Fortinet, Inc. — Director's Dealing 2023

Aug 24, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortinet, Inc. (FTNT)
CIK: 0001262039
Period of Report: 2023-08-23

Reporting Person: Jensen Keith (CFO & Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-08-23	Common Stock	M	12730	$22.90	Acquired	17308	Direct
2023-08-23	Common Stock	M	11985	$34.39	Acquired	29293	Direct
2023-08-23	Common Stock	S	17391	$58.8624	Disposed	9092	Direct
2023-08-23	Common Stock	S	7324	$59.2982	Disposed	4583	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-08-23	Stock Option (right to buy)	$22.90	M	12730	Disposed	2027-02-21	Common Stock (12730)	Direct
2023-08-23	Stock Option (right to buy)	$34.39	M	11985	Disposed	2028-02-19	Common Stock (11985)	Direct

Footnotes

F1: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person on December 8, 2022.

F2: Represents the weighted average sale price. The lowest price at which shares were sold was $58.22 and the highest price at which shares were sold was $59.21. The Reporting Person undertakes to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or its stockholders, full information regarding the total number of shares sold at each separate price within the ranges set forth in footnotes (2) and (3) to this Form 4.

F3: Represents the weighted average sale price. The lowest price at which shares were sold was $59.22 and the highest price at which shares were sold was $59.48.

F4: 1/4 of the shares subject to the option vested on February 21, 2021 and 1/48 of the shares subject to the option will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

F5: 1/4 of the shares subject to the option vested on February 19, 2022, and 1/48 of the shares subject to the option will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.