Fortinet, Inc. — Director's Dealing 2023

Feb 24, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortinet, Inc. (FTNT)
CIK: 0001262039
Period of Report: 2023-02-23

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-23	Common Stock	M	29465	$16.90	Acquired	53513	Direct
2023-02-23	Common Stock	M	25465	$22.90	Acquired	78978	Direct
2023-02-23	Common Stock	M	23965	$34.39	Acquired	102943	Direct
2023-02-23	Common Stock	S	55985	$59.902	Disposed	46958	Direct
2023-02-23	Common Stock	S	42389	$60.5513	Disposed	4569	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-23	Stock Option (right to buy)	$16.90	M	29465	Disposed	2026-02-21	Common Stock (29465)	Direct
2023-02-23	Stock Option (right to buy)	$22.90	M	25465	Disposed	2027-02-21	Common Stock (25465)	Direct
2023-02-23	Stock Option (right to buy)	$34.39	M	23965	Disposed	2028-02-19	Common Stock (23965)	Direct

Footnotes

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

F2: Represents the weighted average sale price. The lowest price at which shares were sold was $59.902 and the highest price at which shares were sold was $60.36. 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 range set forth in footnotes (1) and (2) to this Form 4.

F3: Represents the weighted average sale price. The lowest price at which shares were sold was $60.37 and the highest price at which shares were sold was $60.78.

F4: 1/4 of the shares subject to the option vested on February 21, 2020 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 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.

F6: 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.