Fortinet, Inc. — Director's Dealing 2023

Feb 10, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortinet, Inc. (FTNT)
CIK: 0001262039
Period of Report: 2023-02-09

Reporting Person: Perche Patrice (Chief Revenue Off./EVP Supp.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-09	Common Stock	M	52085	$9.81	Acquired	217819	Direct
2023-02-09	Common Stock	M	164470	$16.90	Acquired	382289	Direct
2023-02-09	Common Stock	M	133250	$22.90	Acquired	515539	Direct
2023-02-09	Common Stock	M	85685	$34.39	Acquired	601224	Direct
2023-02-09	Common Stock	S	280515	$58.0584	Disposed	320709	Direct
2023-02-09	Common Stock	S	112035	$59.1563	Disposed	208674	Direct
2023-02-09	Common Stock	S	179065	$60.2338	Disposed	29609	Direct
2023-02-09	Common Stock	S	3879	$60.721	Disposed	25730	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-09	Stock Option (right to buy)	$9.81	M	52085	Disposed	2025-02-20	Common Stock (52085)	Direct
2023-02-09	Stock Option (right to buy)	$16.90	M	164470	Disposed	2026-02-21	Common Stock (164470)	Direct
2023-02-09	Stock Option (right to buy)	$22.90	M	133250	Disposed	2027-02-21	Common Stock (133250)	Direct
2023-02-09	Stock Option (right to buy)	$34.39	M	85685	Disposed	2028-02-19	Common Stock (85685)	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 $57.67 and the highest price at which shares were sold was $58.66. 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) through (5) to this Form 4.

F3: Represents the weighted average sale price. The lowest price at which shares were sold was $58.67 and the highest price at which shares were sold was $59.66.

F4: Represents the weighted average sale price. The lowest price at which shares were sold was $59.67 and the highest price at which shares were sold was $60.66.

F5: Represents the weighted average sale price. The lowest price at which shares were sold was $60.67 and the highest price at which shares were sold was $60.82.

F6: 1/4 of the shares subject to the option vested on February 20, 2019 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.

F7: 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.

F8: 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.

F9: 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.