Fortinet, Inc. — Director's Dealing 2024

Jan 11, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortinet, Inc. (FTNT)
CIK: 0001262039
Period of Report: 2024-01-09

Reporting Person: Xie Ken (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-01-09	Common Stock	M	83333	$7.45	Acquired	51747824	Direct
2024-01-09	Common Stock	S	23165	$59.6233	Disposed	51724659	Direct
2024-01-09	Common Stock	S	23568	$60.6005	Disposed	51701091	Direct
2024-01-10	Common Stock	M	83334	$7.45	Acquired	51784425	Direct
2024-01-10	Common Stock	S	11808	$59.5348	Disposed	51772617	Direct
2024-01-10	Common Stock	S	16244	$60.6789	Disposed	51756373	Direct
2024-01-10	Common Stock	S	18840	$61.4029	Acquired	51737533	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-01-09	Nonqualified Stock Option (right to buy)	$7.45	M	83333	Disposed	2024-02-16	Common Stock (83333)	Direct
2024-01-10	Nonqualified Stock Option (right to buy)	$7.45	M	83334	Disposed	2024-02-16	Common Stock (83334)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3243799	Indirect
Common Stock	4256201	Indirect
Common Stock	4256201	Indirect

Footnotes

F1: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 8, 2023.

F2: Represents the weighted average sale price. The lowest price at which shares were sold was $59.32 and the highest price at which shares were sold was $60.31. 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 (6) to this Form 4.

F3: Represents the weighted average sale price. The lowest price at which shares were sold was $60.32 and the highest price at which shares were sold was $61.19.

F4: Represents the weighted average sale price. The lowest price at which shares were sold was $59.16 and the highest price at which shares were sold was $60.13.

F5: Represents the weighted average sale price. The lowest price at which shares were sold was $60.17 and the highest price at which shares were sold was $61.16.

F6: Represents the weighted average sale price. The lowest price at which shares were sold was $61.17 and the highest price at which shares were sold was $61.59.

F7: These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person ("GRAT 1"). On January 5, 2024, 3,243,799 shares of the Issuer's Common Stock were transferred from GRAT 1 to the Reporting Person.

F8: These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse ("GRAT 2"). On January 5, 2024, 3,243,799 shares of the Issuer's Common Stock were transferred from GRAT 2 to the Reporting Person's spouse.

F9: The options are fully vested.