Fortinet, Inc. — Director's Dealing 2025

Feb 13, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortinet, Inc. (FTNT)
CIK: 0001262039
Period of Report: 2025-02-11

Reporting Person: Xie Ken (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-02-11	Common Stock	G	647311	—	Disposed	1294622	Indirect
2025-02-11	Common Stock	G	647311	—	Disposed	647311	Indirect
2025-02-11	Common Stock	G	647311	—	Disposed	0	Indirect
2025-02-11	Common Stock	G	647311	—	Disposed	1294622	Indirect
2025-02-11	Common Stock	G	647311	—	Disposed	647311	Indirect
2025-02-11	Common Stock	G	647311	—	Disposed	0	Indirect
2025-02-11	Common Stock	M	41667	$9.812	Acquired	51451633	Direct
2025-02-11	Common Stock	S	16357	$108.5365	Disposed	51435276	Direct
2025-02-11	Common Stock	S	6243	$109.3015	Disposed	51429033	Direct
2025-02-11	Common Stock	S	100	$109.99	Disposed	51428933	Direct
2025-02-12	Common Stock	M	41667	$9.812	Acquired	51470600	Direct
2025-02-12	Common Stock	S	3300	$105.2245	Disposed	51467300	Direct
2025-02-12	Common Stock	S	7520	$106.0925	Disposed	51459780	Direct
2025-02-12	Common Stock	S	8534	$107.2009	Disposed	51451246	Direct
2025-02-12	Common Stock	S	3367	$107.6502	Disposed	51447879	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-02-11	Nonqualified Stock Option (right to buy)	$9.812	M	41667	Disposed	2025-02-20	Common Stock (41667)	Direct
2025-02-12	Nonqualified Stock Option (right to buy)	$9.812	M	41667	Disposed	2025-02-20	Common Stock (41666)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3243799	Indirect
Common Stock	3243799	Indirect
Common Stock	2314268	Indirect

Footnotes

F1: These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person ("GRAT 1"). On February 11, 2025, 2,314,268 shares of the Issuer's Common Stock were transferred from GRAT 1 to the Reporting Person.

F2: These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse ("GRAT 2"). On February 11, 2025, 2,314,268 shares of the Issuer's Common Stock were transferred from GRAT 2 to the Reporting Person's spouse.

F3: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 8, 2023.

F4: Represents the weighted average sale price. The lowest price at which shares were sold was $107.99 and the highest price at which shares were sold was $108.98. 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 (7) to this Form 4.

F5: Represents the weighted average sale price. The lowest price at which shares were sold was $108.99 and the highest price at which shares were sold was $109.85.

F6: Represents the weighted average sale price. The lowest price at which shares were sold was $104.55 and the highest price at which shares were sold was $105.54.

F7: Represents the weighted average sale price. The lowest price at which shares were sold was $105.56 and the highest price at which shares were sold was $106.55.

F8: Represents the weighted average sale price. The lowest price at which shares were sold was $106.56 and the highest price at which shares were sold was $107.55.

F9: Represents the weighted average sale price. The lowest price at which shares were sold was $107.56 and the highest price at which shares were sold was $107.75.

F10: These securities are held by a 2024 grantor retained annuity trust for the benefit of the Reporting Person.

F11: These securities are held by a 2024 grantor retained annuity trust for the benefit of the Reporting Person's spouse.

F12: The options are fully vested.