Kenneth A. Goldman - 31 Dec 2021 Form 4 Insider Report for Fortinet, Inc. (FTNT)

Role: Director
Signature: /s/ Robert Turner, by power of attorney
Issuer symbol: FTNT
Transactions as of: 31 Dec 2021
Net transactions value: $0
Form type: 4
Filing time: 03 Jan 2022, 16:42:35 UTC
Previous filing: 04 Nov 2021
Next filing: 17 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FTNT	Common Stock	Options Exercise	$0	+244	+15%	$0.000000	1,895	31 Dec 2021	Direct	F1
holding	FTNT	Common Stock						4,150	31 Dec 2021	By Goldman-Valeriote Family Trust u/a/d 11/15/95	F2
holding	FTNT	Common Stock						200	31 Dec 2021	By GV Partners L.P.	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	FTNT	Restricted Stock Units	Options Exercise	$0	-244	-33%	$0.000000	488	31 Dec 2021	Common Stock	244	$0.000000	Direct	F1, F4, F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Vesting of restricted stock units ("RSUs") granted to the Reporting Person on August 12, 2021.
F2	The Reporting Person is a trustee of the Trust and may be deemed to have voting and dispositive power with regard to the shares held by the Trust. The Reporting Person disclaims beneficial ownership of the shares held by the Trust except to the extent of his pecuniary interest therein.
F3	GV Partners L.P. is a family limited partnership of which the Reporting Person is the managing member.
F4	Each RSU represents a contingent right to receive one share of the Issuer's common stock.
F5	The RSUs will vest in substantially equal increments on each of September 30, 2021, December 31, 2021, March 31, 2022, and the earlier of (i) June 30, 2022 and (ii) the date immediately preceding the Issuer's 2022 annual meeting of stockholders, subject to the Reporting Person's provision of services to the Issuer on each vesting date. Shares of the Issuer's Common Stock will be delivered to the Reporting Person following vesting.
F6	RSUs do not expire; they either vest or are canceled prior to vest date.