Keith Jensen - 24 Feb 2022 Form 4 Insider Report for Fortinet, Inc. (FTNT)

Signature
/s/ Robert Turner, by power of attorney
Issuer symbol
FTNT
Transactions as of
24 Feb 2022
Net transactions value
-$2,039,485
Form type
4
Filing time
28 Feb 2022, 15:11:53 UTC
Previous filing
06 Mar 2023
Next filing
03 May 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FTNT Common Stock Options Exercise $122,699 +2,501 +283% $49.06 3,384 24 Feb 2022 Direct F1
transaction FTNT Common Stock Options Exercise $248,992 +2,947 +87% $84.49 6,331 24 Feb 2022 Direct F1
transaction FTNT Common Stock Options Exercise $291,581 +2,547 +40% $114.48 8,878 24 Feb 2022 Direct F1
transaction FTNT Common Stock Options Exercise $1,647,949 +9,585 +108% $171.93 18,463 24 Feb 2022 Direct F1
transaction FTNT Common Stock Sale $166,591 -600 -3.2% $277.65 17,863 24 Feb 2022 Direct F1, F2
transaction FTNT Common Stock Sale $103,181 -369 -2.1% $279.62 17,494 24 Feb 2022 Direct F1, F3
transaction FTNT Common Stock Sale $117,066 -415 -2.4% $282.09 17,079 24 Feb 2022 Direct F1, F4
transaction FTNT Common Stock Sale $85,023 -300 -1.8% $283.41 16,779 24 Feb 2022 Direct F1, F5
transaction FTNT Common Stock Sale $28,515 -100 -0.6% $285.15 16,679 24 Feb 2022 Direct F1
transaction FTNT Common Stock Sale $57,474 -200 -1.2% $287.37 16,479 24 Feb 2022 Direct F1, F6
transaction FTNT Common Stock Sale $57,668 -200 -1.2% $288.34 16,279 24 Feb 2022 Direct F1, F7
transaction FTNT Common Stock Sale $232,312 -800 -4.9% $290.39 15,479 24 Feb 2022 Direct F1, F8
transaction FTNT Common Stock Sale $58,177 -200 -1.3% $290.88 15,279 24 Feb 2022 Direct F1, F9
transaction FTNT Common Stock Sale $50,505 -172 -1.1% $293.63 15,107 24 Feb 2022 Direct F1, F10
transaction FTNT Common Stock Sale $88,605 -300 -2% $295.35 14,807 24 Feb 2022 Direct F1, F11
transaction FTNT Common Stock Sale $237,464 -800 -5.4% $296.83 14,007 24 Feb 2022 Direct F1, F12
transaction FTNT Common Stock Sale $180,382 -606 -4.3% $297.66 13,401 24 Feb 2022 Direct F1, F13
transaction FTNT Common Stock Sale $30,009 -100 -0.75% $300.09 13,301 24 Feb 2022 Direct F1
transaction FTNT Common Stock Sale $180,884 -600 -4.5% $301.47 12,701 24 Feb 2022 Direct F1, F14
transaction FTNT Common Stock Sale $363,032 -1,200 -9.4% $302.53 11,501 24 Feb 2022 Direct F1, F15
transaction FTNT Common Stock Sale $212,759 -700 -6.1% $303.94 10,801 24 Feb 2022 Direct F1, F16
transaction FTNT Common Stock Sale $152,482 -500 -4.6% $304.96 10,301 24 Feb 2022 Direct F1, F17
transaction FTNT Common Stock Sale $527,406 -1,724 -17% $305.92 8,577 24 Feb 2022 Direct F1, F18
transaction FTNT Common Stock Sale $184,111 -600 -7% $306.85 7,977 24 Feb 2022 Direct F1, F19
transaction FTNT Common Stock Sale $91,734 -298 -3.7% $307.83 7,679 24 Feb 2022 Direct F1, F20
transaction FTNT Common Stock Sale $154,472 -500 -6.5% $308.94 7,179 24 Feb 2022 Direct F1, F21
transaction FTNT Common Stock Sale $137,583 -443 -6.2% $310.57 6,736 24 Feb 2022 Direct F1, F22
transaction FTNT Common Stock Sale $155,836 -500 -7.4% $311.67 6,236 24 Feb 2022 Direct F1, F23
transaction FTNT Common Stock Sale $190,839 -611 -9.8% $312.34 5,625 24 Feb 2022 Direct F1, F24
transaction FTNT Common Stock Sale $506,595 -1,615 -29% $313.68 4,010 24 Feb 2022 Direct F1, F25

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 Stock Option (right to buy) Options Exercise $0 -2,501 -100% $0.000000* 0 24 Feb 2022 Common Stock 2,501 $49.06 Direct F1, F26
transaction FTNT Stock Option (right to buy) Options Exercise $0 -2,947 -20% $0.000000 11,784 24 Feb 2022 Common Stock 2,947 $84.49 Direct F1, F27
transaction FTNT Stock Option (right to buy) Options Exercise $0 -2,547 -11% $0.000000 20,370 24 Feb 2022 Common Stock 2,547 $114.48 Direct F1, F28
transaction FTNT Stock Option (right to buy) Options Exercise $0 -9,585 -25% $0.000000 28,758 24 Feb 2022 Common Stock 9,585 $171.93 Direct F1, F29
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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 $277.51 and the highest price at which shares were sold was $278.20. 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 (25) to this Form 4.
F3 Represents the weighted average sale price. The lowest price at which shares were sold was $279.27 and the highest price at which shares were sold was $280.00.
F4 Represents the weighted average sale price. The lowest price at which shares were sold was $281.76 and the highest price at which shares were sold was $282.36.
F5 Represents the weighted average sale price. The lowest price at which shares were sold was $283.32 and the highest price at which shares were sold was $283.59.
F6 Represents the weighted average sale price. The lowest price at which shares were sold was $287.13 and the highest price at which shares were sold was $287.61.
F7 Represents the weighted average sale price. The lowest price at which shares were sold was $288.24 and the highest price at which shares were sold was $288.44.
F8 Represents the weighted average sale price. The lowest price at which shares were sold was $289.84 and the highest price at which shares were sold was $290.79.
F9 Represents the weighted average sale price. The lowest price at which shares were sold was $290.85 and the highest price at which shares were sold was $290.92.
F10 Represents the weighted average sale price. The lowest price at which shares were sold was $293.15 and the highest price at which shares were sold was $293.98.
F11 Represents the weighted average sale price. The lowest price at which shares were sold was $295.02 and the highest price at which shares were sold was $295.58.
F12 Represents the weighted average sale price. The lowest price at which shares were sold was $296.18 and the highest price at which shares were sold was $297.14.
F13 Represents the weighted average sale price. The lowest price at which shares were sold was $297.21 and the highest price at which shares were sold was $298.08.
F14 Represents the weighted average sale price. The lowest price at which shares were sold was $301.10 and the highest price at which shares were sold was $302.06.
F15 Represents the weighted average sale price. The lowest price at which shares were sold was $302.31 and the highest price at which shares were sold was $303.00.
F16 Represents the weighted average sale price. The lowest price at which shares were sold was $303.45 and the highest price at which shares were sold was $304.14.
F17 Represents the weighted average sale price. The lowest price at which shares were sold was $304.52 and the highest price at which shares were sold was $305.46.
F18 Represents the weighted average sale price. The lowest price at which shares were sold was $305.52 and the highest price at which shares were sold was $306.42.
F19 Represents the weighted average sale price. The lowest price at which shares were sold was $306.52 and the highest price at which shares were sold was $307.50.
F20 Represents the weighted average sale price. The lowest price at which shares were sold was $307.63 and the highest price at which shares were sold was $308.06.
F21 Represents the weighted average sale price. The lowest price at which shares were sold was $308.68 and the highest price at which shares were sold was $309.51.
F22 Represents the weighted average sale price. The lowest price at which shares were sold was $310.07 and the highest price at which shares were sold was $310.75.
F23 Represents the weighted average sale price. The lowest price at which shares were sold was $311.11 and the highest price at which shares were sold was $311.88.
F24 Represents the weighted average sale price. The lowest price at which shares were sold was $312.13 and the highest price at which shares were sold was $312.89.
F25 Represents the weighted average sale price. The lowest price at which shares were sold was $313.23 and the highest price at which shares were sold was $314.13.
F26 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.
F27 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.
F28 1/4 of the shares subject to the option will vest 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.
F29 1/4 of the shares subject to the option will vest 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.

Remarks:

This Form 4 is the first of two Forms 4 filed to report transactions by the Reporting Person that occurred on February 24, 2022. This Form 4 is split into two filings because the SEC's EDGAR filing system limits the number of transactions reported on a single Form 4.