Patrice Perche - 14 Apr 2022 Form 3 Insider Report for Fortinet, Inc. (FTNT)

Role
Chief Revenue Off./EVP Supp.
Signature
/s/ Robert Turner, by power of attorney
Issuer symbol
FTNT
Transactions as of
14 Apr 2022
Net transactions value
$0
Form type
3
Filing time
25 Apr 2022, 08:36:01 UTC
Next filing
03 May 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding FTNT Common Stock 23,423 14 Apr 2022 Direct

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
holding FTNT Stock Option (right to buy) 14 Apr 2022 Common Stock 33,594 $84.49 Direct F1
holding FTNT Stock Option (right to buy) 14 Apr 2022 Common Stock 36,549 $114.48 Direct F2
holding FTNT Stock Option (right to buy) 14 Apr 2022 Common Stock 35,766 $171.93 Direct F3
holding FTNT Stock Option (right to buy) 14 Apr 2022 Common Stock 18,147 $310.54 Direct F4
holding FTNT Stock Option (right to buy) 14 Apr 2022 Common Stock 10,417 $49.06 Direct F5
holding FTNT Restricted stock units 14 Apr 2022 Common Stock 6,049 $0.000000 Direct F6, F7, F8
holding FTNT Restricted stock units 14 Apr 2022 Common Stock 8,942 $0.000000 Direct F7, F8, F9
holding FTNT Restricted stock units 14 Apr 2022 Common Stock 6,092 $0.000000 Direct F7, F8, F10
holding FTNT Restricted stock units 14 Apr 2022 Common Stock 2,800 $0.000000 Direct F7, F8, F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 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.
F3 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.
F4 1/4 of the shares subject to the option will vest on February 17, 2023, 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.
F5 Of the original 20,000 options granted to the Reporting Person, 9,583 options have been exercised and 10,417 options remain outstanding. 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.
F6 25% of the RSUs will vest on February 1, 2023, and the remaining 75% of the RSUs will vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.
F7 RSUs do not expire; they either vest or are canceled prior to the vesting date.
F8 Each RSU represents a contingent right to receive one share of the Issuer's common stock.
F9 Of the original 11,922 RSUs granted to the Reporting Person, 2,980 RSUs have vested and 8,942 RSUs remain outstanding. 25% of the RSUs vested on February 1, 2022, and the remaining 75% of the RSUs will vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.
F10 Of the original 12,183 RSUs granted to the Reporting Person, 6,091 RSUs have vested and 6,092 RSUs remain outstanding. 25% of the RSUs vested on February 1, 2021, and the remaining 75% of the RSUs will vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.
F11 Of the original 11,198 RSUs granted to the Reporting Person, 8,398 RSUs have vested and 2,800 RSUs remain outstanding. 25% of the RSUs vested on February 1, 2020, and the remaining 75% of the RSUs will vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.