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

Role: Chief Revenue Off./EVP Supp.
Signature: /s/ Robert Turner, by power of attorney
Stock symbol: FTNT
Transactions as of: Apr 14, 2022
Transactions value $: $0
Form type: 3
Date filed: 4/25/2022, 08:36 AM
Next filing: May 3, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	FTNT	Common Stock						23.4K	Apr 14, 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)							Apr 14, 2022	Common Stock	33.6K	$84.49	Direct	F1
holding	FTNT	Stock Option (right to buy)							Apr 14, 2022	Common Stock	36.5K	$114.48	Direct	F2
holding	FTNT	Stock Option (right to buy)							Apr 14, 2022	Common Stock	35.8K	$171.93	Direct	F3
holding	FTNT	Stock Option (right to buy)							Apr 14, 2022	Common Stock	18.1K	$310.54	Direct	F4
holding	FTNT	Stock Option (right to buy)							Apr 14, 2022	Common Stock	10.4K	$49.06	Direct	F5
holding	FTNT	Restricted stock units							Apr 14, 2022	Common Stock	6.05K	$0.00	Direct	F6, F7, F8
holding	FTNT	Restricted stock units							Apr 14, 2022	Common Stock	8.94K	$0.00	Direct	F7, F8, F9
holding	FTNT	Restricted stock units							Apr 14, 2022	Common Stock	6.09K	$0.00	Direct	F7, F8, F10
holding	FTNT	Restricted stock units							Apr 14, 2022	Common Stock	2.8K	$0.00	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.