Patrice Perche - Feb 9, 2023 Form 4 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
Feb 9, 2023
Transactions value $
-$24,646,501
Form type
4
Date filed
2/10/2023, 05:28 PM
Previous filing
Feb 2, 2023
Next filing
Feb 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FTNT Common Stock Options Exercise $511K +52.1K +31.43% $9.81 218K Feb 9, 2023 Direct
transaction FTNT Common Stock Options Exercise $2.78M +164K +75.51% $16.90 382K Feb 9, 2023 Direct
transaction FTNT Common Stock Options Exercise $3.05M +133K +34.86% $22.90 516K Feb 9, 2023 Direct
transaction FTNT Common Stock Options Exercise $2.95M +85.7K +16.62% $34.39 601K Feb 9, 2023 Direct
transaction FTNT Common Stock Sale -$16.3M -281K -46.66% $58.06 321K Feb 9, 2023 Direct F1, F2
transaction FTNT Common Stock Sale -$6.63M -112K -34.93% $59.16 209K Feb 9, 2023 Direct F1, F3
transaction FTNT Common Stock Sale -$10.8M -179K -85.81% $60.23 29.6K Feb 9, 2023 Direct F1, F4
transaction FTNT Common Stock Sale -$236K -3.88K -13.1% $60.72 25.7K Feb 9, 2023 Direct F1, F5

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 -52.1K -100% $0.00* 0 Feb 9, 2023 Common Stock 52.1K $9.81 Direct F6
transaction FTNT Stock Option (right to buy) Options Exercise $0 -164K -97.92% $0.00 3.5K Feb 9, 2023 Common Stock 164K $16.90 Direct F7
transaction FTNT Stock Option (right to buy) Options Exercise $0 -133K -72.92% $0.00 49.5K Feb 9, 2023 Common Stock 133K $22.90 Direct F8
transaction FTNT Stock Option (right to buy) Options Exercise $0 -85.7K -47.91% $0.00 93.1K Feb 9, 2023 Common Stock 85.7K $34.39 Direct F9
* 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 $57.67 and the highest price at which shares were sold was $58.66. 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 (5) to this Form 4.
F3 Represents the weighted average sale price. The lowest price at which shares were sold was $58.67 and the highest price at which shares were sold was $59.66.
F4 Represents the weighted average sale price. The lowest price at which shares were sold was $59.67 and the highest price at which shares were sold was $60.66.
F5 Represents the weighted average sale price. The lowest price at which shares were sold was $60.67 and the highest price at which shares were sold was $60.82.
F6 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.
F7 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.
F8 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.
F9 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.