Michael Xie - Feb 27, 2023 Form 4 Insider Report for Fortinet, Inc. (FTNT)

Role
VP, Engineering & CTO, Director
Signature
/s/ Robert Turner, by power of attorney
Stock symbol
FTNT
Transactions as of
Feb 27, 2023
Transactions value $
$0
Form type
4
Date filed
2/28/2023, 03:44 PM
Previous filing
Feb 2, 2023
Next filing
May 3, 2023

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 Award $0 +44.2K $0.00 44.2K Feb 27, 2023 Common Stock 44.2K $0.00 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
F2 25% of the RSUs will vest on February 1, 2024, 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 settlement.
F3 RSUs do not expire; they either vest or are canceled prior to the vesting date.