Ken Xie - Feb 17, 2022 Form 4/A - Amendment Insider Report for Fortinet, Inc. (FTNT)

Role
President & CEO, Director
Signature
/s/ Robert Turner, by power of attorney
Stock symbol
FTNT
Transactions as of
Feb 17, 2022
Transactions value $
$0
Form type
4/A - Amendment
Date filed
3/6/2023, 05:35 PM
Date Of Original Report
Feb 18, 2022
Previous filing
Feb 3, 2022
Next filing
May 3, 2022

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 +19.3K $0.00 19.3K Feb 17, 2022 Common Stock 19.3K $0.00 Direct F1, F2, F3
transaction FTNT Employee Stock Option (right to buy) Award $0 +57.8K $0.00 57.8K Feb 17, 2022 Common Stock 57.8K $310.54 Direct F4
* 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, 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.
F3 RSUs do not expire; they either vest or are canceled prior to the 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.

Remarks:

Form 4 filed on February 18, 2022 inadvertently reflected each of the reported transactions as a disposition of derivative securities in Column 5 of Table II. This amendment to Form 4 correctly reflects each of the reported transactions as an acquisition of derivative securities in Column 5 of Table II.