Keith Jensen - Nov 24, 2023 Form 4 Insider Report for Fortinet, Inc. (FTNT)

Role
CFO & Chief Accounting Officer
Signature
/s/ Robert Turner, by power of attorney
Stock symbol
FTNT
Transactions as of
Nov 24, 2023
Transactions value $
-$615,179
Form type
4
Date filed
11/27/2023, 04:21 PM
Previous filing
Nov 20, 2023
Next filing
Jan 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FTNT Common Stock Options Exercise $292K +12.7K +277.58% $22.90 17.3K Nov 24, 2023 Direct F1
transaction FTNT Common Stock Options Exercise $412K +12K +69.18% $34.39 29.3K Nov 24, 2023 Direct F1
transaction FTNT Common Stock Sale -$1.32M -24.7K -84.35% $53.37 4.59K Nov 24, 2023 Direct F1, F2

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 -12.7K -49.99% $0.00 12.7K Nov 24, 2023 Common Stock 12.7K $22.90 Direct F1, F3
transaction FTNT Stock Option (right to buy) Options Exercise $0 -12K -16.66% $0.00 59.9K Nov 24, 2023 Common Stock 12K $34.39 Direct F1, F4
* 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 on December 8, 2022.
F2 Represents the weighted average sale price. The lowest price at which shares were sold was $52.85 and the highest price at which shares were sold was $53.64. 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 range set forth herein.
F3 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.
F4 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.