Michael Xie - Jan 24, 2024 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
Jan 24, 2024
Transactions value $
$0
Form type
4
Date filed
1/26/2024, 04:34 PM
Previous filing
Dec 11, 2023
Next filing
Feb 5, 2024

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 Performance Stock Units Award $0 +9.64K $0.00 9.64K Jan 24, 2024 Common Stock 9.64K $0.00 Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units ("RSUs") earned as a result of the achievement of performance criteria based on relative shareholder return pursuant to a performance-based RSU award with a performance period that ended on December 31, 2023, as certified by the HR Committee of the Issuer's Board of Directors on January 24, 2024.
F2 Each RSU represents a contingent right to receive one share of the Issuer's common stock.
F3 100% of the RSUs vest and settle on February 1, 2024, subject to the Reporting Person's provision of service to the Issuer on such date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon settlement.
F4 RSUs do not expire; they either vest or are canceled prior to the vesting date.