Ken Xie - 17 Dec 2024 Form 4 Insider Report for Fortinet, Inc. (FTNT)

Role
PRESIDENT & CEO, Director
Signature
/s/ Robert Turner, by power of attorney
Issuer symbol
FTNT
Transactions as of
17 Dec 2024
Net transactions value
-$3,615,327
Form type
4
Filing time
19 Dec 2024, 16:34:45 UTC
Previous filing
14 Nov 2024
Next filing
15 Jan 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FTNT Common Stock Options Exercise $408,827 +41,666 +0.09% $9.81 49,006,599 17 Dec 2024 Direct
transaction FTNT Common Stock Sale $1,406,601 -14,416 -0.03% $97.57 48,992,183 17 Dec 2024 Direct F1, F2
transaction FTNT Common Stock Sale $758,174 -7,700 -0.02% $98.46 48,984,483 17 Dec 2024 Direct F1, F3
transaction FTNT Common Stock Sale $79,367 -800 -0% $99.21 48,983,683 17 Dec 2024 Direct F1, F4
transaction FTNT Common Stock Options Exercise $408,837 +41,667 +0.09% $9.81 49,025,350 18 Dec 2024 Direct
transaction FTNT Common Stock Sale $432,189 -4,621 -0.01% $93.53 49,020,729 18 Dec 2024 Direct F1, F5
transaction FTNT Common Stock Sale $335,451 -3,552 -0.01% $94.44 49,017,177 18 Dec 2024 Direct F1, F6
transaction FTNT Common Stock Sale $587,273 -6,144 -0.01% $95.58 49,011,033 18 Dec 2024 Direct F1, F7
transaction FTNT Common Stock Sale $510,534 -5,300 -0.01% $96.33 49,005,733 18 Dec 2024 Direct F1, F8
transaction FTNT Common Stock Sale $284,076 -2,911 -0.01% $97.59 49,002,822 18 Dec 2024 Direct F1, F9
transaction FTNT Common Stock Sale $39,325 -400 -0% $98.31 49,002,422 18 Dec 2024 Direct F1, F10
holding FTNT Common Stock 4,256,201 17 Dec 2024 By trust F11
holding FTNT Common Stock 4,256,201 17 Dec 2024 By trust F12
holding FTNT Common Stock 3,243,799 17 Dec 2024 By trust F13
holding FTNT Common Stock 3,243,799 17 Dec 2024 By trust F14

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 Nonqualified Stock Option (right to buy) Options Exercise $0 -41,666 -17% $0.000000 208,334 17 Dec 2024 Common Stock 41,666 $9.81 Direct F15
transaction FTNT Nonqualified Stock Option (right to buy) Options Exercise $0 -41,667 -20% $0.000000 166,667 18 Dec 2024 Common Stock 41,667 $9.81 Direct F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 8, 2023.
F2 Represents the weighted average sale price. The lowest price at which shares were sold was $97.06 and the highest price at which shares were sold was $98.05. 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 (10) to this Form 4.
F3 Represents the weighted average sale price. The lowest price at which shares were sold was $98.10 and the highest price at which shares were sold was $99.06.
F4 Represents the weighted average sale price. The lowest price at which shares were sold was $99.10 and the highest price at which shares were sold was $99.36.
F5 Represents the weighted average sale price. The lowest price at which shares were sold was $92.93 and the highest price at which shares were sold was $93.85.
F6 Represents the weighted average sale price. The lowest price at which shares were sold was $93.93 and the highest price at which shares were sold was $94.84.
F7 Represents the weighted average sale price. The lowest price at which shares were sold was $95.00 and the highest price at which shares were sold was $95.99.
F8 (3) Represents the weighted average sale price. The lowest price at which shares were sold was $96.01 and the highest price at which shares were sold was $96.98.
F9 Represents the weighted average sale price. The lowest price at which shares were sold was $97.21 and the highest price at which shares were sold was $98.17.
F10 (3) Represents the weighted average sale price. The lowest price at which shares were sold was $98.22 and the highest price at which shares were sold was $98.36.
F11 These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person.
F12 These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse.
F13 These securities are held by a 2024 grantor retained annuity trust for the benefit of the Reporting Person.
F14 These securities are held by a 2024 grantor retained annuity trust for the benefit of the Reporting Person's spouse.
F15 The options are fully vested.