Ken Xie - 11 Feb 2025 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
11 Feb 2025
Net transactions value
-$4,073,394
Form type
4
Filing time
13 Feb 2025, 16:17:32 UTC
Previous filing
04 Feb 2025
Next filing
25 Feb 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 Gift $0 -647,311 -33% $0.000000 1,294,622 11 Feb 2025 By Trust F1
transaction FTNT Common Stock Gift $0 -647,311 -50% $0.000000 647,311 11 Feb 2025 By Trust F1
transaction FTNT Common Stock Gift $0 -647,311 -100% $0.000000 0 11 Feb 2025 By Trust F1
transaction FTNT Common Stock Gift $0 -647,311 -33% $0.000000 1,294,622 11 Feb 2025 By Trust F2
transaction FTNT Common Stock Gift $0 -647,311 -50% $0.000000 647,311 11 Feb 2025 By Trust F2
transaction FTNT Common Stock Gift $0 -647,311 -100% $0.000000 0 11 Feb 2025 By Trust F2
transaction FTNT Common Stock Options Exercise $408,837 +41,667 +0.08% $9.81 51,451,633 11 Feb 2025 Direct
transaction FTNT Common Stock Sale $1,775,332 -16,357 -0.03% $108.54 51,435,276 11 Feb 2025 Direct F3, F4
transaction FTNT Common Stock Sale $682,369 -6,243 -0.01% $109.30 51,429,033 11 Feb 2025 Direct F3, F5
transaction FTNT Common Stock Sale $10,999 -100 -0% $109.99 51,428,933 11 Feb 2025 Direct F3
transaction FTNT Common Stock Options Exercise $408,837 +41,667 +0.08% $9.81 51,470,600 12 Feb 2025 Direct
transaction FTNT Common Stock Sale $347,241 -3,300 -0.01% $105.22 51,467,300 12 Feb 2025 Direct F3, F6
transaction FTNT Common Stock Sale $797,816 -7,520 -0.01% $106.09 51,459,780 12 Feb 2025 Direct F3, F7
transaction FTNT Common Stock Sale $914,852 -8,534 -0.02% $107.20 51,451,246 12 Feb 2025 Direct F3, F8
transaction FTNT Common Stock Sale $362,458 -3,367 -0.01% $107.65 51,447,879 12 Feb 2025 Direct F3, F9
holding FTNT Common Stock 3,243,799 11 Feb 2025 By trust F10
holding FTNT Common Stock 3,243,799 11 Feb 2025 By trust F11
holding FTNT Common Stock 2,314,268 11 Feb 2025 By spouse

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 -41,667 -50% $0.000000 41,667 11 Feb 2025 Common Stock 41,667 $9.81 Direct F12
transaction FTNT Nonqualified Stock Option (right to buy) Options Exercise $0 -41,667 -100% $0.000000 0 12 Feb 2025 Common Stock 41,666 $9.81 Direct F12
* 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 These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person ("GRAT 1"). On February 11, 2025, 2,314,268 shares of the Issuer's Common Stock were transferred from GRAT 1 to the Reporting Person.
F2 These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse ("GRAT 2"). On February 11, 2025, 2,314,268 shares of the Issuer's Common Stock were transferred from GRAT 2 to the Reporting Person's spouse.
F3 The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 8, 2023.
F4 Represents the weighted average sale price. The lowest price at which shares were sold was $107.99 and the highest price at which shares were sold was $108.98. 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 (7) to this Form 4.
F5 Represents the weighted average sale price. The lowest price at which shares were sold was $108.99 and the highest price at which shares were sold was $109.85.
F6 Represents the weighted average sale price. The lowest price at which shares were sold was $104.55 and the highest price at which shares were sold was $105.54.
F7 Represents the weighted average sale price. The lowest price at which shares were sold was $105.56 and the highest price at which shares were sold was $106.55.
F8 Represents the weighted average sale price. The lowest price at which shares were sold was $106.56 and the highest price at which shares were sold was $107.55.
F9 Represents the weighted average sale price. The lowest price at which shares were sold was $107.56 and the highest price at which shares were sold was $107.75.
F10 These securities are held by a 2024 grantor retained annuity trust for the benefit of the Reporting Person.
F11 These securities are held by a 2024 grantor retained annuity trust for the benefit of the Reporting Person's spouse.
F12 The options are fully vested.