Keith F. Jensen - 01 May 2025 Form 4 Insider Report for Fortinet, Inc. (FTNT)

Reporting relationship: Chief Financial Officer
Issuer ticker: FTNT
Reported as of: 01 May 2025
Net transaction value: -$325,135
SEC form: 4
Accepted by SEC: 05 May 2025, 18:11:57 UTC
Prior SEC filing: 27 Feb 2025
Next SEC filing: 21 Nov 2025
Source filing: View source filing
Reporting owner signature: /s/ Robert Turner, by power of attorney

Key filing fact

Keith F. Jensen filed Form 4 for Fortinet, Inc. (FTNT) on 05 May 2025.

Key facts

This page summarizes Keith F. Jensen's Form 4 filing for Fortinet, Inc. (FTNT).
7 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 05 May 2025, 18:11.

Change

Previous filing in this sequence was filed on 27 Feb 2025.
Current net transaction value: -$325,135.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001418649 Primary reporting owner

Jensen Keith

Relationship: Chief Financial Officer
Address: C/O FORTINET, INC., 909 KIFER ROAD, SUNNYVALE
Signature: /s/ Robert Turner, by power of attorney
Signature date: 05 May 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

FTNT transaction

Common Stock

Options Exercise

Transaction value: $0
Shares: +1,890
Change %: +40%
Price: $0.000000
Shares after: 6,626
Date: 01 May 2025
Ownership: Direct
Footnotes: F1

FTNT transaction

Common Stock

Options Exercise

Transaction value: $0
Shares: +2,573
Change %: +39%
Price: $0.000000
Shares after: 9,199
Date: 01 May 2025
Ownership: Direct
Footnotes: F1

FTNT transaction

Common Stock

Options Exercise

Transaction value: $0
Shares: +1,826
Change %: +20%
Price: $0.000000
Shares after: 11,025
Date: 01 May 2025
Ownership: Direct
Footnotes: F1

FTNT transaction

Common Stock

Tax liability

Transaction value: $325,135
Shares: -3,120
Change %: -28%
Price: $104.21
Shares after: 7,905
Date: 01 May 2025
Ownership: Direct
Footnotes: F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

FTNT transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -1,890
Change %: -25%
Price: $0.000000
Shares after: 5,675
Date: 01 May 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,890
Exercise price: $0.000000
Footnotes: F1, F3, F4, F5

FTNT transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -2,573
Change %: -12%
Price: $0.000000
Shares after: 18,012
Date: 01 May 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 2,573
Exercise price: $0.000000
Footnotes: F1, F3, F5, F6

FTNT transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -1,826
Change %: -8.3%
Price: $0.000000
Shares after: 20,096
Date: 01 May 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,826
Exercise price: $0.000000
Footnotes: F1, F3, F5, F7

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 7 footnotes

Footnote F1

Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.

Footnote F2

Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of RSUs.

Footnote F3

Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.

Footnote F4

25% of the RSUs vested 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 settlement.

Footnote F5

RSUs do not expire; they either vest or are canceled prior to the vesting date.

Footnote F6

25% of the RSUs vested on February 1, 2024, 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 settlement.

Footnote F7

25% of the RSUs will vest on February 1, 2025, 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 settlement.