Filing Details

Accession Number:
0001209191-23-027197
Form Type:
4
Zero Holdings:
No
Publication Time:
2023-05-03 20:54:19
Reporting Period:
2023-05-01
Accepted Time:
2023-05-03 20:54:19
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1262039 Fortinet Inc. FTNT Computer Peripheral Equipment, Nec (3577) 770560389
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1475586 Michael Xie C/O Fortinet, Inc.
899 Kifer Road
Sunnyvale CA 94086
Vp, Engineering & Cto Yes Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Acquisiton 2023-05-01 5,090 $0.00 29,732,108 No 4 M Direct
Common Stock Acquisiton 2023-05-01 4,555 $0.00 29,736,663 No 4 M Direct
Common Stock Acquisiton 2023-05-01 2,030 $0.00 29,738,693 No 4 M Direct
Common Stock Disposition 2023-05-01 5,849 $62.81 29,732,844 No 4 F Direct
Common Stock Disposition 2023-05-02 5,126 $61.48 29,727,718 No 4 S Direct
Common Stock Disposition 2023-05-02 700 $62.34 29,727,018 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 M Direct
No 4 M Direct
No 4 M Direct
No 4 F Direct
No 4 S Direct
No 4 S Direct
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Common Stock Restricted Stock Units Disposition 2023-05-01 5,090 $0.00 5,090 $0.00
Common Stock Restricted Stock Units Disposition 2023-05-01 4,555 $0.00 4,555 $0.00
Common Stock Restricted Stock Units Disposition 2023-05-01 2,030 $0.00 2,030 $0.00
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
15,280 No 4 M Direct
31,875 No 4 M Direct
22,330 No 4 M Direct
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 9,958,430 Indirect See footnote
Common Stock 17,041,070 Indirect See footnote
Footnotes
  1. Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.
  2. 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 restricted stock units.
  3. The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 3, 2022.
  4. Represents the weighted average sale price. The lowest price at which shares were sold was $61.11 and the highest price at which shares were sold was $61.95. 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.
  5. Represents the weighted average sale price. The lowest price at which shares were sold was $62.19 and the highest price at which shares were sold was $62.68. 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.
  6. Shares held directly by the 2010 K.A. Family Trust dated May 3, 2010, for which the Reporting Person serves as a trustee.
  7. Shares held directly by The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.
  8. Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
  9. 25% of the RSUs vested on February 1, 2021, 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.
  10. RSUs do not expire; they either vest or are canceled prior to the vesting date.
  11. 25% of the RSUs vested on February 1, 2022, 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.
  12. 25% of the RSUs will vest 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.