Keith Jensen - Feb 26, 2025 Form 4 Insider Report for Fortinet, Inc. (FTNT)

Role
Chief Financial Officer
Signature
/s/ Robert Turner, by power of attorney
Stock symbol
FTNT
Transactions as of
Feb 26, 2025
Transactions value $
-$1,163,485
Form type
4
Date filed
2/27/2025, 04:50 PM
Previous filing
Feb 25, 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 $352K +5.68K +119.83% $62.11 10.4K Feb 26, 2025 Direct F1
transaction FTNT Common Stock Options Exercise $412K +12K +115.12% $34.39 22.4K Feb 26, 2025 Direct F1
transaction FTNT Common Stock Sale -$943K -8.66K -38.68% $108.84 13.7K Feb 26, 2025 Direct F1, F2
transaction FTNT Common Stock Sale -$891K -8.14K -59.29% $109.44 5.59K Feb 26, 2025 Direct F1, F3
transaction FTNT Common Stock Sale -$94.1K -855 -15.29% $110.11 4.74K Feb 26, 2025 Direct F1, F4

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 Stock Option (right to buy) Options Exercise $0 -5.68K -20.01% $0.00 22.7K Feb 26, 2025 Common Stock 5.68K $62.11 Direct F1, F5
transaction FTNT Stock Option (right to buy) Options Exercise $0 -12K -100% $0.00 0 Feb 26, 2025 Common Stock 12K $34.39 Direct F1, F6
* 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 previously adopted by the Reporting Person on March 6, 2024.
F2 Represents the weighted average sale price. The lowest price at which shares were sold was $108.06 and the highest price at which shares were sold was $109.05. 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 range set forth herein.
F3 Represents the weighted average sale price. The lowest price at which shares were sold was $109.06 and the highest price at which shares were sold was $110.03. 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.
F4 Represents the weighted average sale price. The lowest price at which shares were sold was $110.07 and the highest price at which shares were sold was $110.24. 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.
F5 1/4 of the shares subject to the option will vest on February 17, 2023, and 1/48 of the shares subject to the option will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
F6 1/4 of the shares subject to the option vested on February 19, 2022, and 1/48 of the shares subject to the option will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.