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Xie Ken – ‘4’ for 5/1/24 re: Fortinet, Inc.

On:  Thursday, 5/2/24, at 5:38pm ET   ·   For:  5/1/24   ·   As:  Director and Officer   ·   Accession #:  1415889-24-12060   ·   File #:  1-34511

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/02/24  Xie Ken                           4          Dir.,Off.   1:15K  Fortinet, Inc.                    SEC Connect

Statement of Changes in Beneficial Ownership of Securities by an Insider   —   Form 4   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 4           Statement of Changes in Beneficial Ownership of     HTML     15K 
                Securities by an Insider --                                      
                form4-05022024_090510.xml/5.8


        

This ‘4’ Document is an XML Data File that may be rendered in various formats:

  Form 4    –   Plain Text   –  SEC Website  –  EDGAR System  –    XML Data    –  <?xml?> File
 
 
SEC Info℠ rendering:  Statement of Changes in Beneficial Ownership of Securities by an Insider — form4-05022024_090510.xml/5.8
 

The SEC has not released XSLT Stylesheets needed to render this File’s XML Data as a Form.

This is our “Plain Text” rendering:
 
                                                                                                                                                                                
Ownership Document
 
Schema Version:  X0508
Document Type:  4
Period of Report:  5/1/24
Issuer:
Issuer CIK:  1262039
Issuer Name:  Fortinet, Inc.
Issuer Trading Symbol:  FTNT
Reporting Owner:
Reporting Owner ID:
Owner CIK:  1475587
Owner Name:  Xie Ken
Reporting Owner Address:
Owner Street 1:  C/O FORTINET, INC.
Owner Street 2:  909 KIFER ROAD
Owner City:  SUNNYVALE
Owner State:  CA
Owner ZIP Code:  94086
Owner State Description:
Reporting Owner Relationship:
Is Director?  Yes
Is Officer?  Yes
Is Ten Percent Owner?  No
Is Other?  No
Officer Title:  PRESIDENT & CEO
Other Text:
Aff 10b5 One:  0
Non-Derivative Table:
Non-Derivative Transaction:
Security Title:
Value:  Common Stock
Transaction Date:
Value:  5/1/24
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  M
Equity Swap Involved?  No
Footnote ID:  F1
Transaction Amounts:
Transaction Shares:
Value:  11,330
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  A
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  48,689,640
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Nature of Ownership:
Value:
Non-Derivative Transaction:
Security Title:
Value:  Common Stock
Transaction Date:
Value:  5/1/24
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  M
Equity Swap Involved?  No
Footnote ID:  F1
Transaction Amounts:
Transaction Shares:
Value:  6,015
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  A
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  48,695,655
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Nature of Ownership:
Value:
Non-Derivative Transaction:
Security Title:
Value:  Common Stock
Transaction Date:
Value:  5/1/24
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  M
Equity Swap Involved?  No
Footnote ID:  F1
Transaction Amounts:
Transaction Shares:
Value:  6,260
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  A
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  48,701,915
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Nature of Ownership:
Value:
Non-Derivative Transaction:
Security Title:
Value:  Common Stock
Transaction Date:
Value:  5/1/24
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  F
Equity Swap Involved?  No
Footnote ID:  F2
Transaction Amounts:
Transaction Shares:
Value:  11,705
Transaction Price Per Share:
Value:  63.53
Transaction Acquired-Disposed Code:
Value:  D
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  48,690,210
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Nature of Ownership:
Value:
Non-Derivative Holding:
Security Title:
Value:  Common Stock
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  3,243,799
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  By trust
Footnote ID:  F3
Non-Derivative Holding:
Security Title:
Value:  Common Stock
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  3,243,799
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  By trust
Footnote ID:  F4
Non-Derivative Holding:
Security Title:
Value:  Common Stock
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  4,256,201
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  By trust
Footnote ID:  F3
Non-Derivative Holding:
Security Title:
Value:  Common Stock
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  4,256,201
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  By trust
Footnote ID:  F4
Derivative Table:
Derivative Transaction:
Security Title:
Value:  Restricted Stock Units
Conversion or Exercise Price:
Value:  0
Footnote ID:  F5
Transaction Date:
Value:  5/1/24
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  M
Equity Swap Involved?  No
Footnote ID:  F1
Transaction Amounts:
Transaction Shares:
Value:  11,330
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  D
Exercise Date:
Footnote ID:  F6
Expiration Date:
Footnote ID:  F7
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  11,330
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  34,005
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Nature of Ownership:
Value:
Derivative Transaction:
Security Title:
Value:  Restricted Stock Units
Conversion or Exercise Price:
Value:  0
Footnote ID:  F5
Transaction Date:
Value:  5/1/24
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  M
Equity Swap Involved?  No
Footnote ID:  F1
Transaction Amounts:
Transaction Shares:
Value:  6,015
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  D
Exercise Date:
Footnote ID:  F8
Expiration Date:
Footnote ID:  F7
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  6,015
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  42,120
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Nature of Ownership:
Value:
Derivative Transaction:
Security Title:
Value:  Restricted Stock Units
Conversion or Exercise Price:
Value:  0
Footnote ID:  F5
Transaction Date:
Value:  5/1/24
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  M
Equity Swap Involved?  No
Footnote ID:  F1
Transaction Amounts:
Transaction Shares:
Value:  6,260
Transaction Price Per Share:
Value:  0
Transaction Acquired-Disposed Code:
Value:  D
Exercise Date:
Footnote ID:  F9
Expiration Date:
Footnote ID:  F7
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  6,260
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  68,860
Ownership Nature:
Direct or Indirect Ownership:
Value:  D
Nature of Ownership:
Value:
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 restricted stock units.
Footnote - F3:  These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person.
Footnote - F4:  These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse.
Footnote - F5:  Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
Footnote - F6:  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.
Footnote - F7:  RSUs do not expire; they either vest or are canceled prior to the vesting date.
Footnote - F8:  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 - F9:  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.
Owner Signature:
Signature Name:  /s/ Robert Turner, by power of attorney
Signature Date:  5/2/24


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