4//SEC Filing
Perche Patrice 4
Accession 0001209191-23-054392
CIK 0001262039other
Filed
Nov 2, 8:00 PM ET
Accepted
Nov 3, 5:45 PM ET
Size
20.5 KB
Accession
0001209191-23-054392
Insider Transaction Report
Form 4
Fortinet, Inc.FTNT
Perche Patrice
Chief Revenue Off./EVP Supp.
Transactions
- Exercise/Conversion
Common Stock
2023-11-01+3,805→ 29,540 total - Exercise/Conversion
Common Stock
2023-11-01+3,725→ 33,265 total - Exercise/Conversion
Common Stock
2023-11-01+1,890→ 35,155 total - Tax Payment
Common Stock
2023-11-01$57.31/sh−502$28,770→ 34,648 total - Sale
Common Stock
2023-11-03$50.26/sh−8,918$448,229→ 25,730 total - Exercise/Conversion
Restricted Stock Units
2023-11-01−3,805→ 3,810 totalExercise: $0.00→ Common Stock (3,805 underlying) - Exercise/Conversion
Restricted Stock Units
2023-11-01−3,725→ 18,630 totalExercise: $0.00→ Common Stock (3,725 underlying) - Exercise/Conversion
Restricted Stock Units
2023-11-01−1,890→ 17,015 totalExercise: $0.00→ Common Stock (1,890 underlying)
Footnotes (9)
- [F1]Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.
- [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.
- [F3]The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 6, 2022 and modified on December 6, 2022.
- [F4]Represents the weighted average sale price. The lowest price at which shares were sold was $50.00 and the highest price at which shares were sold was $50.50. 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]Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
- [F6]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.
- [F7]RSUs do not expire; they either vest or are canceled prior to the vesting date.
- [F8]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.
- [F9]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.
Documents
Issuer
Fortinet, Inc.
CIK 0001262039
Entity typeother
Related Parties
1- filerCIK 0001924858
Filing Metadata
- Form type
- 4
- Filed
- Nov 2, 8:00 PM ET
- Accepted
- Nov 3, 5:45 PM ET
- Size
- 20.5 KB