Jensen Keith 4

Accession 0001415889-25-003011

CIK 0001262039other

View on SEC.gov Company Profile

Filed

Feb 3, 7:00 PM ET

Accepted

Feb 4, 6:27 PM ET

Size

26.0 KB

Accession

0001415889-25-003011

Insider Transaction Report

Form 4

Period: 2025-02-01

Fortinet, Inc.FTNT

Jensen Keith

Chief Financial Officer

Transactions

Exercise/Conversion
Common Stock
2025-02-01+1,890→ 10,574 total
Exercise/Conversion
Common Stock
2025-02-01+28,156→ 48,610 total
Tax Payment
Common Stock
2025-02-01$100.88/sh−20,374$2,055,329→ 28,236 total
Exercise/Conversion
Restricted Stock Units
2025-02-01−7,307→ 21,922 total
Exercise: $0.00→ Common Stock (7,307 underlying)
Exercise/Conversion
Common Stock
2025-02-01+7,307→ 20,454 total
Exercise/Conversion
Restricted Stock Units
2025-02-01−1,890→ 7,565 total
Exercise: $0.00→ Common Stock (1,890 underlying)
Exercise/Conversion
Restricted Stock Units
2025-02-01−2,573→ 20,585 total
Exercise: $0.00→ Common Stock (2,573 underlying)
Exercise/Conversion
Performance Stock Units
2025-02-01−28,156→ 0 total
Exercise: $0.00→ Common Stock (28,156 underlying)
Exercise/Conversion
Restricted Stock Units
2025-02-01−3,995→ 0 total
Exercise: $0.00→ Common Stock (3,995 underlying)
Exercise/Conversion
Common Stock
2025-02-01+3,995→ 8,684 total
Exercise/Conversion
Common Stock
2025-02-01+2,573→ 13,147 total

Footnotes (9)

[F1]Vesting of restricted stock units ("RSUs") or performance stock units ("PSUs") 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 RSUs.
[F3]Each RSU and PSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
[F4]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.
[F5]RSUs and PSUs do not expire; they either vest or are canceled prior to the vesting date.
[F6]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.
[F7]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.
[F8]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 vesting.
[F9]100% of the PSUs vest and settle on February 1, 2025, subject to the Reporting Person's provision of service to the Issuer on such date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon settlement.

Documents

1 file

4
form4-02042025_110222.xmlPrimary

Issuer

Fortinet, Inc.

CIK 0001262039

→

Entity typeother

Related Parties

filerCIK 0001418649

Filing Metadata

Form type: 4
Filed: Feb 3, 7:00 PM ET
Accepted: Feb 4, 6:27 PM ET
Size: 26.0 KB

View on SEC.gov