Xie Ken 4

Accession 0001415889-25-021079

CIK 0001262039other

View on SEC.gov Company Profile

Filed

Aug 4, 8:00 PM ET

Accepted

Aug 5, 6:23 PM ET

Size

29.9 KB

Accession

0001415889-25-021079

Insider Transaction Report

Form 4

Period: 2025-08-01

Fortinet, Inc.FTNT

Xie Ken

DirectorPRESIDENT & CEO

Transactions

Exercise/Conversion
Common Stock
2025-08-01+6,015→ 51,397,894 total
Exercise/Conversion
Common Stock
2025-08-04$16.90/sh+150,000$2,534,700→ 51,550,365 total
Sale
Common Stock
2025-08-04$98.44/sh−129,209$12,719,114→ 51,416,256 total
Exercise/Conversion
Restricted Stock Units
2025-08-01−6,260→ 37,560 total
Exercise: $0.00→ Common Stock (6,260 underlying)
Exercise/Conversion
Common Stock
2025-08-01+6,260→ 51,404,154 total
Exercise/Conversion
Common Stock
2025-08-01+4,558→ 51,408,712 total
Tax Payment
Common Stock
2025-08-01$97.36/sh−8,347$812,664→ 51,400,365 total
Sale
Common Stock
2025-08-04$97.35/sh−4,900$477,031→ 51,545,465 total
Sale
Common Stock
2025-08-04$98.94/sh−24,377$2,411,746→ 51,391,879 total
Exercise/Conversion
Nonqualified Stock Option (right to buy)
2025-08-04−150,000→ 284,880 total
Exercise: $16.90Exp: 2026-02-21→ Common Stock (150,000 underlying)
Exercise/Conversion
Restricted Stock Units
2025-08-01−6,015→ 12,035 total
Exercise: $0.00→ Common Stock (6,015 underlying)
Exercise/Conversion
Restricted Stock Units
2025-08-01−4,558→ 45,576 total
Exercise: $0.00→ Common Stock (4,558 underlying)

Holdings

Common Stock
(indirect: By Trust)
3,243,799
Common Stock
(indirect: By Spouse)
2,314,268
Common Stock
(indirect: By Trust)
3,243,799

Footnotes (14)

[F1]Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.
[F10]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.
[F11]RSUs do not expire; they either vest or are canceled prior to the vesting date.
[F12]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.
[F13]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 settlement.
[F14]1/4 of the shares subject to the option vested on February 21, 2020 and 1/48 of the shares subject to the option vest monthly thereafter.
[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]The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 9, 2024.
[F4]Represents the weighted average sale price. The lowest price at which shares were sold was $96.69 and the highest price at which shares were sold was $97.66. 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 ranges set forth in footnotes (4), (5) and (6) to this Form 4.
[F5]Represents the weighted average sale price. The lowest price at which shares were sold was $97.71 and the highest price at which shares were sold was $98.70.
[F6]Represents the weighted average sale price. The lowest price at which shares were sold was $98.71 and the highest price at which shares were sold was $99.32
[F7]These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person.
[F8]These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse.
[F9]Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.

Documents

1 file

4
form4-08052025_100829.xmlPrimary

Issuer

Fortinet, Inc.

CIK 0001262039

→

Entity typeother

Related Parties

filerCIK 0001475587

Filing Metadata

Form type: 4
Filed: Aug 4, 8:00 PM ET
Accepted: Aug 5, 6:23 PM ET
Size: 29.9 KB

View on SEC.gov