Fortinet Inc.

01/15/2025 | Press release | Distributed by Public on 01/15/2025 18:04

Statement of Changes in Beneficial Ownership (Form 4)

Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Xie Ken
2. Issuer Name and Ticker or Trading Symbol
Fortinet, Inc. [FTNT] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
PRESIDENT & CEO
(Last) (First) (Middle)
C/O FORTINET, INC., 909 KIFER ROAD 		3. Date of Earliest Transaction (Month/Day/Year)
01/14/2025
(Street)
SUNNYVALE, CA 94086 		4. If Amendment, Date Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 		7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/14/2025 M 41,667 A $9.812 49,044,089 D
Common Stock 01/14/2025 S(1) 9,711 D $91.9042(2) 49,034,378 D
Common Stock 01/14/2025 S(1) 13,302 D $92.5313(3) 49,021,076 D
Common Stock 01/15/2025 M 41,666 A $9.812 49,062,742 D
Common Stock 01/15/2025 S(1) 22,344 D $93.3009(4) 49,040,398 D
Common Stock 01/15/2025 S(1) 700 D $93.9214(5) 49,039,698 D
Common Stock 4,256,201 I By trust(6)
Common Stock 4,256,201 I By trust(7)
Common Stock 3,243,799 I By trust(8)
Common Stock 3,243,799 I By trust(9)
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5) 		6. Date Exercisable and Expiration Date
(Month/Day/Year) 		7. Title and Amount of Underlying Securities
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4) 		10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) 		11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Nonqualified Stock Option (right to buy) $9.812 01/14/2025 M 41,667 (10) 02/20/2025 Common Stock 41,667 $ 0 125,000 D
Nonqualified Stock Option (right to buy) $9.812 01/15/2025 M 41,666 (10) 02/20/2025 Common Stock 41,666 $ 0 83,334 D

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Xie Ken
C/O FORTINET, INC.
909 KIFER ROAD
SUNNYVALE, CA 94086 		X PRESIDENT & CEO

Signatures

/s/ Robert Turner, by power of attorney 01/15/2025
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 8, 2023.
(2) Represents the weighted average sale price. The lowest price at which shares were sold was $91.24 and the highest price at which shares were sold was $92.23. 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 (2) through (5) to this Form 4.
(3) Represents the weighted average sale price. The lowest price at which shares were sold was $92.24 and the highest price at which shares were sold was $93.18.
(4) Represents the weighted average sale price. The lowest price at which shares were sold was $92.87 and the highest price at which shares were sold was $93.84.
(5) Represents the weighted average sale price. The lowest price at which shares were sold was $93.87 and the highest price at which shares were sold was $93.97.
(6) These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person.
(7) These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse.
(8) These securities are held by a 2024 grantor retained annuity trust for the benefit of the Reporting Person.
(9) These securities are held by a 2024 grantor retained annuity trust for the benefit of the Reporting Person's spouse.
(10) The options are fully vested.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.