0001209191-23-044524.txt : 20230803
0001209191-23-044524.hdr.sgml : 20230803
20230803175542
ACCESSION NUMBER: 0001209191-23-044524
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230801
FILED AS OF DATE: 20230803
DATE AS OF CHANGE: 20230803
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Xie Michael
CENTRAL INDEX KEY: 0001475586
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-34511
FILM NUMBER: 231141477
MAIL ADDRESS:
STREET 1: 1090 KIFER ROAD
CITY: SUNNYVALE
STATE: CA
ZIP: 94086
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Fortinet, Inc.
CENTRAL INDEX KEY: 0001262039
STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
IRS NUMBER: 770560389
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 899 KIFER ROAD
CITY: SUNNYVALE
STATE: CA
ZIP: 94086
BUSINESS PHONE: 408-235-7700
MAIL ADDRESS:
STREET 1: 899 KIFER ROAD
CITY: SUNNYVALE
STATE: CA
ZIP: 94086
FORMER COMPANY:
FORMER CONFORMED NAME: FORTINET INC
DATE OF NAME CHANGE: 20030902
4
1
doc4.xml
FORM 4 SUBMISSION
X0508
4
2023-08-01
0
0001262039
Fortinet, Inc.
FTNT
0001475586
Xie Michael
C/O FORTINET, INC.
899 KIFER ROAD
SUNNYVALE
CA
94086
1
1
0
0
VP, Engineering & CTO
0
Common Stock
2023-08-01
4
M
0
5095
0.00
A
29732113
D
Common Stock
2023-08-01
4
M
0
4550
0.00
A
29736663
D
Common Stock
2023-08-01
4
M
0
2030
0.00
A
29738693
D
Common Stock
2023-08-01
4
F
0
5790
78.03
D
29732903
D
Common Stock
2023-08-02
4
S
0
3885
74.4762
D
29729018
D
Common Stock
2023-08-02
4
S
0
900
75.5367
D
29728118
D
Common Stock
2023-08-02
4
S
0
1000
76.631
D
29727118
D
Common Stock
2023-08-02
4
S
0
100
77.24
D
29727018
D
Common Stock
9958430
I
See footnote
Common Stock
17041070
I
See footnote
Restricted Stock Units
0.00
2023-08-01
4
M
0
5095
0.00
D
Common Stock
5095
10185
D
Restricted Stock Units
0.00
2023-08-01
4
M
0
4550
0.00
D
Common Stock
4550
27325
D
Restricted Stock Units
0.00
2023-08-01
4
M
0
2030
0.00
D
Common Stock
2030
20300
D
Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.
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.
The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 3, 2022.
Represents the weighted average sale price. The lowest price at which shares were sold was $74.07 and the highest price at which shares were sold was $75.03. 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.
Represents the weighted average sale price. The lowest price at which shares were sold was $75.08 and the highest price at which shares were sold was $76.07. 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.
Represents the weighted average sale price. The lowest price at which shares were sold was $76.21 and the highest price at which shares were sold was $76.87. 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.
Shares held directly by the 2010 K.A. Family Trust dated May 3, 2010, for which the Reporting Person serves as a trustee.
Shares held directly by The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.
Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
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.
RSUs do not expire; they either vest or are canceled prior to the vesting date.
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.
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.
/s/ Robert Turner, by power of attorney
2023-08-03