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Filing Details

Accession Number:: 0001140361-14-040199
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2014-11-04 19:55:39
Reporting Period:: 2014-11-01

Filing Date:: 2014-11-04
Accepted Time:: 2014-11-04 19:55:39
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1262039	Fortinet Inc	FTNT	Computer Peripheral Equipment, Nec (3577)	770560389

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1475586	Michael Xie	C/O Fortinet, Inc. 899 Kifer Road Sunnyvale CA 94086	Vp, Engineering & Cto	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2014-11-01	1,042	$0.00	6,567,442	No	4	M	Direct
Common Stock	Acquisiton	2014-11-01	2,500	$0.00	6,569,942	No	4	M	Direct
Common Stock	Disposition	2014-11-01	1,332	$26.05	6,568,610	No	4	F	Direct
Common Stock	Disposition	2014-11-04	2,210	$26.21	6,566,400	No	4	S	Direct
Common Stock	Disposition	2014-11-04	25,000	$26.38	6,541,400	No	4	S	Direct
Common Stock	Acquisiton	2014-11-04	50,000	$3.74	6,591,400	No	4	M	Direct
Common Stock	Disposition	2014-11-04	50,000	$26.38	6,541,400	No	4	S	Direct
Common Stock	Disposition	2014-11-04	20,000	$26.39	562,488	No	4	S	Indirect	See footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Direct
No	4	M	Direct
No	4	F	Direct
No	4	S	Direct
No	4	S	Direct
No	4	M	Direct
No	4	S	Direct
No	4	S	Indirect	See footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Restricted Stock Units	Disposition	2014-11-01	1,042	$0.00	1,042	$0.00
Common Stock	Restricted Stock Units	Disposition	2014-11-01	2,500	$0.00	2,500	$0.00
Common Stock	Non-qualified stock option (right to buy)	Disposition	2014-11-04	50,000	$0.00	50,000	$3.74

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
7,292		No	4	M	Direct
22,500		No	4	M	Direct
0	2015-02-07	No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	2,668,756	Indirect	See footnote
Common Stock	2,668,756	Indirect	See footnote

Footnotes

Vesting of restricted stock units ("RSUs") granted to the Reporting Person on August 8, 2012.
Vesting of RSUs granted to the Reporting Person on February 13, 2013.
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 on this line 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.
The transaction reported on this line was effected pursuant to Rule 10b5-1 trading plans adopted by the Reporting Person.
Represents the aggregate of sales effected on the same day at different prices.
Represents the weighted average sales price per share. The shares sold at prices ranging from $26.05 to $26.49 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
Represents the weighted average sales price per share. The shares sold at prices ranging from $26.06 to $26.49 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
Represents the weighted average sales price per share. The shares sold at prices ranging from $26.13 to $26.53 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
Shares held directly by The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.
Shares held directly by the 2014 Michael Xie Grantor Retained Annuity Trust dated March 6, 2014, for which the Reporting Person serves as a trustee.
Shares held directly by the 2014 Danke Wu Grantor Retained Annuity Trust dated March 6, 2014, 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.
25% of the RSUs vested on August 1, 2013, then the remaining 75% of the RSUs vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.
25% of the RSUs vested on February 1, 2014, then the remaining 75% of the RSUs vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.
The option is 100% vested and exercisable.