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Filing Details

Accession Number:: 0001209191-11-013406
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-02-28 19:29:41
Reporting Period:: 2011-02-24

Filing Date:: 2011-02-28
Accepted Time:: 2011-02-28 19:29:41
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
1248046	L John Walecka	3000 Sand Hill Road Building 2, Suite 290 Menlo Park CA 94025		Yes	No	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	Disposition	2011-02-24	30,000	$40.75	91,427	No	4	S	Indirect	By Trust
Common Stock	Acquisiton	2011-02-25	120,000	$1.95	120,000	No	4	M	Direct
Common Stock	Acquisiton	2011-02-25	3,000	$17.98	123,000	No	4	M	Direct
Common Stock	Disposition	2011-02-25	123,000	$41.39	0	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Trust
No	4	M	Direct
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option (right to buy)	Disposition	2011-02-25	120,000	$0.00	120,000	$1.95
Common Stock	Stock Option (right to buy)	Disposition	2011-02-25	3,000	$0.00	3,000	$17.98

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2012-08-13	No	4	M	Direct
21,000		2017-08-05	No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	27,602	Indirect	By Partnership

Footnotes

Price reflected is the weighted-average sale price for shares sold. The range of sale prices for the transactions reported was $40.66 to $40.88 per share. The Reporting Person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
The shares are held by the Walecka 1992 Living Trust udt dated December 31, 1992 ("Walecka Trust"). The Reporting Person is a trustee and beneficiary of the Walecka Trust. .
The number of shares reported as indirectly held by the Walecka Trust reflects the change in form of beneficial ownership of an aggregate of 43,250 shares previously reported as indirectly held through the Reporting Person's interest in Redpoint Ventures II, LP ("RV II LP") and Redpoint Associates II, LLC ("RA II"). Such shares were received by virtue of (i) a pro-rata in-kind distribution of common stock of the Issuer by RV II LP without consideration to its limited partners and Redpoint Ventures II, LLC ("RV II LLC"), its general partner, and the further pro-rata in-kind distribution of the shares received by RV II LLC without consideration to its members, including the Walecka Trust; and (ii) a pro-rata in-kind distribution of common stock of the Issuer by RA II without consideration to its members, including the Walecka Trust. Following these distributions, neither RV II LP, RV II LLC nor RA II hold any shares of the Issuer's Common Stock.
Price reflected is the weighted-average sale price for shares sold. The range of sale prices for the transactions reported was $41.31 to $41.58 per share. The Reporting Person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
The shares are held by Walecka Enterprises I, L.P. ("Walecka LP"). The Reporting Person is the General Manager of Walecka Capital LLC which serves as the general partner of Walecka LP.
The number of shares reported as indirectly held by Walecka LP reflects the change in form of beneficial ownership of an aggregate of 9,908 shares previously reported as indirectly held through the Reporting Person's interest in RV II LP. Such shares were received by virtue of a pro-rata in-kind distribution of common stock of the Issuer by RV II LP without consideration to its limited partners and RV II LLC, its general partner, and the further pro-rata in-kind distribution of the shares received by RV II LLC without consideration to its members, including Walecka LP. The Reporting Person disclaims beneficial ownership of the shares held by Walecka LP except to the extent of his proportionate pecuniary interest therein.
This option was vested with respect to 55,200 shares as of the grant date of the option, which was July 18, 2005. The balance of the shares subject to the option vested in 27 equal monthly installments thereafter, such that the award became fully vested on October 14, 2007.
The option vests in forty-eight equal monthly installments beginning on September 5, 2010.