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Filing Details

Accession Number:: 0001181431-11-035809
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-06-08 19:52:58
Reporting Period:: 2011-06-07

Filing Date:: 2011-06-08
Accepted Time:: 2011-06-08 19:52:58
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
1475587	Ken Xie	C/O Fortinet, Inc. 1090 Kifer Road Sunnyvale CA 94086	President & Ceo	Yes	Yes	Yes	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	2011-06-07	120,000	$23.91	12,503,898	No	4	S	Direct
Common Stock	Disposition	2011-06-07	24,000	$0.00	12,479,898	No	5	G	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	5	G	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	2,403,144	Indirect	See footnote
Common Stock	2,403,144	Indirect	See footnote

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Employee Stock Option (right to buy)	$3.74	2015-02-07	150,000	150,000	Direct
Common Stock	Employee Stock Option (right to buy)	$3.74	2015-07-31	300,000	300,000	Direct
Common Stock	Employee Stock Option (right to buy)	$3.74	2016-01-28	200,000	200,000	Direct
Common Stock	Employee Stock Option (right to buy)	$8.43	2017-02-10	100,000	100,000	Direct
Common Stock	Employee Stock Option (right to buy)	$20.24	2018-02-08	100,000	100,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2015-02-07	150,000	150,000	Direct
2015-07-31	300,000	300,000	Direct
2016-01-28	200,000	200,000	Direct
2017-02-10	100,000	100,000	Direct
2018-02-08	100,000	100,000	Direct

Footnotes

The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 23, 2011.
The sale price reported in column 4 of Table I represents the weighted average sale price of the shares sold ranging from $23.395 to $24.26 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
On June 1, 2011, the common stock of the Issuer split 2-for-1, in the form of a 100% stock dividend, to all stockholders of record as of the close of business on May 9, 2011 (the "Stock Split").
As a result of the Stock Split, the Reporting Person's ownership includes 6,311,949 additional shares of common stock.
As a result of the Stock Split, ownership by The Ken Xie 2009 Grantor Retained Annuity Trust dated September 10, 2009 for which the Reporting Person serves as trustee (the "Xie 2009 GRAT") includes 1,201,572 additional shares of common stock.
Shares held directly by the Xie 2009 GRAT.
As a result of the Stock Split, ownership by The Winnie Hiu-Yin Lee 2009 Grantor Retained Annuity Trust dated September 10, 2009 for which the Reporting Person's spouse serves as trustee (the "Lee 2009 GRAT") includes 1,201,572 additional shares of common stock.
Shares held directly by the Lee 2009 GRAT.
This option was previously reported as covering 75,000 shares at an exercise price of $7.47 per share, but was adjusted to reflect the Stock Split.
One-fourth of the shares subject to the option vested on May 4, 2008 and one forty-eighth of the shares shall vest monthly thereafter.
This option was previously reported as covering 150,000 shares at an exercise price of $7.47 per share, but was adjusted to reflect the Stock Split.
One-fourth of the shares subject to the option vested on July 31, 2009 and one forty-eighth of the shares shall vest monthly thereafter.
This option was previously reported as covering 100,000 shares at an exercise price of $7.47 per share, but was adjusted to reflect the Stock Split.
One-fourth of the shares subject to the option vested on January 28, 2010 and one forty-eighth of the shares shall vest monthly thereafter.
This option was previously reported as covering 50,000 shares at an exercise price of $16.86 per share, but was adjusted to reflect the Stock Split.
One-fourth of the shares subject to the option vested on February 10, 2011 and one forty-eighth of the shares shall vest monthly thereafter.
This option was previously reported as covering 50,000 shares at an exercise price of $40.47 per share, but was adjusted to reflect the Stock Split.
One-fourth of the shares subject to the option vest on February 8, 2012 and one forty-eighth of the shares shall vest monthly thereafter.