Filing Details
- Accession Number:
- 0001209191-23-027192
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2023-05-03 20:51:18
- Reporting Period:
- 2023-05-01
- Accepted Time:
- 2023-05-03 20:51:18
- 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 |
|---|---|---|---|---|---|---|---|
| 1924858 | Patrice Perche | C/O Fortinet, Inc. 899 Kifer Road Sunnyvale CA 94086 | Chief Revenue Off./Evp Supp. | No | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Acquisiton | 2023-05-01 | 3,805 | $0.00 | 29,535 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2023-05-01 | 3,725 | $0.00 | 33,260 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2023-05-01 | 1,890 | $0.00 | 35,150 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2023-05-01 | 473 | $62.81 | 34,677 | No | 4 | F | Direct | |
| Common Stock | Disposition | 2023-05-03 | 5,068 | $60.97 | 29,609 | No | 4 | S | Direct | |
| Common Stock | Disposition | 2023-05-03 | 3,879 | $61.56 | 25,730 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | M | Direct | |
| No | 4 | M | Direct | |
| No | 4 | F | Direct | |
| No | 4 | S | Direct | |
| No | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Restricted Stock Units | Disposition | 2023-05-01 | 3,805 | $0.00 | 3,805 | $0.00 |
| Common Stock | Restricted Stock Units | Disposition | 2023-05-01 | 3,725 | $0.00 | 3,725 | $0.00 |
| Common Stock | Restricted Stock Units | Disposition | 2023-05-01 | 1,890 | $0.00 | 1,890 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 11,425 | No | 4 | M | Direct | ||
| 26,080 | No | 4 | M | Direct | ||
| 20,795 | No | 4 | M | Direct |
Footnotes
- 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 June 6, 2022 and modified on December 6, 2022.
- Represents the weighted average sale price. The lowest price at which shares were sold was $60.37 and the highest price at which shares were sold was $61.35. 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 $61.38 and the highest price at which shares were sold was $61.64. 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.
- 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.
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