Fortinet, Inc. · Exercise / conversion · Common Stock

What does this filing report?

An SEC Form 4 filing for Fortinet, Inc. records an exercise / conversion involving Common Stock on November 1, 2025. The reported quantity was 2,242. The filing date is November 4, 2025. This is one transaction record; amounts are not allocated among any joint reporting owners.

The acquisition category describes how securities were received. It does not by itself establish a cash purchase of common stock. Read the transaction code definitionsand the original filing before interpreting the amounts.

Filing footnotes & remarks

F1

Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.

F2

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.

F3

The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 10, 2024.

F4

Represents the weighted average sale price. The lowest price at which shares were sold was $84.91 and the highest price at which shares were sold was $85.89. 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 ranges set forth in footnotes (4), (5) and (6) to this Form 4.

F5

Represents the weighted average sale price. The lowest price at which shares were sold was $85.93 and the highest price at which shares were sold was $86.85.

F6

Represents the weighted average sale price. The lowest price at which shares were sold was $87.07 and the highest price at which shares were sold was $87.54.

F7

These securities are held by the 2010 K.A. Family Trust dated May 3, 2010, for which the Reporting Person serves as a trustee.

F8

These securities are held by the KAXX Trust under the K.A. Children's Trust dated February 9, 2011, for which the Reporting Person and his spouse serve as trustees.

F9

These securities are held by the KAJJ Trust under the K.A. Children's Trust dated February 9, 2011, for which the Reporting Person and his spouse serve as trustees.

F10

These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person.

F11

These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse.

F12

Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.

F13

25% of the RSUs vested 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.

F14

RSUs do not expire; they either vest or are canceled prior to the vesting date.

F15

25% of the RSUs vested on February 1, 2024, 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.

F16

25% of the RSUs will vest on February 1, 2025, 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.

Footnotes are reproduced as plain text from the current source filing. For the full context, read the original SEC filing.