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Michael Xie

Filed: 27 May 20, 4:27pm
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Xie Michael

(Last)(First)(Middle)
C/O FORTINET, INC.
899 KIFER ROAD

(Street)
SUNNYVALECA94086

(City)(State)(Zip)
2. Issuer Name and Ticker or Trading Symbol
Fortinet, Inc. [ FTNT ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
VP, Engineering & CTO
3. Date of Earliest Transaction (Month/Day/Year)
05/26/2020
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8)4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock05/26/2020S(1)7,309D$137.4952(2)6,158,691D
Common Stock05/26/2020S(1)5,605D$138.7364(3)6,153,086D
Common Stock05/26/2020S(1)4,717D$139.825(4)6,148,369D
Common Stock05/26/2020S(1)2,507D$140.8202(5)6,145,862D
Common Stock05/26/2020S(1)3,236D$141.7087(6)6,142,626D
Common Stock05/26/2020S(1)3,523D$142.9174(7)6,139,103D
Common Stock05/26/2020S(1)2,303D$144.1059(8)6,136,800D
Common Stock05/26/2020S(1)800D$145.1363(9)6,136,000D
Common Stock05/26/2020S(1)9,845D$138.6908(10)3,588,369ISee Footnote(11)
Common Stock05/26/2020S(1)7,499D$139.7598(12)3,580,870ISee Footnote(11)
Common Stock05/26/2020S(1)3,277D$140.6692(13)3,577,593ISee Footnote(11)
Common Stock05/26/2020S(1)3,868D$141.649(14)3,573,725ISee Footnote(11)
Common Stock05/26/2020S(1)3,071D$142.8123(15)3,570,654ISee Footnote(11)
Common Stock05/26/2020S(1)1,458D$143.8709(16)3,569,196ISee Footnote(11)
Common Stock05/26/2020S(1)982D$144.6744(17)3,568,214ISee Footnote(11)
Common Stock1,991,686ISee Footnote(18)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)2. Conversion or Exercise Price of Derivative Security3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8)5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)8. Price of Derivative Security (Instr. 5)9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.
2. Represents the weighted average sale price. The lowest price at which shares were sold was $137.19 and the highest price at which shares were sold was $138.09. The reporting person undertakes to provide upon request to the staff of the Securities 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 (2) through (10) and (12) through (17) to this Form 4.
3. Represents the weighted average sale price. The lowest price at which shares were sold was $138.24 and the highest price at which shares were sold was $139.18.
4. Represents the weighted average sale price. The lowest price at which shares were sold was $139.34 and the highest price at which shares were sold was $140.22.
5. Represents the weighted average sale price. The lowest price at which shares were sold was $140.36 and the highest price at which shares were sold was $141.33.
6. Represents the weighted average sale price. The lowest price at which shares were sold was $141.42 and the highest price at which shares were sold was $142.28.
7. Represents the weighted average sale price. The lowest price at which shares were sold was $142.57 and the highest price at which shares were sold was $143.49.
8. Represents the weighted average sale price. The lowest price at which shares were sold was $143.62 and the highest price at which shares were sold was $144.60.
9. Represents the weighted average sale price. The lowest price at which shares were sold was $144.85 and the highest price at which shares were sold was $145.32.
10. Represents the weighted average sale price. The lowest price at which shares were sold was $138.00 and the highest price at which shares were sold was $138.95.
11. Shares held directly by The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.
12. Represents the weighted average sale price. The lowest price at which shares were sold was $139.14 and the highest price at which shares were sold was $140.13.
13. Represents the weighted average sale price. The lowest price at which shares were sold was $140.15 and the highest price at which shares were sold was $141.10.
14. Represents the weighted average sale price. The lowest price at which shares were sold was $141.20 and the highest price at which shares were sold was $142.10.
15. Represents the weighted average sale price. The lowest price at which shares were sold was $142.28 and the highest price at which shares were sold was $143.22.
16. Represents the weighted average sale price. The lowest price at which shares were sold was $143.295 and the highest price at which shares were sold was $144.26.
17. Represents the weighted average sale price. The lowest price at which shares were sold was $144.305 and the highest price at which shares were sold was $145.21.
18. Shares held directly by the 2010 K.A. Family Trust dated May 3, 2010, for which the Reporting Person serves as a trustee.
Remarks:
/s/ Robert Turner, by power of attorney05/27/2020
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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