SEC Form 4 · accession 0001140361-15-029358
Fortinet, Inc. · FTNT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Xie
Officer — VP, Engineering & CTO · Director
Period of report
Jul 30, 2015
Accepted (ET)
Jul 31, 2015 · 5:12 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001262039
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jul 30, 2015 | M | 250,000 | $3.735 | A | 6,534,400 | D | |
| Common StockF2,F3 | Jul 30, 2015 | S | 250,000 | $47.3161 | D | 6,284,400 | D | |
| Common StockF4 | holding | — | — | — | 462,488 | I | See footnote | |
| Common StockF5 | holding | — | — | — | 2,251,323 | I | See footnote | |
| Common StockF6 | holding | — | — | — | 2,251,323 | I | See footnote | |
| Common StockF7 | holding | — | — | — | 834,866 | I | See footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F8 | $3.735 | Jul 30, 2015 | M | 250,000 | D | — | Jul 31, 2015 | Common Stock | 250,000 | 0 | D |
Explanation of responses
- F1The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 2, 2014.
- F2Represents the aggregate of sales effected on the same day at different prices.
- F3Represents the weighted average sales price per share. The shares sold at prices ranging from $46.72 to $47.70 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
- F4Shares held directly by The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.
- F5Shares held directly by the 2014 Michael Xie Grantor Retained Annuity Trust dated March 6, 2014, for which the Reporting Person serves as a trustee.
- F6Shares held directly by the 2014 Danke Wu Grantor Retained Annuity Trust dated March 6, 2014, for which the Reporting Person serves as a trustee.
- F7Shares held directly by the 2010 K.A. Family Trust dated May 3, 2010, for which the Reporting Person serves as a trustee.
- F8The option is 100% vested and exercisable.