SEC Form 4 · accession 0001140361-15-032532
Fortinet, Inc. · FTNT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christopher B Paisley
Director
Period of report
Aug 13, 2015
Accepted (ET)
Aug 17, 2015 · 5:22 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 | Aug 13, 2015 | M | 332 | $0.00 | A | 51,725 | D | |
| Common Stock | Aug 14, 2015 | M | 6,000 | $3.84 | A | 57,725 | D | |
| Common StockF3,F4 | Aug 14, 2015 | S | 6,000 | $46.2811 | D | 51,725 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF5,F6 | $0.00 | Aug 13, 2015 | M | 332 | D | — | — | Common Stock | 332 | 2,650 | D |
| Non-qualified stock option (right to buy)F7 | $3.84 | Aug 14, 2015 | M | 6,000 | D | — | Apr 30, 2016 | Common Stock | 6,000 | 12,000 | D |
Explanation of responses
- F1Vesting of restricted stock units ("RSUs") granted to the Reporting Person on August 13, 2013.
- F2The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 5, 2015.
- F3Represents the aggregate of sales effected on the same day at different prices.
- F4Represents the weighted average sales price per share. The shares sold at prices ranging from $46.11 to $46.42 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.
- F5Each RSU represents a contingent right to receive one share of the Issuer's common stock.
- F625% of the RSUs vest on August 13, 2014, then the remaining 75% of the RSUs vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the continuing service of the Reporting Person on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.
- F7The option is 100% vested and exercisable.