SEC Form 4 · accession 0001140361-17-008203
Fortinet, Inc. · FTNT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Whittle
Officer — VP CorpDev&Strat Alliance, GC
Period of report
Feb 15, 2017
Accepted (ET)
Feb 17, 2017 · 7:51 pm EST
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 StockF2,F3 | Feb 15, 2017 | S | 760 | $37.6848 | D | 9,368 | 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 UnitsF4,F5 | $0.00 | Feb 16, 2017 | A | 30,000 | A | — | — | Common Stock | 30,000 | 30,000 | D |
| Nonqualified Stock Option (right to buy)F6 | $37.24 | Feb 16, 2017 | A | 30,000 | A | — | Feb 16, 2024 | Common Stock | 30,000 | 30,000 | D |
Explanation of responses
- F1The sales reported on this Form 4 were effected pursuant to Rule 10b5-1 trading plans adopted by the Reporting Person on February 12, 2016.
- F2Represents the aggregate of sales effected on the same day at different prices. These shares were previously acquired by the Reporting Person under the Issuer's employee stock purchase plan on February 14, 2017.
- F3Represents the weighted average sales price per share. The shares sold at prices ranging from $37.64 to $37.72 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.
- F4Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
- F525% of the RSUs vest on February 1, 2018, 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 employment of the Reporting Person on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.
- F61/4 of the shares subject to the option vest on February 16, 2018 and 1/48 of the shares subject to the option vest monthly thereafter.