SEC Form 4 · accession 0001140361-17-017208
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
Apr 25, 2017
Accepted (ET)
Apr 27, 2017 · 8:20 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 | Apr 25, 2017 | M | 100,000 | $20.235 | A | 6,582,000 | D | |
| Common Stock | Apr 25, 2017 | M | 50,000 | $20.13 | A | 6,632,000 | D | |
| Common Stock | Apr 25, 2017 | M | 80,000 | $26.70 | A | 6,712,000 | D | |
| Common StockF1 | holding | — | — | — | 1,632,913 | I | See Footnote | |
| Common StockF2 | holding | — | — | — | 1,632,913 | I | See Footnote | |
| Common StockF3 | holding | — | — | — | 1,991,686 | I | See Footnote | |
| Common StockF4 | holding | — | — | — | 462,488 | 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)F5 | $20.235 | Apr 25, 2017 | M | 100,000 | D | — | Feb 8, 2018 | Common Stock | 100,000 | 0 | D |
| Employee Stock Option (right to buy)F5 | $20.13 | Apr 25, 2017 | M | 50,000 | D | — | Aug 2, 2018 | Common Stock | 50,000 | 0 | D |
| Employee Stock Option (right to buy)F5 | $26.70 | Apr 25, 2017 | M | 80,000 | D | — | Feb 14, 2019 | Common Stock | 80,000 | 0 | D |
Explanation of responses
- F1Shares held directly by the 2014 Michael Xie Grantor Retained Annuity Trust dated March 6, 2014, for which the Reporting Person serves as a trustee.
- F2Shares held directly by the 2014 Danke Wu Grantor Retained Annuity Trust dated March 6, 2014, for which the Reporting Person serves as a trustee.
- F3Shares held directly by the 2010 K.A. Family Trust dated May 3, 2010, for which the Reporting Person serves as a trustee.
- F4Shares held directly by The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.
- F5The option is 100% vested and exercisable.