# EDGAR Filing Document

**Accession Number:** 0001262039
**File Stem:** 0001415889-25-021079
**Filing Date:** 2025-8
**Character Count:** 10343
**Document Hash:** 5a49e43b53893a97f24f1086b2deef9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001415889-25-021079.hdr.sgml**: 20250805

**ACCESSION NUMBER**: 0001415889-25-021079

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250801

**FILED AS OF DATE**: 20250805

**DATE AS OF CHANGE**: 20250805

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Xie Ken
- **CENTRAL INDEX KEY:** 0001475587

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34511
- **FILM NUMBER:** 251186572

**MAIL ADDRESS:**
- **STREET 1:** 4655 GREAT AMERICA PARKWAY - SUITE 300
- **CITY:** SANTA CLARA
- **STATE:** CA
- **ZIP:** 95054
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fortinet, Inc.
- **CENTRAL INDEX KEY:** 0001262039
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 770560389
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 909 KIFER ROAD
- **CITY:** SUNNYVALE
- **STATE:** CA
- **ZIP:** 94086
- **BUSINESS PHONE:** 408-235-7700

**MAIL ADDRESS:**
- **STREET 1:** 909 KIFER ROAD
- **CITY:** SUNNYVALE
- **STATE:** CA
- **ZIP:** 94086

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FORTINET INC
- **DATE OF NAME CHANGE:** 20030902

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[x] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Xie Ken<br><sub>(Last) (First) (Middle)</sub><br>C/O FORTINET, INC.<br>909 KIFER ROAD<br><sub>(Street)</sub><br>SUNNYVALE, CA 94086<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-01 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_PRESIDENT & CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Fortinet, Inc. [ FTNT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-08-01 |  | M<sup>(1)</sup> |  | 6015 | A | $0 | 51397894 | D |  |
| Common Stock | 2025-08-01 |  | M<sup>(1)</sup> |  | 6260 | A | $0 | 51404154 | D |  |
| Common Stock | 2025-08-01 |  | M<sup>(1)</sup> |  | 4558 | A | $0 | 51408712 | D |  |
| Common Stock | 2025-08-01 |  | F<sup>(2)</sup> |  | 8347 | D | $97.36 | 51400365 | D |  |
| Common Stock | 2025-08-04 |  | M |  | 150000 | A | $16.898 | 51550365 | D |  |
| Common Stock | 2025-08-04 |  | S<sup>(3)</sup> |  | 4900 | D | 97.3533<sup>(4)</sup> | 51545465 | D |  |
| Common Stock | 2025-08-04 |  | S<sup>(3)</sup> |  | 129209 | D | 98.4383<sup>(5)</sup> | 51416256 | D |  |
| Common Stock | 2025-08-04 |  | S<sup>(3)</sup> |  | 24377 | D | 98.9353<sup>(6)</sup> | 51391879 | D |  |
| Common Stock |  |  |  |  |  |  |  | 3243799 | I | By trust<sup>(7)</sup> |
| Common Stock |  |  |  |  |  |  |  | 3243799 | I | By trust<sup>(8)</sup> |
| Common Stock |  |  |  |  |  |  |  | 2314268 | I | By Spouse<sup>(8)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Restricted Stock Units | 0<sup>(9)</sup> | 2025-08-01 |  | M<sup>(1)</sup> |  |  | 6015 | <sup>(10)</sup> | <sup>(11)</sup> | Common Stock | 6015 | $0 | 12035 | D |  |
| Restricted Stock Units | 0<sup>(9)</sup> | 2025-08-01 |  | M<sup>(1)</sup> |  |  | 6260 | <sup>(12)</sup> | <sup>(11)</sup> | Common Stock | 6260 | $0 | 37560 | D |  |
| Restricted Stock Units | 0<sup>(9)</sup> | 2025-08-01 |  | M<sup>(1)</sup> |  |  | 4558 | <sup>(13)</sup> | <sup>(11)</sup> | Common Stock | 4558 | $0 | 45576 | D |  |
| Nonqualified Stock Option (right to buy) | $16.898 | 2025-08-04 |  | M |  |  | 150000 | <sup>(14)</sup> | 2026-02-21 | Common Stock | 150000 | $0 | 284880 | D |  |

---

### Footnotes:

(1) Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.

(2) Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of RSUs.

(3) The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 9, 2024.

(4) Represents the weighted average sale price. The lowest price at which shares were sold was $96.69 and the highest price at which shares were sold was $97.66. The Reporting Person undertakes to provide upon request to the staff of the Securities and 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 (4), (5) and (6) to this Form 4.

(5) Represents the weighted average sale price. The lowest price at which shares were sold was $97.71 and the highest price at which shares were sold was $98.70.

(6) Represents the weighted average sale price. The lowest price at which shares were sold was $98.71 and the highest price at which shares were sold was $99.32

(7) These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person.

(8) These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse.

(9) Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.

(10) 25% of the RSUs vested on February 1, 2023, and the remaining 75% of the RSUs will vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon settlement.

(11) RSUs do not expire; they either vest or are canceled prior to the vesting date.

(12) 25% of the RSUs vested on February 1, 2024, and the remaining 75% of the RSUs will vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon settlement.

(13) 25% of the RSUs will vest on February 1, 2025, and the remaining 75% of the RSUs will vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon settlement.

(14) 1/4 of the shares subject to the option vested on February 21, 2020 and 1/48 of the shares subject to the option vest monthly thereafter.

**Signature:** /s/ Robert Turner, by power of attorney  
**Date:** 2025-08-05

### Remarks:

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).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**