# EDGAR Filing Document

**Accession Number:** 0001262039
**File Stem:** 0001213900-23-010362
**Filing Date:** 2023-2
**Character Count:** 11404
**Document Hash:** d41c24e95198594f5d4a1527b50cf391
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-010362.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001213900-23-010362

**CONFORMED SUBMISSION TYPE**: SC 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**SUBJECT COMPANY**: 

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

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-85281
- **FILM NUMBER:** 23613310

**BUSINESS ADDRESS:**
- **STREET 1:** 899 KIFER ROAD
- **CITY:** SUNNYVALE
- **STATE:** CA
- **ZIP:** 94086
- **BUSINESS PHONE:** 408-235-7700

**MAIL ADDRESS:**
- **STREET 1:** 899 KIFER ROAD
- **CITY:** SUNNYVALE
- **STATE:** CA
- **ZIP:** 94086

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

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

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A

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

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**SCHEDULE 13G**

Under the Securities Exchange Act of 1934

(Amendment No. 14)**\***

**Fortinet, Inc.**

(Name of Issuer)

**Common Stock, par value $0.001 per shares**

(Title of Class of Securities)

**34959E109**

(CUSIP Number)

**December 31, 2022**

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

&nbsp;&nbsp;&nbsp;&nbsp;☒ Rule
13d-1(d)

\* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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|:---|:---|:---|
| &nbsp;&nbsp;**CUSIP No. 34959E109** | &nbsp;&nbsp;**13G** | &nbsp;&nbsp;**Page 2 of 5 Pages** |

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|:---|:---|:---|
| 1 | NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)<br>**Ken Xie**  | NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)<br>**Ken Xie**  |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐<br> (b) ☐<br>|
| 3 | SEC USE ONLY | SEC USE ONLY |
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION<br>**United States** | CITIZENSHIP OR PLACE OF ORGANIZATION<br>**United States** |

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| | | |
|:---|:---|:---|
| NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY<br> EACH<br> REPORTING<br> PERSON WITH | 5 | SOLE VOTING POWER<br>**64,908,249(1)** |
| NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY<br> EACH<br> REPORTING<br> PERSON WITH | 6 | SHARED VOTING POWER<br>**12,802,800(2)** |
| NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY<br> EACH<br> REPORTING<br> PERSON WITH | 7 | SOLE DISPOSITIVE POWER<br>**64,908,249(1)** |
| NUMBER OF<br> SHARES<br> BENEFICIALLY<br> OWNED BY<br> EACH<br> REPORTING<br> PERSON WITH | 8 | SHARED DISPOSITIVE POWER<br>**12,802,800(2)** |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;9 | &nbsp;&nbsp;AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br>**77,711,049(3)** | &nbsp;&nbsp;AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br>**77,711,049(3)** |
| &nbsp;&nbsp;10 | &nbsp;&nbsp;CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | &nbsp;&nbsp;☐<br>|
| &nbsp;&nbsp;11 | &nbsp;&nbsp;PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br>**9.9%(4)** | &nbsp;&nbsp;PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br>**9.9%(4)** |
| &nbsp;&nbsp;12 | &nbsp;&nbsp;TYPE OF REPORTING PERSON<br>**IN**  | &nbsp;&nbsp;TYPE OF REPORTING PERSON<br>**IN**  |

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(1) Includes (i) 48,303,269 shares of
Common Stock held by the Reporting Person; (ii) 7,500,000 shares of Common Stock held by a grantor retained annuity trust for which the
Reporting Person is the settlor and trustee; (iii) 7,500,000 shares of Common Stock held by a grantor retained annuity trust for which
the Reporting Person is the trustee, (iv) 1,541,425 shares subject to options that are exercisable within 60 days of December 31, 2022,
all of which are vested; and (v) 63,555 shares issuable upon the settlement of restricted stock units ( ***"RSUs"***)
that will vest within 60 days of December 31, 2022.

(2) Includes 12,802,800 shares of Common Stock held by The Xie Foundation (the  ***"Foundation"***), a non-profit entity for which the Reporting Person serves as co-president and a director. The
Reporting Person has no pecuniary interest in and disclaims beneficial ownership of the shares of Common Stock held by the Foundation.

(3) Includes (i)
48,303,269 shares of Common Stock held by the Reporting Person; (ii) 7,500,000 shares of Common Stock held by a grantor retained annuity
trust for which the Reporting Person is the settlor and trustee, (iii) 7,500,000 shares of Common Stock held by a grantor retained annuity
trust for which the Reporting Person serves as trustee, (iv) 12,802,800 shares of Common Stock held by the Foundation; (v) 1,541,425 shares
subject to options that are exercisable within 60 days of December 31, 2022, all of which are vested; and (vi) 63,555 shares issuable
upon the settlement of RSUs that will vest within 60 days of December 31, 2022. The Reporting Person has no pecuniary interest in and
disclaims beneficial ownership of the shares of Common Stock held by the Foundation.

(4) Based on 781,470,935 shares of the Issuer's Common Stock outstanding
as of December 31, 2022.

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;<br> **CUSIP No. 34959E109** | &nbsp;&nbsp;**13G** | &nbsp;&nbsp;**Page 3 of 5 Pages** |

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|:---|:---|
| **Item 1(a)** | <u>Name of Issuer</u>: |

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**Fortinet, Inc.**

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|:---|:---|
| **Item 1(b)** | <u>Address of Issuer's Principal Executive Offices</u>: |

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**899 Kifer Road**

**Sunnyvale, CA 94086**

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|:---|:---|
| **Item 2(a)** | <u>Name of Person Filing</u>: |

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**Ken Xie**

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|:---|:---|
| **Item 2(b)** | <u>Address of Principal Business Office or, If None, Residence</u> |

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**c/o Fortinet, Inc.<br> 899 Kifer Road<br> Sunnyvale, CA 94086**

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| | |
|:---|:---|
| **Item 2(c)** | <u>Citizenship</u>: |

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**United States**

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| | |
|:---|:---|
| **Item 2(d)** | <u>Title of Class of Securities</u>: |

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**Common Stock, $0.001 par value per share**

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| | |
|:---|:---|
| **Item 2(e)** | <u>CUSIP Number</u>: |

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**34959E109**

**Item 3.** **Not applicable.**

**Item 4.** <u>Ownership</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Amount Beneficially Owned</u>:

**77,711,049(3)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Percent of Class</u>:

**9.9% (4)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Number of shares as to which the person has</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Sole
power to vote or direct the vote:

**64,908,249(1)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Shared
 power to vote or direct the vote:

**12,802,800(2)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Sole
 power to dispose or to direct the disposition of:

**64,908,249(1)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Shared
 power to dispose or to direct the disposition of:

**12,802,800(2)**

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|:---|:---|:---|
| &nbsp;&nbsp;<br> **CUSIP No. 34959E109** | &nbsp;&nbsp;**13G** | &nbsp;&nbsp;**Page 4 of 5 Pages** |

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(1) Includes (i) 48,303,269 shares of
Common Stock held by the Reporting Person; (ii) 7,500,000 shares of Common Stock held by a grantor retained annuity trust for which the
Reporting Person is the settlor and trustee; (iii) 7,500,000 shares of Common Stock held by a grantor retained annuity trust for which
the Reporting Person is the trustee; (iv) 1,541,425 shares subject to options that are exercisable within 60 days of December 31, 2022,
all of which are vested; and (v) 63,555 shares issuable upon the settlement of restricted stock units ( ***"RSUs"***)
that will vest within 60 days of December 31, 2022.

(2) Includes 12,802,800 shares of Common Stock held by The Xie Foundation (the  ***"Foundation"***), a non-profit entity for which the Reporting Person serves as co-president and a director. The
Reporting Person has no pecuniary interest in and disclaims beneficial ownership of the shares of Common Stock held by the Foundation.

(3) Includes (i) 48,303,269 shares of Common Stock held by the Reporting
Person; (ii) 7,500,000 shares of Common Stock held by a grantor retained annuity trust for which the Reporting Person is the settlor and
trustee, (iii) 7,500,000 shares of Common Stock held by a grantor retained annuity trust for which the Reporting Person serves as trustee,
(iv) 12,802,800 shares of Common Stock held by the Foundation; (v) 1,541,425 shares subject to options that are exercisable within 60
days of December 31, 2022, all of which are vested; and (vi) 63,555 shares issuable upon the settlement of RSUs that will vest within
60 days of December 31, 2022. The Reporting Person has no pecuniary interest in and disclaims beneficial ownership of the shares of Common
Stock held by the Foundation.

(4) Based on 781,470,935 shares of the Issuer's Common Stock outstanding
as of December 31, 2022.

**Item 5.** <u>Ownership of Five Percent or Less of a Class</u>

**Not applicable.**

**Item 6.** <u>Ownership of More Than Five Percent on Behalf of Another Person<br></u> <br> **Not applicable**.

**Item 7.** <u>Identification and Classification of Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person</u>

**Not applicable.** 

**Item 8.** <u>Identification and Classification of Members of the Group</u>

**Not applicable.**

**Item 9.** <u>Notice of Dissolution of Group</u>

**Not applicable.**

**Item 10.** <u>Certifications</u>

**Not applicable.**

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|:---|:---|:---|
| &nbsp;&nbsp;**CUSIP No. 34959E109** | &nbsp;&nbsp;**13G** | &nbsp;&nbsp;**Page 5 of 5 Pages** |

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**SIGNATURE**

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

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|:---|:---|:---|
| Dated: February 10, 2023 |  |  |
|  | By: | /s/ Ken Xie |
|  | Name: | Ken Xie |

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