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Fortinet, Inc.

Michael Xie (VP, Engineering & CTO) sells FTNT shares

4FTNTFiled Nov 3, 2026, 4:37 PM ET· Period Nov 1, 2026

AI-generated summary

Michael Xie, VP, Engineering & CTO, Director, had several transactions. They experienced RSU vesting of 6,305 shares, tax withholding of 3,184 shares for $433,278.72 at an average price of $136.08, and an open-market sale of 3,121 shares for $404,125.31 at an average price of $129.49. Some transactions were made under a Rule 10b5-1 trading plan adopted on March 4, 2026. After these transactions, they directly held 9,918,360 shares of Common Stock.

View original filing on SEC.gov (opens SEC EDGAR)

Key facts

Insider
Michael Xie · VP, Engineering & CTO, Director

Rule 10b5-1 plan · adopted Mar 4, 2026

DateTransactionSharesPriceValueHeld afterOwnership
Nov 1, 2026M · exercise or conversion of a derivativeFootnotes F1+2,763$0.00$0.009,921,123Direct
Nov 1, 2026M · exercise or conversion of a derivativeFootnotes F1+2,242$0.00$0.009,923,365Direct
Nov 1, 2026M · exercise or conversion of a derivativeFootnotes F1+1,300$0.00$0.009,924,665Direct
Nov 1, 2026F · tax withholdingFootnotes F2−3,184$136.08$433,278.729,921,481Direct
Nov 2, 2026S · open-market saleFootnotes F3, F4−621$126.08$78,296.369,921,481Direct
Nov 2, 2026S · open-market saleFootnotes F3, F5−400$127.60$51,039.009,920,460Direct
Nov 2, 2026S · open-market saleFootnotes F3, F6−400$129.34$51,737.009,920,060Direct
Nov 2, 2026S · open-market saleFootnotes F3, F7−1,100$130.62$143,685.969,918,960Direct
Nov 2, 2026S · open-market saleFootnotes F3, F8−300$131.29$39,387.999,918,660Direct
Nov 2, 2026S · open-market saleFootnotes F3, F9−200$132.92$26,584.009,918,460Direct
Nov 2, 2026S · open-market saleFootnotes F3−100$133.95$13,395.009,918,360Direct
Nov 1, 2026M · exercise or conversion of a derivativeRestricted Stock UnitsFootnotes F15, F1, F16, F17−2,763$0.00$0.002,764Direct
Nov 1, 2026M · exercise or conversion of a derivativeRestricted Stock UnitsFootnotes F15, F1, F18, F17−2,242$0.00$0.0011,212Direct
Nov 1, 2026M · exercise or conversion of a derivativeRestricted Stock UnitsFootnotes F15, F1, F19, F17−1,300$0.00$0.0011,702Direct
Footnotes
  1. F1 Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.
  2. F2 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 restricted stock units.
  3. F3 The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 4, 2026.
  4. F4 Represents the weighted average sale price. The lowest price at which shares were sold was $125.93 and the highest price at which shares were sold was $126.30. 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) through (9) to this Form 4.
  5. F5 Represents the weighted average sale price. The lowest price at which shares were sold was $127.32 and the highest price at which shares were sold was $128.09.
  6. F6 Represents the weighted average sale price. The lowest price at which shares were sold was $129.02 and the highest price at which shares were sold was $129.93.
  7. F7 Represents the weighted average sale price. The lowest price at which shares were sold was $130.16 and the highest price at which shares were sold was $131.04.
  8. F8 Represents the weighted average sale price. The lowest price at which shares were sold was $131.23 and the highest price at which shares were sold was $131.40.
  9. F9 Represents the weighted average sale price. The lowest price at which shares were sold was $132.62 and the highest price at which shares were sold was $133.22.
  10. F10 These securities are held by the 2010 K.A. Family Trust dated May 3, 2010, for which the Reporting Person serves as a trustee.
  11. F11 Shares held directly by the KAXX Trust under The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.
  12. F12 Shares held directly by the KAJJ Trust under The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.
  13. F13 These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person.
  14. F14 These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse.
  15. F15 Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
  16. F16 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.
  17. F17 RSUs do not expire; they either vest or are canceled prior to the vesting date.
  18. F18 25% of the RSUs vested 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 vesting.
  19. F19 25% of the RSUs vested on February 1, 2026, 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.

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Not investment advice. Summaries can contain errors; the SEC filing is the official record.