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Fortinet, Inc.

Ken Xie (President & CEO) sells FTNT shares

4FTNTFiled Nov 3, 2026, 4:40 PM ET· Period Nov 1, 2026

AI-generated summary

Ken Xie, President & CEO, Director of Fortinet, Inc., reported multiple transactions including option exercises, RSU vestings, tax withholdings, and sales under a Rule 10b5-1 plan adopted on March 3, 2026. The insider acquired 168,094 shares through derivative conversions, had 6,611 shares withheld for taxes at $136.08 for a value of $899,624.88, and sold 161,483 shares at an average price of $129.31 for a total value of $20.9M. Following these transactions, the insider directly held 52,972,372 shares.

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

Key facts

Insider
Ken Xie · President & CEO, Director

Rule 10b5-1 plan · adopted Mar 3, 2026

DateTransactionSharesPriceValueHeld afterOwnership
Nov 1, 2026M · exercise or conversion of a derivativeFootnotes F1+6,260$0.00$0.0052,978,632Direct
Nov 1, 2026M · exercise or conversion of a derivativeFootnotes F1+4,558$0.00$0.0052,983,190Direct
Nov 1, 2026M · exercise or conversion of a derivativeFootnotes F1+2,276$0.00$0.0052,985,466Direct
Nov 1, 2026F · tax withholdingFootnotes F2−6,611$136.08$899,624.8852,978,855Direct
Nov 2, 2026M · exercise or conversion of a derivative+155,000$22.90$3,548,880.0053,133,855Direct
Nov 2, 2026S · open-market saleFootnotes F3, F4−32,988$126.17$4,162,161.9453,100,867Direct
Nov 2, 2026S · open-market saleFootnotes F3, F5−11,916$127.41$1,518,208.0353,088,951Direct
Nov 2, 2026S · open-market saleFootnotes F3, F6−13,083$128.27$1,678,211.3653,075,868Direct
Nov 2, 2026S · open-market saleFootnotes F3, F7−13,800$129.51$1,787,181.4253,062,068Direct
Nov 2, 2026S · open-market saleFootnotes F3, F8−60,167$130.44$7,847,996.9653,001,901Direct
Nov 2, 2026S · open-market saleFootnotes F3, F9−20,329$131.12$2,665,542.5552,981,572Direct
Nov 2, 2026S · open-market saleFootnotes F3, F10−6,500$132.31$860,028.0052,975,072Direct
Nov 2, 2026S · open-market saleFootnotes F3, F11−2,700$133.83$361,354.2352,972,372Direct
Nov 1, 2026M · exercise or conversion of a derivativeRestricted Stock UnitsFootnotes F12, F1, F13, F14−6,260$0.00$0.006,260Direct
Nov 1, 2026M · exercise or conversion of a derivativeRestricted Stock UnitsFootnotes F12, F1, F15, F14−4,558$0.00$0.0022,788Direct
Nov 1, 2026M · exercise or conversion of a derivativeRestricted Stock UnitsFootnotes F12, F1, F16, F14−2,276$0.00$0.0020,478Direct
Nov 2, 2026M · exercise or conversion of a derivativeStock Option ExerciseFootnotes F17−155,000$0.00$0.00151,470Direct
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 3, 2026.
  4. F4 Represents the weighted average sale price. The lowest price at which shares were sold was $125.87 and the highest price at which shares were sold was $126.86. 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 (11) to this Form 4.
  5. F5 Represents the weighted average sale price. The lowest price at which shares were sold was $126.87 and the highest price at which shares were sold was $127.83.
  6. F6 Represents the weighted average sale price. The lowest price at which shares were sold was $127.88 and the highest price at which shares were sold was $128.84.
  7. F7 Represents the weighted average sale price. The lowest price at which shares were sold was $128.88 and the highest price at which shares were sold was $129.87.
  8. F8 Represents the weighted average sale price. The lowest price at which shares were sold was $129.89 and the highest price at which shares were sold was $130.88.
  9. F9 Represents the weighted average sale price. The lowest price at which shares were sold was $130.89 and the highest price at which shares were sold was $131.88.
  10. F10 Represents the weighted average sale price. The lowest price at which shares were sold was $131.97 and the highest price at which shares were sold was $132.86.
  11. F11 Represents the weighted average sale price. The lowest price at which shares were sold was $133.28 and the highest price at which shares were sold was $133.95.
  12. F12 Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
  13. F13 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.
  14. F14 RSUs do not expire; they either vest or are canceled prior to the vesting date.
  15. F15 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 settlement.
  16. F16 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 vesting.
  17. F17 The options are fully vested.

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