Fortinet insider plans $27.9M Rule 144 share sale

Fortinet insider files to sell 343,106 common shares under Rule 144, with an aggregate market value of $27,880,793.56.

Rhea-AI Filing Summary

Fortinet insider files to sell 343,106 common shares under Rule 144, with an aggregate market value of $27,880,793.56. The shares are to be sold through Morgan Stanley Smith Barney LLC on NASDAQ, with an approximate sale date of February 2, 2026.

The shares come from recent equity awards, including stock option exercises and vested restricted and performance stock units. The notice also lists prior sales in the past three months by several institutional holders and sales under a Rule 10b5‑1 plan for Michael Xie.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the FTNT Rule 144 filing disclose about upcoming share sales?

The filing discloses a proposed sale of 343,106 common shares of Fortinet with an aggregate market value of $27,880,793.56. These shares are planned to be sold on NASDAQ through Morgan Stanley Smith Barney LLC on or about February 2, 2026.

How many Fortinet (FTNT) shares are outstanding in this Rule 144 notice?

The notice states there are 743,648,102 common shares outstanding. This figure provides a baseline context for the relative size of the proposed 343,106‑share sale described in the filing, which is to be executed on NASDAQ through Morgan Stanley Smith Barney LLC.

What is the source of the FTNT shares being sold under Rule 144?

The shares come from recent equity awards: 324,285 shares from stock option exercises on February 2, 2026, plus 3,483 restricted stock units and 15,338 performance stock units acquired on February 1, 2026. Some were paid in cash upon option exercise, others are noted as N/A for payment.

Which broker will handle the planned FTNT Rule 144 share sale?

The proposed sale will be handled by Morgan Stanley Smith Barney LLC Executive Financial Services, located at 1 New York Plaza, 8th Floor, New York, NY 10004. The filing indicates the common shares will be sold on the NASDAQ exchange around February 2, 2026.

What prior FTNT share sales in the last three months are listed in the filing?

The filing lists several sales of common shares in November 2025 by entities including The Board of Trustees of The Leland Stanford Junior University, UC Berkeley, PSU Foundation, and Creative Center of Los Altos, as well as 10b5‑1 sales for Michael Xie on November 3, 2025.

What representation does the seller make in the FTNT Rule 144 notice?

By signing, the seller represents they do not know any undisclosed material adverse information about the issuer’s current or prospective operations. For any Rule 10b5‑1 trading plan, the representation applies as of the plan’s adoption or instruction date, as referenced in the form.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/02/2026 - 04:33 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001475586
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	FORTINET, INC
SEC File Number	001-34511
Address of Issuer	909 Kifer Road Sunnyvale CALIFORNIA 94086
Phone	4082357700
Name of Person for Whose Account the Securities are To Be Sold	MICHAEL XIE
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director
Relationship to Issuer	Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	343106	27880793.56	743648102	02/02/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	02/02/2026	Exercise of Stock Options	Issuer			324285	02/02/2026	Cash
Common	02/01/2026	Restricted Stock Units	Issuer			3483	02/01/2026	N/A
Common	02/01/2026	Performance Stock Units	Issuer			15338	02/01/2026	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY 326 Galvez Street Stanford CA 94305	Common	11/25/2025	10130	818649.87
UC Berkeley 1600 SW 4th Ave #730 Portland OR 97201	Common	11/19/2025	2391	187209.80
PSU Foundation 1995 University Avenue Suite 400 Berkeley CA 94704	Common	11/19/2025	7172	572648.34
THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY 326 Galvez Street Stanford CA 94305	Common	11/18/2025	125508	10033686.86
Creative Center of Los Altos dba Pinewood School 327 Fremont Ave Los Altos CA 94024	Common	11/18/2025	65742	5306365.53
10b5-1 Sales for MICHAEL XIE 909 Kifer Road Sunnyvale CA 94086	Common	11/03/2025	3546	306825.10

144: Remarks and Signature

Remarks
Date of Notice	02/02/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	12/10/2024
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Michael Xie
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)