Fortinet (FTNT) director Stavridis acquires 649 shares through RSU vesting

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Fortinet, Inc. director James G. Stavridis increased his direct shareholdings through equity compensation. On March 31, 2026, 649 Restricted Stock Units (RSUs) vested and were converted into 649 shares of Fortinet common stock at a price of $0.00 per share, reflecting a compensation-related derivative exercise rather than an open-market purchase.

The RSUs were granted on August 20, 2025 and are scheduled to vest in substantially equal increments on September 30, 2025, December 31, 2025, March 31, 2026, and the earlier of June 30, 2026 or the date immediately preceding Fortinet's 2026 annual stockholder meeting, subject to continued service. After this vesting event, Stavridis directly holds 16,539 shares of Fortinet common stock, and the filing shows no remaining derivative position related to this transaction.

Insider Trade Summary

649 shares exercised/converted

Mixed 2 txns

Insider STAVRIDIS JAMES G.

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	649	$0.00	--
Exercise	Common Stock	649	$0.00	--

Holdings After Transaction: Restricted Stock Units — 650 shares (Direct); Common Stock — 16,539 shares (Direct)

Footnotes (1)

Vesting of restricted stock units ("RSUs") granted to the Reporting Person on August 20, 2025. Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement. The RSUs will vest in substantially equal increments on each of September 30, 2025, December 31, 2025, March 31, 2026, and the earlier of (i) June 30, 2026 and (ii) the date immediately preceding the Issuer's 2026 annual meeting of stockholders, subject to the Reporting Person's provision of services to the Issuer on each vesting date. Shares of the Issuer's Common Stock will be delivered to the Reporting Person following vesting. RSUs do not expire; they either vest or are canceled prior to vest date

Key Figures

RSUs Exercised: 649 units Shares Acquired via RSU: 649 shares Post-transaction Holdings: 16,539 shares +2 more

5 metrics

RSUs Exercised 649 units Restricted Stock Units vested and converted on March 31, 2026

Shares Acquired via RSU 649 shares Common stock received from RSU settlement at $0.00 per share

Post-transaction Holdings 16,539 shares Direct Fortinet common stock held after March 31, 2026 transaction

Grant Date of RSUs August 20, 2025 Original grant date for RSUs that vest in four increments

Vesting Schedule End Earlier of June 30, 2026 or pre-2026 meeting Final vesting trigger for remaining RSU installments, subject to service

Key Terms

Restricted Stock Units, contingent right, vest in substantially equal increments, derivative exercise/conversion, +1 more

5 terms

Restricted Stock Units financial

"Vesting of restricted stock units ("RSUs") granted to the Reporting Person on August 20, 2025."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

contingent right financial

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

vest in substantially equal increments financial

"The RSUs will vest in substantially equal increments on each of September 30, 2025, December 31, 2025, March 31, 2026, and the earlier of (i) June 30, 2026 and (ii) the date immediately preceding the Issuer's 2026 annual meeting of stockholders"

derivative exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

do not expire; they either vest or are canceled financial

"RSUs do not expire; they either vest or are canceled prior to vest date"

Form 4 Insider Transactions: What Each Field Means →

04/01/2026 - 06:39 PM

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

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^*

STAVRIDIS JAMES G.

(Last)

(First)

(Middle)

C/O FORTINET, INC.

909 KIFER ROAD

(Street)

SUNNYVALE

CALIFORNIA

94086

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Fortinet, Inc. [ FTNT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/31/2026		M⁽¹⁾		649	A	$0	16,539	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	$0⁽²⁾	03/31/2026		M⁽¹⁾			649	⁽³⁾	⁽⁴⁾	Common Stock	649	$0	650	D

Explanation of Responses:

1. Vesting of restricted stock units ("RSUs") granted to the Reporting Person on August 20, 2025.

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

3. The RSUs will vest in substantially equal increments on each of September 30, 2025, December 31, 2025, March 31, 2026, and the earlier of (i) June 30, 2026 and (ii) the date immediately preceding the Issuer's 2026 annual meeting of stockholders, subject to the Reporting Person's provision of services to the Issuer on each vesting date. Shares of the Issuer's Common Stock will be delivered to the Reporting Person following vesting.

4. RSUs do not expire; they either vest or are canceled prior to vest date

	/s/ Robert Turner, by power of attorney	04/01/2026
	** Signature of Reporting Person	Date
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Fortinet (FTNT) director James G. Stavridis report?

James G. Stavridis reported a vesting and exercise of equity compensation, not an open-market trade. On March 31, 2026, 649 Restricted Stock Units converted into 649 shares of Fortinet common stock at $0.00 per share, increasing his direct shareholdings under a previously granted RSU award.

How many Fortinet (FTNT) shares did James G. Stavridis acquire in this Form 4 filing?

He acquired 649 shares of Fortinet common stock through RSU settlement. These shares came from Restricted Stock Units vesting and converting into common stock, rather than being bought in the market. Following this transaction, his direct Fortinet holdings total 16,539 common shares.

Is the Fortinet (FTNT) Form 4 for James G. Stavridis a stock purchase or option exercise?

The filing reflects a derivative exercise related to Restricted Stock Units, not a cash stock purchase. Code “M” shows 649 RSUs vested and converted into 649 common shares at $0.00, consistent with equity compensation vesting instead of an open-market buy or sell transaction.

What are the vesting terms of James G. Stavridis’ Fortinet (FTNT) RSU grant?

The RSUs were granted on August 20, 2025 and vest in substantially equal increments on September 30, 2025, December 31, 2025, March 31, 2026 and the earlier of June 30, 2026 or the date before the 2026 annual stockholder meeting, subject to continued service.

How many Fortinet (FTNT) shares does James G. Stavridis hold after this RSU vesting?

After the March 31, 2026 RSU vesting and conversion, James G. Stavridis directly holds 16,539 shares of Fortinet common stock. This total includes the 649 newly delivered shares from the exercised Restricted Stock Units, as reported in the Form 4 filing.

Do the Fortinet (FTNT) RSUs held by James G. Stavridis expire if they do not vest?

According to the disclosure, Fortinet RSUs do not have an expiration date. They either vest in accordance with their schedule, subject to continued service, or are canceled prior to the applicable vesting date if vesting conditions are not satisfied.