Ming Hsieh converts 650 RSUs into Fortinet (FTNT) shares, updates trust holdings
Rhea-AI Filing Summary
Fortinet director Ming Hsieh reported routine equity compensation activity involving restricted stock units. On June 11, 2026, 650 restricted stock units vested and were converted into 650 shares of Fortinet common stock at a stated price of $0.00 per share, increasing his directly held common stock to 9,597 shares. The RSUs were originally granted on August 20, 2025 and represent a contingent right to receive one share of common stock upon settlement. In addition to his direct holdings, Hsieh is trustee for several family trusts that collectively hold various indirect positions in Fortinet common stock, including 53,082 shares in the Ming Hsieh Revocable Family Trust and smaller amounts in other family trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 650 shares
Net Buy
6 txns
Insider
Hsieh Ming
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 650 | $0.00 | $0.00 |
| Exercise | Common Stock | 650 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 9,597 shares (Direct);
Common Stock — 53,275 shares (Indirect, By Trust)
Footnotes (8)
- F1. Vesting of restricted stock units ("RSUs") granted to the Reporting Person on August 20, 2025.
- F2. Securities held by The Ming Hsieh Trust (the "Hsieh Trust"). Mr. Hsieh is the trustee of the Hsieh Trust and possesses the sole voting and dispositive power with respect to securities held by the Hsieh Trust.
- F3. These securities are held by the Pauline Hsieh Irrevocable Trust dated 05/12/04, of which the Reporting Person is a trustee.
- F4. These securities are held by the Tiffany Hsieh Irrevocable Trust dated 05/12/04, of which the Reporting Person is a trustee.
- F5. These securities are held by the Ming Hsieh Revocable Family Trust, of which the Reporting Person is a trustee.
- F6. Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
- F7. 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.
- F8. RSUs do not expire; they either vest or are canceled prior to vest date
Key Figures
RSUs vested and converted: 650 shares
Direct common shares after transaction: 9,597 shares
Exercise/settlement price: $0.00 per share
+5 more
8 metrics
RSUs vested and converted
650 shares
Restricted stock units converted to common stock on June 11, 2026
Direct common shares after transaction
9,597 shares
Direct holdings of Ming Hsieh following RSU conversion
Exercise/settlement price
$0.00 per share
Stated price for RSU conversion into common stock
Indirect shares in Revocable Family Trust
53,082 shares
Common stock held by the Ming Hsieh Revocable Family Trust
Indirect trust holding A
143 shares
Common stock held by The Ming Hsieh Trust
Indirect trust holding B
25 shares
Common stock held by Pauline Hsieh Irrevocable Trust
Indirect trust holding C
25 shares
Common stock held by Tiffany Hsieh Irrevocable Trust
Derivative exercises this filing
650 shares
Exercise of derivative security per transaction summary
Key Terms
Restricted Stock Units, RSUs, contingent right, derivative security, +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.
RSUs financial
"Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement."
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
contingent right financial
"Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement."
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
vesting 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"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Fortinet (FTNT) director Ming Hsieh report?
Ming Hsieh reported the vesting and conversion of 650 restricted stock units into 650 shares of Fortinet common stock. This was an equity compensation event, not an open-market purchase or sale, and reflects routine settlement of previously granted RSUs.
What happened to Ming Hsieh’s Fortinet (FTNT) restricted stock units in this filing?
A block of 650 restricted stock units vested and converted into 650 shares of Fortinet common stock at a stated price of $0.00 per share. The RSUs were part of a grant dated August 20, 2025 with scheduled vesting dates through mid-2026.
What indirect Fortinet (FTNT) holdings does Ming Hsieh report through family trusts?
Ming Hsieh reports indirect ownership through several family trusts, including 53,082 Fortinet common shares held by the Ming Hsieh Revocable Family Trust and smaller positions such as 143, 25, and 25 shares held in other named family trusts where he serves as trustee.