Fortinet (FTNT) director reports RSU vesting and updated share ownership

Rhea-AI Filing Summary

Fortinet, Inc. director reports routine equity award vesting and updated holdings. On 12/31/2025, 649 restricted stock units (RSUs) vested and were settled into 649 shares of Fortinet common stock at an exercise price of $0. These RSUs are part of a grant made on August 20, 2025, that vests in several scheduled increments through 2026, subject to continued service.

Following this transaction, the reporting person beneficially owns 22,170 Fortinet shares directly. In addition, they report indirect ownership of 20,750 shares through the Goldman-Valeriote Family Trust and 1,000 shares through GV Partners L.P. The filing also shows 1,299 RSUs remaining beneficially owned, each representing a right to receive one share of Fortinet common stock upon future vesting.

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

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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^*

GOLDMAN KENNETH A

(Last) (First) (Middle)

C/O FORTINET, INC.

909 KIFER ROAD

(Street)

SUNNYVALE CA 94086

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/31/2025		M(1)		649	A	$0	22,170	D
Common Stock								20,750	I	By Goldman-Valeriote Family Trust u/a/d 11/15/95(2)
Common Stock								1,000	I	By GV Partners L.P.(3)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0(4)	12/31/2025		M(1)			649	(5)	(6)	Common Stock	649	$0	1,299	D

Explanation of Responses:

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

2. The Reporting Person is a trustee of the Trust and may be deemed to have voting and dispositive power with regard to the shares held by the Trust. The Reporting Person disclaims beneficial ownership of the shares held by the Trust except to the extent of his pecuniary interest therein.

3. GV Partners L.P. is a family limited partnership of which the Reporting Person is the managing member.

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

5. 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.

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

	/s/ Robert Turner, by power of attorney	12/31/2025
	** 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.
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FAQ

What insider transaction is reported for Fortinet (FTNT) on December 31, 2025?

The filing reports the vesting and settlement of 649 restricted stock units into 649 shares of Fortinet common stock at an exercise price of $0 on 12/31/2025.

How many Fortinet (FTNT) shares does the reporting person own after this Form 4 transaction?

After the reported transaction, the reporting person owns 22,170 Fortinet common shares directly, plus 20,750 shares indirectly through a family trust and 1,000 shares indirectly through GV Partners L.P.

What are the key terms of the Fortinet (FTNT) restricted stock units in this filing?

Each RSU represents a contingent right to receive one share of Fortinet common stock upon settlement, with an exercise price of $0. RSUs vest over time and either vest or are canceled; they do not expire.

How do the Fortinet (FTNT) RSUs in this Form 4 vest over time?

The RSUs from the August 20, 2025 grant 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.

How many Fortinet (FTNT) RSUs remain beneficially owned after this transaction?

The table shows that 1,299 restricted stock units remain beneficially owned by the reporting person after the 649 RSUs vested and converted into common stock.

What indirect ownership interests in Fortinet (FTNT) stock does the insider report?

The insider reports indirect ownership of 20,750 Fortinet shares through the Goldman-Valeriote Family Trust u/a/d 11/15/95 and 1,000 shares through GV Partners L.P.