Fortinet (FTNT) CFO exercises 4,903 units, sells 596 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Fortinet, Inc.’s Chief Financial Officer Christiane Ohlgart reported a combination of equity vesting, tax withholding, and a small planned share sale. On May 1, 2026, she exercised derivative awards, converting 4,903 shares worth of performance and restricted stock units into common stock as part of previously granted PSUs and RSUs vesting.
On the same date, 1,742 shares of common stock were relinquished and cancelled to cover federal and state tax withholding obligations in an exempt transaction under Section 16b-3(e). On May 5, 2026, she executed an open‑market sale of 596 shares of common stock at $89.70 per share pursuant to a Rule 10b5‑1 trading plan adopted on March 7, 2025, and held 10,812 shares of Fortinet common stock directly after the sale.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 596 shares ($53,461)
Net Sell
10 txns
Insider
Ohlgart Christiane
Role
Chief Financial Officer
Sold
596 shs ($53K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 596 | $89.70 | $53K |
| Exercise | Performance Stock Units | 2,366 | $0.00 | -- |
| Exercise | Restricted Stock Units | 685 | $0.00 | -- |
| Exercise | Restricted Stock Units | 650 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,202 | $0.00 | -- |
| Exercise | Common Stock | 2,366 | $0.00 | -- |
| Exercise | Common Stock | 685 | $0.00 | -- |
| Exercise | Common Stock | 650 | $0.00 | -- |
| Exercise | Common Stock | 1,202 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,742 | $86.29 | $150K |
Holdings After Transaction:
Common Stock — 10,812 shares (Direct, null);
Performance Stock Units — 0 shares (Direct, null);
Restricted Stock Units — 5,478 shares (Direct, null)
Footnotes (1)
- Vesting of performance stock units ("PSUs") previously granted to the Reporting Person. Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person. 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. The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 7, 2025. Each PSU represents a contingent right to receive one share of the Issuer's common stock. 100% of the PSUs vest and settle on May 1, 2026, subject to the Reporting Person's provision of service to the Issuer on such date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon settlement. RSUs and PSUs do not expire; they either vest or are canceled prior to the vesting date. Each RSU represents a contingent right to receive one share of the Issuer's common stock. 25% of the RSUs vested on May 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. 25% of the RSUs vested on May 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 settlement.
Key Figures
Open-market sale: 596 shares at $89.70
Post-transaction holdings: 10,812 shares
Derivative exercises: 4,903 shares
+3 more
6 metrics
Open-market sale
596 shares at $89.70
Common stock sale on May 5, 2026
Post-transaction holdings
10,812 shares
Direct common stock ownership after May 5, 2026 sale
Derivative exercises
4,903 shares
Total common shares from PSU and RSU exercises on May 1, 2026
Tax withholding shares
1,742 shares at $86.29
Shares cancelled to cover tax obligations on May 1, 2026
PSU conversion
2,366 units
Performance stock units converted into common stock on May 1, 2026
RSU conversions
1,202; 650; 685 units
Restricted stock units converted into common stock on May 1, 2026
Key Terms
Restricted Stock Units, Performance Stock Units, Rule 10b5-1 trading plan, Section 16b-3(e), +1 more
5 terms
Restricted Stock Units financial
"Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person."
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.
Performance Stock Units financial
"Vesting of performance stock units ("PSUs") previously granted to the Reporting Person."
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
Rule 10b5-1 trading plan regulatory
"The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 7, 2025."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Section 16b-3(e) regulatory
"Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities"
FAQ
What insider transactions did Fortinet (FTNT) CFO Christiane Ohlgart report?
Fortinet CFO Christiane Ohlgart reported equity vesting, tax withholding, and a small share sale. She exercised derivative awards into 4,903 common shares, had 1,742 shares withheld for taxes, and sold 596 shares in the open market under a pre‑arranged Rule 10b5‑1 trading plan.
What equity awards vested for Fortinet (FTNT) CFO Christiane Ohlgart?
The filing notes vesting of performance stock units and restricted stock units previously granted to Christiane Ohlgart. On May 1, 2026, derivative exercises converted a total of 4,903 units, including PSUs and RSUs, into Fortinet common stock as part of her compensation arrangements.