[Form 4] Fortinet, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Kenneth A. Goldman, a director of Fortinet, Inc. (FTNT), reported a grant of 2,597 restricted stock units (RSUs) on 08/20/2025. Each RSU represents a contingent right to receive one share of Fortinet common stock upon settlement and the RSUs are reported at a $0 purchase price. The RSUs 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 the issuer's 2026 annual meeting, subject to continued service. Shares will be delivered following each vesting date. The Form 4 was signed by power of attorney on 08/21/2025.

Positive

• 2,597 RSUs disclosed with clear vesting schedule and settlement mechanics
• RSUs reported at $0, indicating compensation-based grant rather than cash purchase
• Vesting dates clearly specified: Sept 30, 2025; Dec 31, 2025; Mar 31, 2026; and earlier of Jun 30, 2026 or day before 2026 annual meeting

Negative

• Potential future issuance of up to 2,597 shares upon settlement as described in the filing
• Vesting is contingent on continued service, so timing and final settlement depend on employment/director status

Insights

Financial Analyst

TL;DR: Director Kenneth Goldman was granted 2,597 RSUs vesting in four installments, convertible into common shares upon settlement.

The filing documents a standard equity award for a director: 2,597 RSUs with no cash price reported ($0), indicating these are compensation-based restricted stock units rather than purchased shares. Vesting occurs in substantially equal increments across four specified dates between September 2025 and mid-2026, conditional on continued service. This creates a defined future issuance schedule for up to 2,597 shares, with delivery occurring after each vesting event as stated.

Corporate Governance Expert

TL;DR: This Form 4 records a routine director equity grant with a clear vesting timetable and power-of-attorney signature.

The disclosure identifies the reporting person as a director and provides full vesting schedule details and the RSU mechanics: each unit converts to one share upon settlement and RSUs do not expire. The form is executed by a power of attorney, which is noted on the filing. There are no amendments or additional transactions reported on this Form 4 beyond the RSU award.

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
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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)
08/20/2025

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

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(1)	08/20/2025		A		2,597		(2)	(3)	Common Stock	2,597	$0	2,597	D

Explanation of Responses:

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

2. 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.

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

	/s/ Robert Turner, by power of attorney	08/21/2025
	** 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 transaction did Kenneth A. Goldman report on Form 4 for FTNT?

The Form 4 reports a grant of 2,597 restricted stock units (RSUs) dated 08/20/2025 that convert to one share each upon settlement.

When do the RSUs granted to Kenneth A. Goldman vest?

The RSUs 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 meeting, subject to continued service.

How many shares will be issued when the RSUs settle?

Each RSU represents a contingent right to one share, so settlement would result in the issuance of up to 2,597 shares in total, delivered following each vesting date.

Was there any cash paid for these RSUs?

No cash price was reported; the RSUs are shown with a $0 price on the Form 4.

Who signed the Form 4 and when was it filed?

The filing includes a signature by Robert Turner by power of attorney on 08/21/2025.