Fortinet CTO Michael Xie sells 3,907 shares
Fortinet, Inc. director and VP, Engineering & CTO Michael Xie reported open-market sales of 3,907 shares of common stock on June 3, 2026.
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Form Type
4
Rhea-AI Filing Summary
Fortinet, Inc. director and VP, Engineering & CTO Michael Xie reported open-market sales of 3,907 shares of common stock on June 3, 2026. The trades were executed at weighted average prices within ranges from $144.03 to $148.31 per share and were carried out under a Rule 10b5-1 trading plan adopted on March 4, 2026. Following these sales, Xie directly holds 9,923,610 shares of Fortinet common stock and also has substantial indirect holdings through several trusts, including 4,646,144 shares held by the 2010 K.A. Family Trust, 5,513,505 shares held by children’s trusts, and 25,680,202 shares in a grantor retained annuity trust for his benefit.
Insider Trade Summary 10b5-1
Net Seller: 3,907 shares
Net Sell
10 txns
Insider
Xie Michael
Role
VP, ENGINEERING & CTO
Sold
3,907 shs ($572K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 464 | $144.458 | $67K |
| Sale | Common Stock | 410 | $145.7184 | $60K |
| Sale | Common Stock | 2,337 | $146.5502 | $342K |
| Sale | Common Stock | 564 | $147.7076 | $83K |
| Sale | Common Stock | 132 | $148.3009 | $20K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 9,923,610 shares (Direct);
Common Stock — 34,972,490 shares (Indirect, By trust);
Common Stock — 11,027,010 shares (Indirect, See footnote)
Footnotes (11)
- F1. The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 4, 2026.
- F2. Represents the weighted average sale price. The lowest price at which shares were sold was $144.03 and the highest price at which shares were sold was $144.64. The Reporting Person undertakes to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or its stockholders, full information regarding the total number of shares sold at each separate price within the ranges set forth in footnotes (2) through (6) to this Form 4.
- F3. Represents the weighted average sale price. The lowest price at which shares were sold was $145.10 and the highest price at which shares were sold was $146.07.
- F4. Represents the weighted average sale price. The lowest price at which shares were sold was $146.14 and the highest price at which shares were sold was $147.03.
- F5. Represents the weighted average sale price. The lowest price at which shares were sold was $147.23 and the highest price at which shares were sold was $147.99.
- F6. Represents the weighted average sale price. The lowest price at which shares were sold was $148.28 and the highest price at which shares were sold was $148.31.
- F7. These securities are held by the 2010 K.A. Family Trust dated May 3, 2010, for which the Reporting Person serves as a trustee.
- F8. Shares held directly by the KAXX Trust under The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.
- F9. Shares held directly by the KAJJ Trust under The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee.
- F10. These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person.
- F11. These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse.
Key Figures
Shares sold: 3,907 shares
Sale price range: $144.03–$148.31 per share
Direct holdings after sale: 9,923,610 shares
+3 more
6 metrics
Shares sold
3,907 shares
Open-market sales of common stock on June 3, 2026
Sale price range
$144.03–$148.31 per share
Weighted average sale price ranges across reported trades
Direct holdings after sale
9,923,610 shares
Fortinet common stock directly owned following transactions
2010 K.A. Family Trust holdings
4,646,144 shares
Indirect ownership via 2010 K.A. Family Trust dated May 3, 2010
Children’s trusts holdings
5,513,505 shares
Indirect ownership via K.A. Children's Trust structures
Grantor retained annuity trust (Xie)
25,680,202 shares
Indirect holdings for benefit of the reporting person
Key Terms
Rule 10b5-1 trading plan, weighted average sale price, grantor retained annuity trust, Reporting Person, +1 more
5 terms
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 4, 2026."
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.
weighted average sale price financial
"Represents the weighted average sale price. The lowest price at which shares were sold was $144.03 and the highest price at which shares were sold was $144.64."
grantor retained annuity trust financial
"These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person."
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
Reporting Person regulatory
"The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 4, 2026."
open-market sale financial
"Sale in open market or private transaction"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Fortinet (FTNT) CTO Michael Xie report in this Form 4?
Michael Xie reported selling 3,907 shares of Fortinet common stock in open-market transactions. The sales occurred on June 3, 2026, and were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 4, 2026.
What indirect Fortinet (FTNT) holdings are reported for Michael Xie?
The Form 4 lists indirect holdings including 4,646,144 shares in the 2010 K.A. Family Trust, 5,513,505 shares in children’s trusts, and 25,680,202 shares in a grantor retained annuity trust. These entities hold shares for the benefit of Xie or his family members.
AI-generated analysis. How Rhea-AI works. Not financial advice.
