Fortinet CEO Ken Xie sells 161,483 shares

The sales were reported under a Rule 10b5-1 plan adopted March 3, 2026, alongside separate option-exercise, RSU-vesting and tax-withholding entries.

Available on EDGAR 11/03/2026 - 04:40 PM EST Accepted by SEC EDGAR 11/03/2026 - 04:40 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Fortinet, Inc. President & CEO Ken Xie exercised 155,000 stock options on November 2, 2026, at a $22.8960 exercise price, with 151,470 options reported afterward. He sold 161,483 shares that day under a Rule 10b5-1 trading plan adopted March 3, 2026; reported sale blocks included 32,988 shares at a weighted-average $126.1720 and 2,700 shares at $133.8349 per share. On November 1, 6,260, 4,558 and 2,276 restricted stock units vested; 6,611 shares were relinquished and cancelled for federal and state tax withholding from RSU vesting.

Insider Trade Summary 10b5-1

Exercise and sale activity reported; no spread calculated

Exercise and Sale 17 txns

Insider Xie Ken

Role President & CEO

Sold 161,483 shs ($20.88M)

Approx. gross sale proceeds $20.88M

Approx. exercise cost $3.55M

Type	Security	Shares	Price	Value
Exercise	Stock Option Exercise F17	155,000	$0.00	$0.00
Exercise	Common Stock	155,000	$22.896	$3.55M
Sale	Common Stock F3, F4	32,988	$126.172	$4.16M
Sale	Common Stock F3, F5	11,916	$127.4092	$1.52M
Sale	Common Stock F3, F6	13,083	$128.2742	$1.68M
Sale	Common Stock F3, F7	13,800	$129.5059	$1.79M
Sale	Common Stock F3, F8	60,167	$130.4369	$7.85M
Sale	Common Stock F3, F9	20,329	$131.1202	$2.67M
Sale	Common Stock F3, F10	6,500	$132.312	$860K
Sale	Common Stock F3, F11	2,700	$133.8349	$361K
Exercise	Restricted Stock Units F12, F1, F13, F14	6,260	$0.00	$0.00
Exercise	Restricted Stock Units F12, F1, F15, F14	4,558	$0.00	$0.00
Exercise	Restricted Stock Units F12, F1, F16, F14	2,276	$0.00	$0.00
Exercise	Common Stock F1	6,260	$0.00	$0.00
Exercise	Common Stock F1	4,558	$0.00	$0.00
Exercise	Common Stock F1	2,276	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock F2	6,611	$136.08	$900K
Holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 49,526 contracts (Direct); Stock Option Exercise — 151,470 contracts (Direct); Common Stock — 52,972,372 shares (Direct); Common Stock — 4,848,774 shares (Indirect, By Spouse)

Footnotes (17)

1. F1. Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.
2. F2. 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.
3. F3. The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 3, 2026.
4. F4. Represents the weighted average sale price. The lowest price at which shares were sold was $125.87 and the highest price at which shares were sold was $126.86. 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 (4) through (11) to this Form 4.
5. F5. Represents the weighted average sale price. The lowest price at which shares were sold was $126.87 and the highest price at which shares were sold was $127.83.
6. F6. Represents the weighted average sale price. The lowest price at which shares were sold was $127.88 and the highest price at which shares were sold was $128.84.
7. F7. Represents the weighted average sale price. The lowest price at which shares were sold was $128.88 and the highest price at which shares were sold was $129.87.
8. F8. Represents the weighted average sale price. The lowest price at which shares were sold was $129.89 and the highest price at which shares were sold was $130.88.
9. F9. Represents the weighted average sale price. The lowest price at which shares were sold was $130.89 and the highest price at which shares were sold was $131.88.
10. F10. Represents the weighted average sale price. The lowest price at which shares were sold was $131.97 and the highest price at which shares were sold was $132.86.
11. F11. Represents the weighted average sale price. The lowest price at which shares were sold was $133.28 and the highest price at which shares were sold was $133.95.
12. F12. Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
13. F13. 25% of the RSUs vested on February 1, 2024, 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.
14. F14. RSUs do not expire; they either vest or are canceled prior to the vesting date.
15. F15. 25% of the RSUs vested on February 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.
16. F16. 25% of the RSUs vested on February 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 vesting.
17. F17. The options are fully vested.

Key Figures

Shares sold: 161,483 shares Stock options exercised: 155,000 options Exercise price: $22.8960 per share +3 more

6 metrics

Shares sold 161,483 shares Sales reported for November 2, 2026

Stock options exercised 155,000 options November 2, 2026

Exercise price $22.8960 per share Stock option exercise on November 2, 2026

Options after exercise 151,470 options Reported post-transaction position on November 2, 2026

Restricted stock units vested 6,260 RSUs Reported vesting on November 1, 2026

Shares relinquished for tax withholding 6,611 shares November 1, 2026

Key Terms

Rule 10b5-1 trading plan, restricted stock units, weighted average sale price, Section 16b-3(e)

4 terms

Rule 10b5-1 trading plan regulatory

"Rule 10b5-1 trading plan adopted by the Reporting Person on March 3, 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.

restricted stock units financial

"Vesting of restricted stock units 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.

weighted average sale price financial

"Represents the weighted average sale price"

Section 16b-3(e) regulatory

"Exempt transaction pursuant to Section 16b-3(e)"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many FTNT shares did Ken Xie sell, and at what prices?

Ken Xie sold 161,483 shares on November 2, 2026, under a Rule 10b5-1 plan adopted March 3, 2026. The eight reported weighted-average prices were $126.1720, $127.4092, $128.2742, $129.5059, $130.4369, $131.1202, $132.3120 and $133.8349 per share.

How many stock options did FTNT’s CEO exercise?

Ken Xie exercised 155,000 stock options at an exercise price of $22.8960 per share on November 2, 2026. The reported post-transaction position was 151,470 options.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

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^*

Xie Ken

(Last) (First) (Middle)

C/O FORTINET, INC.

909 KIFER ROAD

(Street)

SUNNYVALE CALIFORNIA 94086

(City) (State) (Zip)

UNITED STATES

(Country)

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
X	Officer (give title below)		Other (specify below)
	President & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/01/2026

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

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

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

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	11/01/2026		M(1)		6,260	A	$0	52,978,632	D
Common Stock	11/01/2026		M(1)		4,558	A	$0	52,983,190	D
Common Stock	11/01/2026		M(1)		2,276	A	$0	52,985,466	D
Common Stock	11/01/2026		F(2)		6,611	D	$136.08	52,978,855	D
Common Stock	11/02/2026		M		155,000	A	$22.896	53,133,855	D
Common Stock	11/02/2026		S(3)		32,988	D	$126.172(4)	53,100,867	D
Common Stock	11/02/2026		S(3)		11,916	D	$127.4092(5)	53,088,951	D
Common Stock	11/02/2026		S(3)		13,083	D	$128.2742(6)	53,075,868	D
Common Stock	11/02/2026		S(3)		13,800	D	$129.5059(7)	53,062,068	D
Common Stock	11/02/2026		S(3)		60,167	D	$130.4369(8)	53,001,901	D
Common Stock	11/02/2026		S(3)		20,329	D	$131.1202(9)	52,981,572	D
Common Stock	11/02/2026		S(3)		6,500	D	$132.312(10)	52,975,072	D
Common Stock	11/02/2026		S(3)		2,700	D	$133.8349(11)	52,972,372	D
Common Stock								4,848,774	I	By Spouse

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(12)	11/01/2026		M(1)			6,260	(13)	(14)	Common Stock	6,260	$0	6,260	D
Restricted Stock Units	$0(12)	11/01/2026		M(1)			4,558	(15)	(14)	Common Stock	4,558	$0	22,788	D
Restricted Stock Units	$0(12)	11/01/2026		M(1)			2,276	(16)	(14)	Common Stock	2,276	$0	20,478	D
Stock Option Exercise	$22.896	11/02/2026		M			155,000	(17)	02/21/2027	Common Stock	155,000	$0	151,470	D

Explanation of Responses:

1. Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.

2. 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.

3. The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 3, 2026.

4. Represents the weighted average sale price. The lowest price at which shares were sold was $125.87 and the highest price at which shares were sold was $126.86. 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 (4) through (11) to this Form 4.

5. Represents the weighted average sale price. The lowest price at which shares were sold was $126.87 and the highest price at which shares were sold was $127.83.

6. Represents the weighted average sale price. The lowest price at which shares were sold was $127.88 and the highest price at which shares were sold was $128.84.

7. Represents the weighted average sale price. The lowest price at which shares were sold was $128.88 and the highest price at which shares were sold was $129.87.

8. Represents the weighted average sale price. The lowest price at which shares were sold was $129.89 and the highest price at which shares were sold was $130.88.

9. Represents the weighted average sale price. The lowest price at which shares were sold was $130.89 and the highest price at which shares were sold was $131.88.

10. Represents the weighted average sale price. The lowest price at which shares were sold was $131.97 and the highest price at which shares were sold was $132.86.

11. Represents the weighted average sale price. The lowest price at which shares were sold was $133.28 and the highest price at which shares were sold was $133.95.

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

13. 25% of the RSUs vested on February 1, 2024, 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.

14. RSUs do not expire; they either vest or are canceled prior to the vesting date.

15. 25% of the RSUs vested on February 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.

16. 25% of the RSUs vested on February 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 vesting.

17. The options are fully vested.

	/s/ Robert Turner, by power of attorney	11/03/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)