Fortinet CTO gifts 5,250 shares of common stock
Fortinet, Inc. director and CTO Michael Xie reported bona fide gifts of 5,250 shares of common stock on June 4, 2026, all at a price of $0.00 per share.
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Form Type
4
Rhea-AI Filing Summary
Fortinet, Inc. director and CTO Michael Xie reported bona fide gifts of 5,250 shares of common stock on June 4, 2026, all at a price of $0.00 per share. These are coded as "G" transactions, indicating non-market gifts rather than open-market sales.
Following the gifts, Xie holds 9,918,360 Fortinet shares directly and 9,918,860 shares indirectly through his spouse. Additional indirect holdings are reported through several family and grantor retained annuity trusts, with individual trust positions including 4,646,144, 5,513,505, and 25,680,202 shares as of the same date.
Insider Trade Summary
5,250 shares gifted
Gift
8 txns
Insider
Xie Michael
Role
VP, ENGINEERING & CTO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 2,500 | $0.00 | $0.00 |
| Gift | Common Stock | 2,250 | $0.00 | $0.00 |
| Gift | Common Stock | 500 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 9,918,860 shares (Indirect, By Spouse);
Common Stock — 9,918,360 shares (Direct);
Common Stock — 45,999,500 shares (Indirect, By trust)
Footnotes (5)
- F1. These securities are held by the 2010 K.A. Family Trust dated May 3, 2010, for which the Reporting Person serves as a trustee.
- F2. 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.
- F3. 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.
- F4. These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person.
- F5. These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse.
Key Figures
Gifted shares: 5,250 shares
Gift transaction 1: 500 shares at $0.00
Gift transaction 2: 2,250 shares at $0.00
+5 more
8 metrics
Gifted shares
5,250 shares
Total bona fide gifts of common stock on June 4, 2026
Gift transaction 1
500 shares at $0.00
Bona fide gift, direct ownership, June 4, 2026
Gift transaction 2
2,250 shares at $0.00
Bona fide gift, indirect via spouse, June 4, 2026
Gift transaction 3
2,500 shares at $0.00
Bona fide gift, direct ownership, June 4, 2026
Direct holdings after gifts
9,918,360 shares
Total Fortinet common stock held directly after June 4, 2026 gifts
Spouse indirect holdings
9,918,860 shares
Fortinet shares held indirectly by spouse after June 4, 2026 gifts
Trust holdings example 1
4,646,144 shares
Indirect holdings by 2010 K.A. Family Trust as of June 4, 2026
Trust holdings example 2
25,680,202 shares
Indirect holdings by grantor retained annuity trust as of June 4, 2026
Key Terms
bona fide gift, grantor retained annuity trust, Children's Trust, indirect ownership
4 terms
bona fide gift financial
"transaction_code_description": "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
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.
Children's Trust financial
"under The K.A. Children's Trust dated February 9, 2011, for which the Reporting Person serves as a trustee."
indirect ownership financial
""ownership_type": "indirect", "ownership_code": "I""
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 bona fide gifts of Fortinet common stock. The filing shows three "G" code transactions totaling 5,250 shares, indicating non-market gifts rather than open-market purchases or sales, with updated direct and indirect share holdings disclosed.
What indirect Fortinet (FTNT) holdings are reported for Michael Xie and his spouse?
Indirectly, 9,918,860 Fortinet shares are reported as held by Xie’s spouse. Additional indirect positions are held through multiple family and grantor retained annuity trusts, including blocks of 4,646,144, 5,513,505, and 25,680,202 shares, as disclosed in the filing and its footnotes.
Do the Fortinet (FTNT) Form 4 transactions involve open-market buying or selling?
No, the Form 4 transactions are coded "G" for bona fide gifts. The filing shows gifts totaling 5,250 shares at a price of $0.00 per share, meaning they are non-market transfers rather than open-market purchases or sales of Fortinet stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
