Hsieh Ming 4

What Happened
Ming Hsieh, a director of Fortinet, reported the vesting and conversion of 649 restricted stock units (RSUs) on 2026-03-31. The Form 4 shows an exercise/conversion entry acquiring 649 shares at $0.00 and a matching disposition of 649 shares at $0.00 (both reported with transaction code M). No cash value is listed for either entry.

Key Details

• Transaction date: 2026-03-31; Form 4 filed 2026-04-01 (timely filing).
• Reported transactions: 649 shares acquired via conversion of RSUs @ $0.00; 649 shares disposed (derivative) @ $0.00.
• Shares owned after transaction: not provided in the excerpt supplied.
• Relevant footnotes: RSUs were granted Aug 20, 2025 (F1); each RSU converts to one share on settlement (F5); the RSUs vest in equal increments including Mar 31, 2026 (F6); RSUs do not expire (F7). Several holdings are held in trusts for which Mr. Hsieh is trustee (F2–F4).
• The filing does not state the reason for the $0.00 disposition (e.g., tax withholding or transfer).

Context
This was not a purchase or open‑market sale by the insider but the routine settlement of RSUs. For derivative entries like this (code M), the reporting typically reflects conversion of awards into common stock; matching $0 dispositions often, but not always, represent share withholding to satisfy taxes or immediate transfers — however, the filing here does not specify which occurred.