Hu Jean X. 4

What Happened
Jean X. Hu, a director of Fortinet, had 649 restricted stock units (RSUs) vest on March 31, 2026. The filing shows a conversion/exercise of a derivative (code M) resulting in the acquisition of 649 common shares at $0.00 and a corresponding disposition of 649 derivative units (the RSUs). No cash was paid on exercise—the RSUs converted into shares upon vesting.

Key Details

• Transaction date: 2026-03-31. Transaction code: M (exercise/conversion of derivative). Price reported: $0.00 per share.
• Shares acquired on vesting: 649 common shares; derivative (RSU) units disposed: 649.
• These shares arise from RSUs granted August 20, 2025 that vest in substantially equal increments on 9/30/2025, 12/31/2025, 3/31/2026 and the earlier of 6/30/2026 or the day before the 2026 annual meeting (per footnotes).
• Footnotes note each RSU entitles the holder to one share on settlement and that RSUs do not expire (they vest or are cancelled).
• The filing does not state post-transaction total holdings in this report.

Context
This is a scheduled equity compensation vesting event (not an open-market purchase or sale). Code M reflects conversion of a derivative (RSU) into common stock. Such vestings are routine compensation for insiders and do not by themselves signal an intent to buy or sell stock in the market.