Xie Michael 4

What Happened

• Michael Xie, Fortinet's Vice President, Engineering & CTO and a director, received an award of 18,792 restricted stock units (RSUs) on February 20, 2026. The RSUs were granted at $0.00 (reporting as a derivative award — Form 4 code "A"), meaning he did not pay cash for the grant; settlement will be in shares upon vesting.

Key Details

• Transaction date: 2026-02-20; Form 4 filed 2026-02-23 (filed within the standard two-business-day window).
• Grant: 18,792 RSUs, acquisition price reported as $0.00 (award/derivative).
• Shares owned after transaction: not specified in the information provided in this summary (not uncommon for RSU grant disclosures).
• Footnotes from the filing:
  • Each RSU converts to one share upon settlement (F1).
  • Vesting: 25% vests Feb 1, 2027; remaining 75% vests in equal installments each quarterly anniversary thereafter, subject to continued service (F2).
  • RSUs do not expire; they vest or are canceled prior to vesting (F3).
• Transaction code: A = Award/Grant; derivative instrument (RSU) rather than an immediate share purchase.

Context

• RSU grants are typically part of compensation and tied to service/retention and performance; they are not an immediate purchase signal. Shares are only delivered when RSUs vest and settle. For retail investors, grants show management compensation alignment with shareholders but do not directly change outstanding shares until settlement.