Xie Michael 4
4 · Fortinet, Inc. · Filed Jun 3, 2026
Research Summary
AI-generated summary of this filing
Fortinet (FTNT) CTO Michael Xie Sells 3,907 Shares for $572K
What Happened
- Michael Xie, VP, Engineering & CTO and a Company director, sold a total of 3,907 Fortinet (FTNT) shares in open‑market transactions on June 3, 2026, receiving aggregate proceeds of $572,145.
- The sales were executed in five lots: 464 shares at $144.46 ($67,029); 410 shares at $145.72 ($59,745); 2,337 shares at $146.55 ($342,488); 564 shares at $147.71 ($83,307); and 132 shares at $148.30 ($19,576). These were disposals (sales), not purchases.
Key Details
- Transaction date: June 3, 2026 (reported same day).
- Prices ranged roughly from about $144.03 to $148.31 across the executed trades; weighted average line items are noted in the filing.
- Total shares sold: 3,907; total proceeds: $572,145.
- These trades were effected pursuant to a Rule 10b5‑1 trading plan adopted by Mr. Xie on March 4, 2026 (footnote F1).
- Several footnotes indicate holdings in family/annuity trusts for the reporting person and spouse (F7–F11).
- Shares owned after the transactions are not specified in the material you provided.
- Filing date and report date are both June 3, 2026; no late filing was indicated in the provided data.
Context
- These were open‑market sales under a prearranged 10b5‑1 plan, which is a common mechanism executives use to sell shares according to a set schedule; such sales are often routine and do not necessarily reflect a change in personal view on the company.
- For retail investors, purchases typically carry more informational weight than routine sales. This filing documents disposition of shares rather than acquisition or option exercises.
Insider Transaction Report
Form 4
Fortinet, Inc.FTNT
Xie Michael
DirectorVP, ENGINEERING & CTO
Transactions
- Sale
Common Stock
[F1][F2]2026-06-03$144.46/sh−464$67,029→ 9,927,053 total - Sale
Common Stock
[F1][F3]2026-06-03$145.72/sh−410$59,745→ 9,926,643 total - Sale
Common Stock
[F1][F4]2026-06-03$146.55/sh−2,337$342,488→ 9,924,306 total - Sale
Common Stock
[F1][F5]2026-06-03$147.71/sh−564$83,307→ 9,923,742 total - Sale
Common Stock
[F1][F6]2026-06-03$148.30/sh−132$19,576→ 9,923,610 total
Holdings
- 25,680,202(indirect: By Trust)
Common Stock
[F7] - 5,513,505(indirect: See footnote)
Common Stock
[F8] - 5,513,505(indirect: See footnote)
Common Stock
[F9] - 4,646,144(indirect: By Trust)
Common Stock
[F10] - 4,646,144(indirect: By Trust)
Common Stock
[F11]
Footnotes (11)
- [F1]The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 4, 2026.
- [F10]These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person.
- [F11]These securities are held by a grantor retained annuity trust for the benefit of the Reporting Person's spouse.
- [F2]Represents the weighted average sale price. The lowest price at which shares were sold was $144.03 and the highest price at which shares were sold was $144.64. 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 (2) through (6) to this Form 4.
- [F3]Represents the weighted average sale price. The lowest price at which shares were sold was $145.10 and the highest price at which shares were sold was $146.07.
- [F4]Represents the weighted average sale price. The lowest price at which shares were sold was $146.14 and the highest price at which shares were sold was $147.03.
- [F5]Represents the weighted average sale price. The lowest price at which shares were sold was $147.23 and the highest price at which shares were sold was $147.99.
- [F6]Represents the weighted average sale price. The lowest price at which shares were sold was $148.28 and the highest price at which shares were sold was $148.31.
- [F7]These securities are held by the 2010 K.A. Family Trust dated May 3, 2010, for which the Reporting Person serves as a trustee.
- [F8]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.
- [F9]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.
Signature
/s/ Robert Turner, by power of attorney|2026-06-03