Xie Ken 4
4 · Fortinet, Inc. · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Fortinet CEO Ken Xie Receives 31,320 RSU Award
What Happened Ken Xie, President & CEO and a director of Fortinet (FTNT), received a grant of 31,320 restricted stock units (RSUs) reported on Form 4 for a transaction dated 2026-02-20. The filing reports an acquisition at $0.00 because this is a derivative award (RSUs), not a cash purchase. RSUs represent a contingent right to receive one share of Fortinet common stock upon settlement and vesting.
Key Details
- Transaction date: 2026-02-20; Form 4 filed 2026-02-23 (timely under SEC Form 4 rules).
- Amount: 31,320 RSUs; reported acquisition price: $0.00; reported monetary value: $0 (derivative award).
- Vesting: 25% vest on Feb 1, 2027; remaining 75% vest in equal installments each quarterly anniversary thereafter, subject to continued service (footnotes F1–F3).
- RSU terms: Each RSU converts to one share upon settlement; RSUs do not expire— they vest or are canceled prior to vesting.
- Shares owned after transaction: not specified in this filing.
Context RSU grants are a common form of executive compensation and do not represent an immediate market purchase or sale. They provide future equity if vesting conditions are met and are not by themselves a direct bullish or bearish trading signal. Because these are derivative awards settled in shares upon vesting, no immediate cash changed hands at grant.
Insider Transaction Report
- Award
Restricted Stock Units
[F1][F2][F3]2026-02-20+31,320→ 31,320 totalExercise: $0.00→ Common Stock (31,320 underlying)
Footnotes (3)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
- [F2]25% of the RSUs will vest on February 1, 2027, and the remaining 75% of the RSUs will vest in equal installments on each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon settlement.
- [F3]RSUs do not expire; they either vest or are canceled prior to the vesting date.