Sim Judith 4

What Happened

• Judith Sim, a director of Fortinet, had 649 restricted stock units (RSUs) convert to company stock on March 31, 2026. The Form 4 shows an "exercise/conversion of derivative (M)" for 649 shares acquired at $0.00 and a corresponding derivative disposition entry; no cash was paid and no open‑market sale of shares was reported.

Key Details

• Transaction date: March 31, 2026
• Transaction code: M (exercise or conversion of a derivative)
• Shares involved: 649 RSUs converted to 649 shares
• Price: $0.00 per share (RSU settlement, not a cash purchase)
• Shares owned after transaction: Not specified in the filing
• Footnotes: RSUs were granted August 20, 2025 and vest in substantially equal increments (Sept 30, 2025; Dec 31, 2025; Mar 31, 2026; and the earlier of June 30, 2026 or the day before the 2026 annual meeting). Each RSU equals the right to one share; RSUs do not expire.
• Filing timeliness: Form filed Apr 1, 2026 — appears timely (Form 4 is typically due within 2 business days)

Context

• These entries reflect RSU vesting and conversion into common stock (the "M" derivative conversion), not a sale or open‑market purchase. Conversions of RSUs are routine compensation events for executives and directors and do not by themselves indicate buying or selling sentiment.