Napolitano Janet 4

4 · Fortinet, Inc. · Filed Apr 1, 2026

AI-generated summary of this filing

Updated Apr 1, 2026

Fortinet (FTNT) Director Janet Napolitano Receives 649 Shares via RSU Vesting

What Happened

Janet Napolitano, a director of Fortinet, had 649 restricted stock units (RSUs) convert into 649 shares of Fortinet common stock on March 31, 2026. The Form 4 records an "exercise/conversion of derivative" (transaction code M) showing 649 shares acquired at $0.00 and a corresponding 649-share derivative disposition at $0.00. This was not an open-market purchase or sale but the settlement/vesting of previously granted RSUs.

Key Details

Transaction date: 2026-03-31; Form 4 filed 2026-04-01 (timely).
Price per share reported on filing: $0.00 (reflecting conversion of awards, not a cash purchase).
Shares reported acquired: 649; derivative units reported disposed: 649.
Shares owned after transaction: Not specified in the filing.
Footnotes: F1–F4 explain these were RSUs granted 8/20/2025, each RSU converts to one share on settlement, vesting occurs in installments including 3/31/2026, and RSUs do not expire.
No 10b5-1 plan, tax withholding, or late filing flag noted in the filing.

Context

This is an award settlement (vesting) event — common compensation for directors and executives — rather than a market buy or sale, so it does not necessarily signal a change in insider market sentiment.
The filing shows both the conversion (acquisition of common shares) and the termination/disposition of the underlying RSU derivative units upon settlement.

Form 4

Period: 2026-03-31

Director

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-03-31+649→ 3,624 total
Exercise/Conversion
Restricted Stock Units
[F2][F1][F3][F4]
2026-03-31−649→ 650 total
Exercise: $0.00→ Common Stock (649 underlying)

Footnotes (4)

[F1]Vesting of restricted stock units ("RSUs") granted to the Reporting Person on August 20, 2025.
[F2]Each RSU represents a contingent right to receive one share of the Issuer's common stock upon settlement.
[F3]The RSUs will vest in substantially equal increments on each of September 30, 2025, December 31, 2025, March 31, 2026, and the earlier of (i) June 30, 2026 and (ii) the date immediately preceding the Issuer's 2026 annual meeting of stockholders, subject to the Reporting Person's provision of services to the Issuer on each vesting date. Shares of the Issuer's Common Stock will be delivered to the Reporting Person following vesting.
[F4]RSUs do not expire; they either vest or are canceled prior to vest date

Signature

/s/ Robert Turner, by power of attorney|2026-04-01

1 file