Napolitano Janet 4

What Happened Janet Napolitano, a director of Fortinet (FTNT), had 650 restricted stock units (RSUs vest) recorded as an exercise/conversion of a derivative into 650 shares on 2026-06-11 at a recorded price of $0.00. The filing also shows a matching derivative disposition of 650 shares at $0.00 the same day. The entries reflect RSU settlement rather than an open-market purchase or sale; total cash value recorded in the Form 4 is $0.

Key Details

• Transaction date: 2026-06-11; reported on Form 4 filed 2026-06-12 (timely).
• Prices: $0.00 per share for both the acquisition (conversion) and the derivative disposition.
• Shares involved: 650 shares acquired via conversion of RSUs; 650 shares listed as a derivative disposition.
• Shares owned after transaction: not specified in the information provided in this summary (not disclosed here).
• Footnotes: F1–F4 explain these were RSUs granted 8/20/2025; each RSU equals one share; vesting occurs in substantially equal increments on 9/30/2025, 12/31/2025, 3/31/2026 and the earlier of 6/30/2026 or the day before the 2026 annual meeting; RSUs do not expire.
• No 10b5-1 plan, tax withholding, or immediate open-market sale is explicitly reported in the provided filing.

Context This is a routine RSU vesting/settlement event (an award being converted to shares), not an outright market purchase or sale that signals trading intent. The filing shows both the conversion (acquisition) and a corresponding derivative disposition entry; the included footnotes identify the underlying compensation award and vesting schedule. Retail investors should view this as a compensation-related issuance of shares rather than a directional insider buy or sell.