Fortinet Director Janet Napolitano Receives 459 Vested RSUs

What Happened
Janet Napolitano, a director of Fortinet (FTNT), had 459 restricted stock units (RSUs) vest on September 30, 2026. The Form 4 reports a conversion/exercise of a derivative (code M) that resulted in acquisition of 459 shares at $0.00; a matching derivative disposal line reflects cancellation/conversion of the RSU instrument. No cash was paid for the shares.

Key Details

• Transaction date: 2026-09-30 (reported on Form 4 filed 2026-10-01).
• Reported entries: Acquired 459 shares @ $0.00 (conversion of derivative); Derivative disposed 459 shares @ $0.00.
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes: RSUs were granted Aug 12, 2026 (F1). Each RSU is a contingent right to one share (F2). Vesting schedule: equal increments on 9/30/2026, 12/31/2026, 3/31/2027 and the earlier of 6/30/2027 or the day before the 2027 annual meeting, subject to continued service (F3). RSUs do not expire; they vest or are canceled (F4).
• Filing timeliness: Transaction dated 9/30/2026 and Form 4 filed 10/01/2026 — appears to be filed promptly (not marked late).

Context
This was a vesting/settlement of RSUs (conversion of a derivative right into common shares), not an open-market purchase or sale. There was no sale of the newly issued shares reported here, and no cash outlay for exercise—common for RSU settlements. Vesting of equity awards is routine compensation for directors and does not by itself indicate buying or selling sentiment.