Fortinet (FTNT) Director Derek Kan Receives 459 Shares via RSU Vesting

What Happened

• Derek T. Kan, a Director of Fortinet, had 459 restricted stock units (RSUs) vest on September 30, 2026. The Form 4 reports an exercise/conversion of a derivative (code M) resulting in 459 shares acquired at $0.00 and a corresponding derivative disposition of 459 units at $0.00 — reflecting settlement of vested RSUs into common stock. This was a compensation award (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-09-30; Form 4 filed: 2026-10-01. No late-filing flag indicated in the filing.
• Reported amounts: 459 shares acquired at $0.00; 459 derivative units disposed at $0.00 (conversion/settlement).
• Shares owned after transaction: not specified in the information provided in this summary (see filing for total beneficial ownership).
• Footnotes: F1–F4 state these shares are from RSUs granted 8/12/2026; each RSU converts to one share on settlement. 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. RSUs do not expire; shares are delivered after vesting.

Context

• Code M indicates exercise or conversion of a derivative instrument — here it represents RSUs converting into common stock. The $0.00 price means the shares were issued as part of compensation, not purchased.
• RSU vesting and settlement are routine forms of executive/director compensation and do not, by themselves, signal a buy or sell intent in the market. For complete details or total holdings, consult the full Form 4 (Accession 0001899894-26-000006).