Fortinet, Inc. Director and Officer Ken Xie filed a Form 144 notice of proposed sale on November 2, 2026, covering 161,483 shares of Fortinet common stock with an aggregate market value of $21,974,606.64, to be sold on NASDAQ through Morgan Stanley Smith Barney LLC Executive Financial Services.

Key Highlights

  • Proposed sale size: Ken Xie intends to sell 161,483 shares of Fortinet common stock with an aggregate market value of $21,974,606.64.
  • Source of shares: 155,000 shares were acquired through the exercise of stock options on November 2, 2026, and 6,483 shares came from restricted stock units vested on November 1, 2026, both acquired from the issuer.
  • Planned sale date: The approximate date of sale is listed as November 2, 2026, on NASDAQ.
  • 10b5-1 plan: The filing indicates reliance on a Rule 10b5-1 plan adopted on March 3, 2026.
  • Prior sales: Xie sold 161,482 shares of common stock on August 3, 2026, with gross proceeds of $26,266,878.87, listed under 10b5-1 sales for the past three months.
  • Shares outstanding: The filing states 734,709,741 shares of Fortinet common stock were outstanding at the time of the notice.
  • Relationship to issuer: Ken Xie is identified in the filing as both a Director and an Officer of Fortinet, Inc.

Fortinet's Ken Xie Proposes $21.97 Million Common Stock Sale Under Pre-Established Trading Plan

According to the Form 144 filing submitted to the U.S. Securities and Exchange Commission on November 2, 2026, Ken Xie, identified as both a Director and Officer of Fortinet, Inc. (NASDAQ:FTNT), proposed to sell 161,483 shares of the company's common stock. The filing lists an aggregate market value of $21,974,606.64 for the proposed sale, to be executed through Morgan Stanley Smith Barney LLC Executive Financial Services at 1 New York Plaza, 8th Floor, New York, NY 10004.

The filing discloses two sources for the shares subject to the proposed sale. First, 155,000 shares were acquired on November 2, 2026, through the exercise of stock options, with payment made in cash. Second, 6,483 shares were acquired on November 1, 2026, through restricted stock units, both from the issuer. The proposed sale is to occur on NASDAQ, and the filing notes a Rule 10b5-1 plan adoption date of March 3, 2026, indicating the sale is being conducted under a pre-established written trading plan.

The filing also discloses prior sales under the heading "10b5-1 Sales for Ken Xie" during the past three months. According to the filing, Xie sold 161,482 shares of common stock on August 3, 2026, generating gross proceeds of $26,266,878.87. Fortinet, Inc. is headquartered at 909 Kifer Road, Sunnyvale, California 94086, and carries SEC File Number 001-34511. The filing was signed by Ken Xie and dated November 2, 2026.

What Was Disclosed

Fortinet Director and Officer Ken Xie filed a Form 144 on November 2, 2026, disclosing a proposed sale of 161,483 common shares valued at $21,974,606.64, acquired through stock option exercise and restricted stock unit vesting, under a 10b5-1 plan adopted March 3, 2026.