Fortinet CEO Ken Xie Plans To Sell 161,483 Shares Worth $22 Million
Xie's planned sale follows an August sale of 161,482 shares that brought in $26.3 million, and Fortinet closed Monday at $126.21.
Fortinet President and CEO Ken Xie plans to sell 161,483 shares of the company's common stock, a proposed sale with an aggregate market value of $22.0 million, according to a Form 144 filed Monday. The form, a notice of a planned sale, lists an approximate sale date of November 2.
Same size as the August sale
The shares come from options exercised for cash and from restricted stock units. Morgan Stanley Smith Barney LLC Executive Financial Services is the named broker.
The form's three-month table lists one earlier sale: 161,482 shares on August 3, for $26,266,879 in gross proceeds. It ran through the account labeled 10b5-1 Sales for KEN XIE, one share fewer than the newly proposed amount.
The company and the stock
Fortinet makes cybersecurity products that combine networking and security, sold as a platform called the Fortinet Security Fabric. Its lines include FortiGate firewall appliances and switches, cloud-delivered security and AI-driven security operations, plus subscriptions and support.
For the year ended December 31, 2025, it reported total revenue of $6.80 billion. The stock closed at $126.21 in Monday trading.
A Form 4, the report insiders file after trading, would show the number of shares Xie actually sold and the price he received.
Sources
- Form 144 — Ken Xie (FTNT) — SEC EDGAR
