> ## Content Index > Fetch the complete content index at: https://www.bullished.co/llms.txt > Use this file to discover other available public pages before exploring further. # Fortinet CEO Ken Xie Sells $20.9 Million Of Shares In Plan He Set In March - URL: https://www.bullished.co/fortinet-ceo-ken-xie-sells-20-9-million-of-shares-in-plan-he-set-in-march-49665241/ - Published: 2026-11-03T21:59:25.000Z - Updated: 2026-11-03T21:59:25.000Z - Description: Xie sold 161,483 shares at an average of $129.31 and still holds 57,821,146 shares as reported in the filing. - Author: Matteo Parrino - Tags: Insider Trades, FTNT, Industry: Technology Fortinet President and CEO Ken Xie sold [161,483 shares](https://www.sec.gov/Archives/edgar/data/0001475587/000147558726000016/xslF345X06/form4-11032026%5F091112.xml?ref=bullished.co) of the company's stock on the open market, a transaction valued at $20.9 million at an average price of $129.31, according to an SEC filing made Tuesday. The sales were made under a pre-scheduled trading plan he adopted on March 3, 2026. ## Sales made through a pre-set plan The filing, a [Form 4](https://www.bullished.co/learn/insider-selling-meaning/) (the report insiders file after trading), shows the stock was sold in eight blocks at weighted average prices from $126.17 to $133.83 per share. The largest block was 60,167 shares at $130.44. Xie set up the Rule 10b5-1 plan, which automates trades, on March 3, 2026. The filing shows no earlier Form 4 sale by Xie in the 90 days starting August 5. ## Options exercised, taxes withheld Xie also exercised options on 155,000 shares at $22.896 a share. The filing says those options are fully vested. Three restricted stock unit grants also vested, yielding 13,094 shares. The company withheld 6,611 shares to cover federal and state taxes on that vesting, at $136.08 a share, and those shares were cancelled. ## A 57.8 million-share stake After the transactions, Xie holds 57,821,146 shares as reported: 52,972,372 directly and 4,848,774 indirectly through his spouse. The sale amounted to 0.28% of that reported stake, and the holding is worth an estimated $7.41 billion at Tuesday's close. [Fortinet](https://www.bullished.co/tag/ftnt/) makes cybersecurity products that combine networking and security, sold as the Fortinet Security Fabric platform. Its lines include FortiGate firewalls and switches, cloud-delivered security access and AI-driven security operations. It reported total revenue of $6.80 billion for 2025. As of Monday's close, the stock's 52-week range ran from $73.55 to $197.13. The remaining restricted stock units vest in quarterly installments, subject to Xie's continued service to Fortinet. Learn - [Code S: an open-market or private sale →](https://www.bullished.co/learn/form-4-transaction-codes-explained/#code-s-an-open-market-or-private-sale) From Form 4 Transaction Codes Explained: What P, S, M, F, G, J, D And A Mean - [How To Read A Form 4 SEC Filing, Box By Box →](https://www.bullished.co/learn/how-to-read-form-4-sec-filing/) Learn how to read a Form 4 SEC filing: who filed, Table I and II, transaction codes, price, shares owned after, footnotes, and real examples of each case. ### Sources - [Form 4 — Ken Xie (FTNT)](https://www.sec.gov/Archives/edgar/data/0001475587/000147558726000016/xslF345X06/form4-11032026%5F091112.xml?ref=bullished.co) — SEC EDGAR ### More on Fortinet - [Fortinet CEO Ken Xie Plans To Sell 161,483 Shares Worth $22 Million](https://www.bullished.co/fortinet-ceo-ken-xie-plans-to-sell-161-483-shares-worth-22-million-835d9a75/) - [Fortinet's Chip Purchase Commitments Hit $1.93 Billion, With $785 Million Reaching Beyond 2026](https://www.bullished.co/fortinets-chip-purchase-commitments-hit-1-93-billion-with-785-million-reaching-beyond-2026-d16d158c/) - [Fortinet Stock Plunges 22%, Wiping Out $28 Billion, After Services Revenue Forecast Cut](https://www.bullished.co/fortinet-stock-plunges-22-wiping-out-28-billion-after-services-revenue-forecast-cut-9a74336e/) [All Fortinet (FTNT) coverage →](https://www.bullished.co/tag/ftnt/)