Fortinet CEO Ken Xie's Trust-Related Stock Transfers and Ownership Reconciliation

This SEC Form 4 filing reports stock transactions and ownership adjustments for Ken Xie, President & CEO of Fortinet, Inc. The filing primarily involves transfers of common stock from grantor retained annuity trusts (GRATs) for the benefit of Xie and his spouse. On April 17, 2026, multiple transactions occurred involving 236,431 shares each, resulting in transfers from trusts to direct ownership. Xie's direct ownership increased to 52,976,878 shares, while his spouse's indirect holdings total 4,848,774 shares. The filing includes a reconciliation adjustment to align reported ownership with the company's transfer agent records, indicating administrative corrections rather than market transactions. All transfers were coded as 'G' transactions (gift, inheritance, or estate transfer) with zero price per share, confirming they were not open market sales or purchases.