Insider trade

CEO sold ~$3.46M of FTNT shares in the open market

Traded Nov 3, 2025 · Filed Nov 5, 2025

FortinetFTNT

~$3.46M
Reported value · 40K sh @ $85.496: 51.5M
Holds after · shares reported: +104.2%
stock since the trade · S&P 500 +11.8%, $87.52 → $178.72 on Oct 1

Why it stands out

The boss of Fortinet sold $3.46M of Fortinet shares. It was planned long ago, so it says very little.

Written from the filing's own figures. OQRO describes what was reported and never tells you what to buy or sell

View the official recordSEC Form 4 — Statement of Changes in Beneficial Ownership

All the details

Dates, kept separate

Transaction date: Nov 3, 2025
Reporting period: Not applicable
Filed with the SEC: Nov 5, 2025

CEO$1M+Pre-arranged plan referenced

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$3,460,109

Shares × reported transaction price

Timing vs results

89 days after results of Aug 6, 2025, 2 days before results of Nov 5, 2025

Results dates are the company's own 8-K (Item 2.02). Many companies only let insiders trade in a window after results

Price at the time

Closed at $87.52 on Nov 3, 2025, 18% above its 52-week low and 24% below its high, after a 3% rise over the previous 30 trading days

52-week range $74.39 (Aug 8, 2025) to $114.57 (Feb 19, 2025), 33% of the way up, from 250 adjusted closes. 30 trading days earlier: $85.01 on Sep 22, 2025. Describes the past only, not a forecast

Planned / mechanical clue

Footnote references a pre-arranged trading plan (Rule 10b5-1)

Only flagged when a footnote says so; never inferred

Securities lawsuit open at the trade date

A securities lawsuit naming the company as a defendant was filed on Oct 16, 2025 in the U.S. District Court, N.D. California. A filing is an allegation, not a finding.

2 such cases were open. State of Rhode Island Office of the General Treasurer on Behalf of the Employees' Retirement System of the State of Rhode Island v. Fortinet, Inc., docket 3:25-cv-08888, via CourtListener (court records). Nature of suit 850, company named as first defendant

After it was reported

After	Stock	S&P 500	Difference
7 days	+0.6%	+0.3%	+0.3%
30 days	+3.7%	+2.0%	+1.7%
90 days	+0.7%	+2.4%	-1.6%
180 days	+11.7%	+8.0%	+3.7%

Past results only. Not a forecast.

Source receipt

Record ID: 0001475587-25-000004
Filed / recorded: Nov 5, 2025, 5:39 AM UTC
Added to OQRO: Oct 2, 2026, 12:27 PM UTC
Parser: form4-xml-v1
Data quality: Verified: identifiers matched exactly
Issuer: Fortinet, Inc.
Issuer CIK: 1262039
Ticker: FTNT
Reporting person: Ken Xie
Relationship: Director, Officer
Officer title: PRESIDENT & CEO
Security: Common Stock
Table: Non-derivative (Table I)
Transaction date: Nov 3, 2025
Transaction code: S
Shares / units: 40,471
Price per share: $85.496
Acquired / disposed: Disposed (D)
Shares owned after: 51,509,893
Ownership form: Direct
Amendment: No

Footnotes from the filing

The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 9, 2024.
Represents the weighted average sale price. The lowest price at which shares were sold was $84.88 and the highest price at which shares were sold was $85.87. The Reporting Person undertakes to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or its stockholders, full information regarding the total number of shares sold at each separate price within the ranges set forth in footnotes (4), (5) and (6) to this Form 4.