Fortinet insider activity
What the executives and directors of Fortinet actually did with their own shares, decoded from their SEC Form 4 filings. Each figure says the stretch of time it covers.
−$144M
net open-market flow, 12 m
0 open-market buys, 12 m
70.6%
of sale value on 10b5-1 plans, 12 m
517 days since an insider bought, whole record
The tape: three years of insider trades
Open-market buy
Discretionary sale
Planned sale (10b5-1)
Reported-price path
Routine
Every marker sits at the price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the grey strip is the routine flow (grants, vestings, tax withholding and gifts) that a headline gets wrong by counting it as selling. The share count changed 5-for-1 on Jun 23, 2022, so prices and share counts reported before then are restated to today's basis here; otherwise the tape would show a step the shares never took.
The 176 routine events on the chart, as a list
| Date | Insider | Shares |
|---|---|---|
| Nov 2, 2026 | Xie Ken | 155K |
| Nov 1, 2026 | Xie Michael | 9,489 |
| Nov 1, 2026 | Xie Ken | 20K |
| Nov 1, 2026 | Whittle John | 6,881 |
| Nov 1, 2026 | Ohlgart Christiane | 2,413 |
| Sep 30, 2026 | GOLDMAN KENNETH A | 459 |
| Sep 30, 2026 | Hsieh Ming | 459 |
| Sep 30, 2026 | Hu Jean X. | 459 |
| Sep 30, 2026 | Sim Judith | 459 |
| Sep 30, 2026 | STAVRIDIS JAMES G. | 459 |
| Sep 30, 2026 | Napolitano Janet | 459 |
| Sep 30, 2026 | Kan Derek T. | 459 |
| Sep 15, 2026 | Whittle John | 57K |
| Aug 3, 2026 | Xie Ken | 155K |
| Aug 1, 2026 | Xie Michael | 9,491 |
| Aug 1, 2026 | Xie Ken | 20K |
| Aug 1, 2026 | Whittle John | 6,883 |
| Aug 1, 2026 | Ohlgart Christiane | 2,215 |
| Jun 11, 2026 | GOLDMAN KENNETH A | 650 |
| Jun 11, 2026 | Hsieh Ming | 650 |
| Jun 11, 2026 | Hu Jean X. | 650 |
| Jun 11, 2026 | Sim Judith | 650 |
| Jun 11, 2026 | STAVRIDIS JAMES G. | 650 |
| Jun 11, 2026 | Napolitano Janet | 650 |
| Jun 4, 2026 | Xie Michael | 5,250 |
| Jun 2, 2026 | Xie Ken | 155K |
| May 21, 2026 | Whittle John | 146K |
| May 19, 2026 | GOLDMAN KENNETH A | 1,500 |
| May 19, 2026 | Xie Michael | 5.9M |
| May 1, 2026 | Xie Michael | 9,489 |
| May 1, 2026 | Xie Ken | 20K |
| May 1, 2026 | Whittle John | 6,881 |
| May 1, 2026 | Ohlgart Christiane | 6,645 |
| Apr 17, 2026 | Xie Ken | 236K |
| Mar 31, 2026 | GOLDMAN KENNETH A | 649 |
| Mar 31, 2026 | Hsieh Ming | 649 |
| Mar 31, 2026 | Hu Jean X. | 649 |
| Mar 31, 2026 | Sim Judith | 649 |
| Mar 31, 2026 | STAVRIDIS JAMES G. | 649 |
| Mar 31, 2026 | Napolitano Janet | 649 |
| Feb 2, 2026 | Xie Michael | 324K |
| Feb 2, 2026 | Xie Ken | 135K |
| Feb 1, 2026 | Xie Michael | 60K |
| Feb 1, 2026 | Xie Ken | 131K |
| Feb 1, 2026 | Whittle John | 42K |
| Feb 1, 2026 | Ohlgart Christiane | 4,540 |
| Dec 31, 2025 | GOLDMAN KENNETH A | 649 |
| Dec 31, 2025 | Hsieh Ming | 649 |
| Dec 31, 2025 | Hu Jean X. | 649 |
| Dec 31, 2025 | Sim Judith | 649 |
| Dec 31, 2025 | STAVRIDIS JAMES G. | 649 |
| Dec 31, 2025 | Napolitano Janet | 649 |
| Dec 5, 2025 | Xie Michael | 245K |
| Nov 3, 2025 | Xie Ken | 150K |
| Nov 1, 2025 | Xie Michael | 11K |
| Nov 1, 2025 | Xie Ken | 25K |
| Nov 1, 2025 | Whittle John | 6,905 |
| Nov 1, 2025 | Ohlgart Christiane | 929 |
| Sep 30, 2025 | GOLDMAN KENNETH A | 649 |
| Sep 30, 2025 | Hsieh Ming | 649 |
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price. The share count changed 5-for-1 on Jun 23, 2022, so share counts reported before then are restated to today's basis here.
The chart, in numbers
| Flow | Shares |
|---|---|
| From holdings | 3.4M |
| Vested / exercised | 1.4M |
| Withheld for tax | 115K |
| Planned sales (10b5-1) | 708K |
| Discretionary sales | 519K |
| Gifts | 3.4M |
Skin in the game
Directly held shares as reported after each trade, indexed to 100 at the start of the window, up to five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades. The share count changed 5-for-1 on Jun 23, 2022, so share counts reported before then are restated to today's basis here.
The chart, in numbers
| Insider | Start of the window | Latest reported | Indexed, start = 100 |
|---|---|---|---|
| Xie Ken | 63M | 53M | 84.4 |
| Xie Michael | 30M | 9.9M | 33.3 |
| NEUKOM WILLIAM H. | 1.4M | 303K | 21 |
| Sim Judith | 133K | 130K | 97.6 |
Who holds what
the 14 largest holdings of 15| Insider | Role | Shares held | Buys 12 m | Sales 12 m | 12 m | Last trade |
|---|---|---|---|---|---|---|
| Xie Ken President & CEO Last trade Nov 2, 2026 | CEO | 53M | – | $85M | net selling over the year: 0 months buying, 5 months selling | Nov 2, 2026 |
| Xie Michael VP, Engineering & CTO Last trade Nov 2, 2026 | Officer | 20M | – | $30M | net selling over the year: 0 months buying, 5 months selling | Nov 2, 2026 |
| NEUKOM WILLIAM H. Last trade Jun 6, 2025 | Director | 303K | – | – | Jun 6, 2025 | |
| Sim Judith Last trade Mar 6, 2024 | Director | 130K | – | – | Mar 6, 2024 | |
| Whittle John Chief Operating Officer Last trade Sep 15, 2026 | COO | 99K | – | $28M | net selling over the year: 0 months buying, 2 months selling | Sep 15, 2026 |
| GOLDMAN KENNETH A Last trade Mar 12, 2025 | Director | 43K | – | – | Mar 12, 2025 | |
| Hu Jean X. | Director | 40K | – | – | – | |
| Perche Patrice Chief Revenue Off./EVP Supp. Last trade Dec 21, 2023 | Officer | 30K | – | – | Dec 21, 2023 | |
| STAVRIDIS JAMES G. | Director | 18K | – | – | – | |
| Ohlgart Christiane Chief Financial Officer Last trade Sep 24, 2026 | CFO | 11K | – | $408K | net selling over the year: 0 months buying, 5 months selling | Sep 24, 2026 |
| Hsieh Ming Last trade Dec 15, 2023 | Director | 10K | – | – | Dec 15, 2023 | |
| Jensen Keith Chief Financial Officer Last trade Feb 26, 2025 | CFO | 6,626 | – | – | Feb 26, 2025 | |
| Wilderotter Mary Agnes | Director | 5,069 | – | – | – | |
| Napolitano Janet | Director | 4,733 | – | – | – |
Open-market trade log
the 60 most recent of 1,257| Date | Insider | Type | Shares | Price | Value | Since trade | Filed |
|---|---|---|---|---|---|---|---|
| Nov 2, 2026 | Xie Michael (Officer) 100 shares $133.95 −2.6% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 100 | $133.95 | $13K | −2.6% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Michael (Officer) 200 shares $132.92 −1.9% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 200 | $132.92 | $27K | −1.9% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Michael (Officer) 300 shares $131.29 −0.7% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 300 | $131.29 | $39K | −0.7% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Michael (Officer) 400 shares $127.60 +2.2% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 400 | $127.60 | $51K | +2.2% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Michael (Officer) 400 shares $129.34 +0.9% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 400 | $129.34 | $52K | +0.9% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Michael (Officer) 621 shares $126.08 +3.5% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 621 | $126.08 | $78K | +3.5% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Michael (Officer) 1,100 shares $130.62 −0.1% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 1,100 | $130.62 | $144K | −0.1% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Ken (CEO) 2,700 shares $133.83 −2.5% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 2,700 | $133.83 | $361K | −2.5% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Ken (CEO) 6,500 shares $132.31 −1.4% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 6,500 | $132.31 | $860K | −1.4% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Ken (CEO) 12K shares $127.41 +2.4% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 12K | $127.41 | $1.5M | +2.4% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Ken (CEO) 13K shares $128.27 +1.7% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 13K | $128.27 | $1.7M | +1.7% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Ken (CEO) 14K shares $129.51 +0.7% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 14K | $129.51 | $1.8M | +0.7% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Ken (CEO) 20K shares $131.12 −0.5% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 20K | $131.12 | $2.7M | −0.5% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Ken (CEO) 33K shares $126.17 +3.4% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 33K | $126.17 | $4.2M | +3.4% | Nov 3, 2026 |
| Nov 2, 2026 | Xie Ken (CEO) 60K shares $130.44 +0.0% since trade filed Nov 3, 2026 | Planned sale (10b5-1) | 60K | $130.44 | $7.8M | +0.0% | Nov 3, 2026 |
| Sep 24, 2026 | Ohlgart Christiane (CFO) 48 shares $180.00 −27.5% since trade filed Sep 25, 2026 | Planned sale (10b5-1) | 48 | $180.00 | $9K | −27.5% | Sep 25, 2026 |
| Sep 15, 2026 | Whittle John (COO) 2,835 shares $168.74 −22.7% since trade filed Sep 16, 2026 | Planned sale (10b5-1) | 2,835 | $168.74 | $478K | −22.7% | Sep 16, 2026 |
| Sep 14, 2026 | Whittle John (COO) 1,158 shares $166.02 −21.4% since trade filed Sep 16, 2026 | Planned sale (10b5-1) | 1,158 | $166.02 | $192K | −21.4% | Sep 16, 2026 |
| Sep 14, 2026 | Whittle John (COO) 53K shares $165.43 −21.2% since trade filed Sep 16, 2026 | Planned sale (10b5-1) | 53K | $165.43 | $8.7M | −21.2% | Sep 16, 2026 |
| Aug 4, 2026 | Ohlgart Christiane (CFO) 387 shares $164.59 −20.8% since trade filed Aug 4, 2026 | Planned sale (10b5-1) | 387 | $164.59 | $64K | −20.8% | Aug 4, 2026 |
| Aug 3, 2026 | Xie Michael (Officer) 200 shares $161.75 −19.4% since trade filed Aug 4, 2026 | Planned sale (10b5-1) | 200 | $161.75 | $32K | −19.4% | Aug 4, 2026 |
| Aug 3, 2026 | Xie Michael (Officer) 700 shares $160.36 −18.7% since trade filed Aug 4, 2026 | Planned sale (10b5-1) | 700 | $160.36 | $112K | −18.7% | Aug 4, 2026 |
| Aug 3, 2026 | Xie Michael (Officer) 800 shares $163.98 −20.5% since trade filed Aug 4, 2026 | Planned sale (10b5-1) | 800 | $163.98 | $131K | −20.5% | Aug 4, 2026 |
| Aug 3, 2026 | Xie Michael (Officer) 1,421 shares $163.12 −20.0% since trade filed Aug 4, 2026 | Planned sale (10b5-1) | 1,421 | $163.12 | $232K | −20.0% | Aug 4, 2026 |
| Aug 3, 2026 | Xie Ken (CEO) 162 shares $164.49 −20.7% since trade filed Aug 4, 2026 | Planned sale (10b5-1) | 162 | $164.49 | $27K | −20.7% | Aug 4, 2026 |
| Aug 3, 2026 | Xie Ken (CEO) 7,350 shares $161.82 −19.4% since trade filed Aug 4, 2026 | Planned sale (10b5-1) | 7,350 | $161.82 | $1.2M | −19.4% | Aug 4, 2026 |
| Aug 3, 2026 | Xie Ken (CEO) 18K shares $160.14 −18.6% since trade filed Aug 4, 2026 | Planned sale (10b5-1) | 18K | $160.14 | $2.9M | −18.6% | Aug 4, 2026 |
| Aug 3, 2026 | Xie Ken (CEO) 20K shares $160.82 −18.9% since trade filed Aug 4, 2026 | Planned sale (10b5-1) | 20K | $160.82 | $3.2M | −18.9% | Aug 4, 2026 |
| Aug 3, 2026 | Xie Ken (CEO) 48K shares $163.91 −20.4% since trade filed Aug 4, 2026 | Planned sale (10b5-1) | 48K | $163.91 | $7.9M | −20.4% | Aug 4, 2026 |
| Aug 3, 2026 | Xie Ken (CEO) 68K shares $163.08 −20.0% since trade filed Aug 4, 2026 | Planned sale (10b5-1) | 68K | $163.08 | $11M | −20.0% | Aug 4, 2026 |
| Jun 3, 2026 | Xie Michael (Officer) 132 shares $148.30 −12.0% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 132 | $148.30 | $20K | −12.0% | Jun 3, 2026 |
| Jun 3, 2026 | Xie Michael (Officer) 410 shares $145.72 −10.5% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 410 | $145.72 | $60K | −10.5% | Jun 3, 2026 |
| Jun 3, 2026 | Xie Michael (Officer) 464 shares $144.46 −9.7% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 464 | $144.46 | $67K | −9.7% | Jun 3, 2026 |
| Jun 3, 2026 | Xie Michael (Officer) 564 shares $147.71 −11.7% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 564 | $147.71 | $83K | −11.7% | Jun 3, 2026 |
| Jun 3, 2026 | Xie Michael (Officer) 2,337 shares $146.55 −11.0% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 2,337 | $146.55 | $342K | −11.0% | Jun 3, 2026 |
| Jun 2, 2026 | Xie Ken (CEO) 8,627 shares $148.94 −12.4% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 8,627 | $148.94 | $1.3M | −12.4% | Jun 3, 2026 |
| Jun 2, 2026 | Xie Ken (CEO) 9,641 shares $142.37 −8.4% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 9,641 | $142.37 | $1.4M | −8.4% | Jun 3, 2026 |
| Jun 2, 2026 | Xie Ken (CEO) 13K shares $145.04 −10.1% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 13K | $145.04 | $1.9M | −10.1% | Jun 3, 2026 |
| Jun 2, 2026 | Xie Ken (CEO) 14K shares $147.37 −11.5% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 14K | $147.37 | $2.0M | −11.5% | Jun 3, 2026 |
| Jun 2, 2026 | Xie Ken (CEO) 18K shares $148.24 −12.0% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 18K | $148.24 | $2.7M | −12.0% | Jun 3, 2026 |
| Jun 2, 2026 | Xie Ken (CEO) 20K shares $143.43 −9.1% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 20K | $143.43 | $2.8M | −9.1% | Jun 3, 2026 |
| Jun 2, 2026 | Xie Ken (CEO) 38K shares $146.36 −10.9% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 38K | $146.36 | $5.5M | −10.9% | Jun 3, 2026 |
| Jun 2, 2026 | Xie Ken (CEO) 40K shares $144.29 −9.6% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 40K | $144.29 | $5.8M | −9.6% | Jun 3, 2026 |
| May 21, 2026 | Whittle John (COO) 4,216 shares $129.55 +0.7% since trade filed May 22, 2026 | Planned sale (10b5-1) | 4,216 | $129.55 | $546K | +0.7% | May 22, 2026 |
| May 21, 2026 | Whittle John (COO) 55K shares $128.74 +1.3% since trade filed May 22, 2026 | Planned sale (10b5-1) | 55K | $128.74 | $7.1M | +1.3% | May 22, 2026 |
| May 21, 2026 | Whittle John (COO) 87K shares $128.15 +1.8% since trade filed May 22, 2026 | Planned sale (10b5-1) | 87K | $128.15 | $11M | +1.8% | May 22, 2026 |
| May 20, 2026 | Ohlgart Christiane (CFO) 238 shares $130.00 +0.3% since trade filed May 20, 2026 | Planned sale (10b5-1) | 238 | $130.00 | $31K | +0.3% | May 20, 2026 |
| May 14, 2026 | Ohlgart Christiane (CFO) 756 shares $120.00 +8.7% since trade filed May 15, 2026 | Planned sale (10b5-1) | 756 | $120.00 | $91K | +8.7% | May 15, 2026 |
| May 11, 2026 | Ohlgart Christiane (CFO) 238 shares $115.00 +13.4% since trade filed May 13, 2026 | Planned sale (10b5-1) | 238 | $115.00 | $27K | +13.4% | May 13, 2026 |
| May 7, 2026 | Ohlgart Christiane (CFO) 756 shares $110.00 +18.6% since trade filed May 8, 2026 | Planned sale (10b5-1) | 756 | $110.00 | $83K | +18.6% | May 8, 2026 |
| May 5, 2026 | Ohlgart Christiane (CFO) 596 shares $89.70 +45.4% since trade filed May 5, 2026 | Planned sale (10b5-1) | 596 | $89.70 | $53K | +45.4% | May 5, 2026 |
| May 4, 2026 | Xie Michael (Officer) 63 shares $89.61 +45.6% since trade filed May 5, 2026 | Planned sale (10b5-1) | 63 | $89.61 | $6K | +45.6% | May 5, 2026 |
| May 4, 2026 | Xie Michael (Officer) 190 shares $87.04 +49.9% since trade filed May 5, 2026 | Planned sale (10b5-1) | 190 | $87.04 | $17K | +49.9% | May 5, 2026 |
| May 4, 2026 | Xie Michael (Officer) 197 shares $88.09 +48.1% since trade filed May 5, 2026 | Planned sale (10b5-1) | 197 | $88.09 | $17K | +48.1% | May 5, 2026 |
| May 4, 2026 | Xie Michael (Officer) 2,028 shares $89.12 +46.4% since trade filed May 5, 2026 | Planned sale (10b5-1) | 2,028 | $89.12 | $181K | +46.4% | May 5, 2026 |
| May 4, 2026 | Xie Ken (CEO) 137 shares $89.61 +45.6% since trade filed May 5, 2026 | Planned sale (10b5-1) | 137 | $89.61 | $12K | +45.6% | May 5, 2026 |
| May 4, 2026 | Xie Ken (CEO) 410 shares $87.04 +49.9% since trade filed May 5, 2026 | Planned sale (10b5-1) | 410 | $87.04 | $36K | +49.9% | May 5, 2026 |
| May 4, 2026 | Xie Ken (CEO) 425 shares $88.09 +48.1% since trade filed May 5, 2026 | Planned sale (10b5-1) | 425 | $88.09 | $37K | +48.1% | May 5, 2026 |
| May 4, 2026 | Xie Ken (CEO) 4,383 shares $89.12 +46.4% since trade filed May 5, 2026 | Planned sale (10b5-1) | 4,383 | $89.12 | $391K | +46.4% | May 5, 2026 |
| Feb 3, 2026 | Ohlgart Christiane (CFO) 507 shares $80.73 +61.6% since trade filed Feb 3, 2026 | Planned sale (10b5-1) | 507 | $80.73 | $41K | +61.6% | Feb 3, 2026 |
“Since trade” compares with the latest insider-implied price, not a market quote: these pages are built from filings alone. A role here is the one on that day's Form 4, so somebody promoted since appears under both titles. The share count changed 5-for-1 on Jun 23, 2022. This table prints prices and share counts as they were filed, on the basis of the day, while the charts above are on today's; “Since trade” puts the filed price on today's basis first, which is why it does not divide into the price beside it.
Filing hygiene
252 Forms 4, 3 years
0 filed late
1 amendments
1.4 avg. days to file
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.