Form 4: Fortinet Director James G. Stavridis Reports Stock Transactions
SEC Form 4 Filing
Director James G. Stavridis reports the vesting of restricted stock units and subsequent acquisition of Fortinet common stock.
Summary
- On September 30, 2024, James G. Stavridis, a director of Fortinet, Inc., had 1,129 restricted stock units (RSUs) vest.
- These RSUs converted into 1,129 shares of Fortinet common stock.
- The transaction was reported on October 2, 2024.
- Following the transaction, Stavridis directly owns 11,202 shares of Fortinet common stock and 3,390 derivative securities.
Sentiment
Score: 5
Explanation: This is a routine insider transaction report, neither particularly positive nor negative.
Future Outlook
The remaining RSUs will vest in substantially equal increments on December 31, 2024, March 31, 2025, and the earlier of June 30, 2025 and the date immediately preceding the Issuer's 2025 annual meeting of stockholders, subject to the Reporting Person's provision of services to the Issuer on each vesting date.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for directors and officers of publicly traded companies like Fortinet.
Key Dates
| Date | Description |
|---|---|
| August 20, 2024 | Date of restricted stock units (RSUs) grant to the Reporting Person |
| September 30, 2024 | Date of RSU vesting and stock acquisition |
| December 31, 2024 | Next RSU vesting date |
| March 31, 2025 | Next RSU vesting date |
| June 30, 2025 | Next RSU vesting date |
| October 02, 2024 | Date of Form 4 filing |
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