Fortinet 8-K Hints at Executive Changes or Compensation Adjustments

Ticker: FTNT · Form: 8-K · Filed: 2024-02-23T00:00:00.000Z

Sentiment: neutral

Topics: executive-changes, compensation, corporate-governance

TL;DR

**Fortinet just filed an 8-K about executive changes or pay, so keep an eye on leadership and compensation.**

AI Summary

Fortinet, Inc. filed an 8-K on February 23, 2024, reporting an event that occurred on February 16, 2024. The filing pertains to Item 5.02, "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers," and Item 9.01, "Financial Statements and Exhibits." This indicates potential changes in executive leadership or their compensation structures at Fortinet, Inc.

Why It Matters

Changes in executive leadership or compensation can signal strategic shifts, financial health, or governance adjustments, directly impacting investor confidence and future company performance.

Risk Assessment

Risk Level: medium — While the filing doesn't detail specific changes, any executive or compensation adjustments carry inherent risks and opportunities for the company.

Key Players & Entities

FAQ

What is the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on February 16, 2024.

What are the specific items reported in this 8-K?

The specific items reported are Item 5.02, "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers," and Item 9.01, "Financial Statements and Exhibits."

When was this 8-K filed with the SEC?

This 8-K was filed with the SEC on February 23, 2024.

What is the address of Fortinet, Inc. as stated in the filing?

The business address of Fortinet, Inc. is 909 Kifer Road, Sunnyvale, CA 94086.

What is Fortinet, Inc.'s Commission File Number?

Fortinet, Inc.'s Commission File Number is 001-34511.

From the Filing

0001262039-24-000011.txt : 20240223 0001262039-24-000011.hdr.sgml : 20240223 20240223162603 ACCESSION NUMBER: 0001262039-24-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240216 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240223 DATE AS OF CHANGE: 20240223 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Fortinet, Inc. CENTRAL INDEX KEY: 0001262039 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] ORGANIZATION NAME: 06 Technology IRS NUMBER: 770560389 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34511 FILM NUMBER: 24671609 BUSINESS ADDRESS: STREET 1: 909 KIFER ROAD CITY: SUNNYVALE STATE: CA ZIP: 94086 BUSINESS PHONE: 408-235-7700 MAIL ADDRESS: STREET 1: 909 KIFER ROAD CITY: SUNNYVALE STATE: CA ZIP: 94086 FORMER COMPANY: FORMER CONFORMED NAME: FORTINET INC DATE OF NAME CHANGE: 20030902 8-K 1 ftnt-20240216.htm FORM 8-K ftnt-20240216 0001262039 false 0001262039 2024-02-16 2024-02-16 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 16, 2024   FORTINET, INC. (Exact name of registrant as specified in its charter) Delaware 001-34511 77-0560389 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 909 Kifer Road Sunnyvale , CA 94086 (Address of principal executive offices, including zip code) ( 408 ) 235-7700 (Registrant ’ s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Exchange Act: (Title of each class) (Trading Symbol) (Name of exchange on which registered) Common Stock, $0.001 Par Value FTNT The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).    Emerging growth company     ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐   Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Wilderotter Appointment On February 16, 2024, the Board of Directors (the “Board”) of Fortinet, Inc. (the “Company”) increased the size of the Board from eight to nine directors and filled the newly created vacancy on the Board by appointing Mary Agnes “Maggie” Wilderotter to join the Board as a director, in each case, effective April 19, 2024. Ms. Wilderotter will serve until the Company’s 2024 annual meeting of stockholders (the &#8

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