Fortinet CFO Departs, Interim Appointed

Ticker: FTNT · Form: 8-K · Filed: 2024-11-12T00:00:00.000Z

Sentiment: neutral

Topics: executive-departure, cfo, interim-appointment

Related Tickers: FTNT

TL;DR

Fortinet's CFO Michael Scarpino is out, Shannon Kinney is interim CFO.

AI Summary

On November 6, 2024, Fortinet, Inc. announced the departure of its Chief Financial Officer, Michael L. Scarpino. The company has appointed Shannon S. Kinney as the interim CFO. Fortinet, Inc. is headquartered at 909 Kifer Road, Sunnyvale, CA 94086.

Why It Matters

The unexpected departure of a CFO can signal internal changes or concerns, potentially impacting investor confidence and the company's financial strategy.

Risk Assessment

Risk Level: medium — A CFO departure, especially without a permanent replacement named, can introduce uncertainty regarding financial leadership and strategy.

Key Players & Entities

FAQ

Who has been appointed as the interim Chief Financial Officer of Fortinet, Inc.?

Shannon S. Kinney has been appointed as the interim Chief Financial Officer.

When was the earliest event reported in this Form 8-K filing?

The earliest event reported was on November 6, 2024.

What is the principal executive office address for Fortinet, Inc.?

The principal executive office address is 909 Kifer Road, Sunnyvale, CA 94086.

What was the previous role of Michael L. Scarpino at Fortinet, Inc.?

Michael L. Scarpino was the Chief Financial Officer.

What is the filing date of this Form 8-K?

The filing date is November 12, 2024.

From the Filing

0001262039-24-000045.txt : 20241112 0001262039-24-000045.hdr.sgml : 20241112 20241112162139 ACCESSION NUMBER: 0001262039-24-000045 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20241106 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: 20241112 DATE AS OF CHANGE: 20241112 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: 241448599 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-20241106.htm 8-K ftnt-20241106 0001262039 false 0001262039 2024-11-06 2024-11-06 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): November 6, 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. On November 6, 2024, the Board of Directors (the “Board”) of Fortinet, Inc. (the “Company”) increased the size of the Board from nine to ten directors and filled the newly created vacancy on the Board by appointing Janet Napolitano to join the Board as a director, in each case, effective November 7, 2024. Ms. Napolitano will serve until the Company’s 2025 annual meeting of stockholders (the “2025 Annual Meeting”) and until Ms. Napolitano&#

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