people · May 22, 2026
Fortinet CTO Michael Xie Gifts 11.7 Million Shares via Family Trusts
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Fortinet VP Engineering and CTO Michael Xie reported four bona fide gift transactions on May 19, 2026 totaling 11,709,176 shares transferred through family trusts at $0.00 per share. The gifts involved grantor retained annuity trusts and children’s trusts where Xie and his spouse serve as trustees. Post-transaction direct holdings stand at 9,927,517 shares with substantial remaining indirect trust positions exceeding 48 million shares. The transfers represent estate and family-planning activity rather than open-market sales.
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