Fortinet® (NASDAQ:FTNT), a global leader in broad, integrated and automated cybersecurity solutions, today announced its intention to implement its previously announced five-for-one forward stock split (the “Stock Split”) on June 22, 2022. Fortinet previously disclosed the Stock Split on April 22, 2022, and further details on the Stock Split were included in Fortinet’s definitive proxy statement (the “Proxy Statement”) relating to Fortinet’s Annual Meeting of Stockholders to be held on June 17, 2022 (the “2022 Annual Meeting”).
The Stock Split is contingent upon stockholder approval at the 2022 Annual Meeting of an Amended and Restated Certificate of Incorporation (the “Restated Certificate”) that would increase the number of authorized shares of Fortinet’s common stock and implement the Stock Split, among certain other changes described in the Proxy Statement.
If Fortinet’s stockholders approve the Stock Split at the 2022 Annual Meeting then, upon the filing of the Restated Certificate, each share of Fortinet’s common stock outstanding on June 22, 2022 will be split into five shares of common stock. Trading is expected to begin on a split-adjusted basis on or around June 23, 2022.
For additional details, please see the Proxy Statement filed with the U.S. Securities and Exchange Commission on May 2, 2022.
This will be the second time that Fortinet has split its stock, having implemented in 2011 a two-for-one stock split.
