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Ken Xie received $37.7M in total compensation as Chief Executive Officer of Fortinet, Inc. in FY2024. The largest component was $13.1M in base salary. That’s up 131% from FY2023. Source: SEC DEF 14A.
In fiscal year 2024, Ken Xie, Chief Executive Officer of Fortinet, Inc. (FTNT), received total compensation of $37.7 million.
Ken Xie's compensation breakdown includes: base salary of $13.1 million,.
Compared to fiscal year 2023, Ken Xie's total compensation increased 131% from $16.3 million to $37.7 million.
Fortinet, Inc.'s top 5 named executive officers received combined total compensation of $61.6 million in fiscal year 2024.
The named executive officers disclosed in Fortinet, Inc.'s 2024 proxy statement are:Ken Xie (Chief Executive Officer) with total compensation of $37.7 million, Michael Xie (President and Chief Technology) with total compensation of $6.0 million, Keith Jensen (Chief Financial Officer) with total compensation of $6.0 million, John Whittle (President of Corporate Development, Chief Legal Officer and Corporate Secretary) with total compensation of $6.0 million, and Patrice Perche(4) (Chief Revenue Officer and Executive Vice President of Support) with total compensation of $6.0 million.
Chief Executive Officer
35% cash · 65% other
Based on DEF 14A filed 2025-04-25 · FY2024
Team view
5 executives
Chief Executive Officer
Total PayFY2024
$37.7M
President and Chief Technology
Total PayFY2024
$6.0M
Chief Financial Officer
Total PayFY2024
$6.0M
President of Corporate Development, Chief Legal Officer and Corporate Secretary
Total PayFY2024
$6.0M
Chief Revenue Officer and Executive Vice President of Support
Total PayFY2024
$6.0M
FY2024 total compensation breakdown
$37.7M total compensation
Ken Xie earned $37.7M in FY2024 — here's how that breaks down.
$13.1M
35% of total
Activity timeline · FY2024
Recent events from filings
Nov 7, 2024
Janet Napolitano — Director Compensation | Annual cash retainer of $55,000 for serving on the Board.; Annual cash retainers for service on any committees of the Board.; Grant of restricted stock units (RSUs) with a target award value based on the peer 50th percentile.; RSUs will vest on the day prior to the 2025 Annual Meeting.; Standard form of indemnification agreement for non-executive directors.; Standard form of change of control agreement for non-executive directors.; Upon a change of control, all unvested equity awards (including RSUs) shall vest immediately prior to the consummation.
Apr 19, 2024
Mary Agnes Wilderotter — Director Compensation | Annual cash retainer of $55,000 for serving on the Board.; Additional annual cash retainers for committee service.; Grant of Restricted Stock Units (RSUs) with a target award value based on the 50th percentile of peer companies.; RSUs vest on the day prior to the 2024 annual meeting of stockholders.; Standard form of indemnification agreement for non-executive directors to be effective upon her start date.; Standard form of change of control agreement for non-executive directors, under which unvested equity awards (including RSUs) vest immediately prior to a change of control.
Mar 18, 2024
Christiane Ohlgart — Employment Agreement | Annual base salary of $450,000.; Target bonus of 50% of her annual base salary.; Grant of Restricted Stock Units (RSUs) with a target award value of $750,000.; RSUs vest over four years: 1/4th on May 1, 2025, and 1/16th quarterly thereafter.; Grant of Performance Stock Units (PSUs) with a target award value of $750,000.; PSUs vest over four years based on the percentile ranking of the Company's total stockholder return among companies in the S&P 500 Index, with specific weighting for performance periods (20% for each of the first three years, 40% for the four-year period).
Jan 15, 2024
John Whittle — Appointment | Appointed Chief Operating Officer on January 15, 2024.; Continues to serve as Corporate Secretary.; No change to compensation as a result of this appointment.; Previously served as Executive Vice President of Corporate Development and Chief Legal Officer.
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Pay changes vs. stock performance
Recent insider trades by officers and directors
~150 trades
For analysts and deep research
Historical compensation data from latest proxy filing
| Year | Executive | Salary | Bonus & Incentive | Stock Awards | Option Awards | Other Adj. | Total |
|---|---|---|---|---|---|---|---|
| 2024 | Ken Xie Chief Executive Officer | $13.1M | $0.00M | $0.00M | $0.00M | $24.6M | $37.7M |
| 2023 | Ken Xie Chief Executive Officer | $0.62M | $0.60M | $15.1M | $0.00M | $0.00M | $16.3M |
| 2022 | Ken Xie Chief Executive Officer | $0.80M | $0.98M | $5.98M | $6.45M | $0.00M | $14.2M |
| 2021 | Ken Xie Chief Executive Officer | $0.80M | $1.02M | $6.24M | $6.15M | $0.00M | $14.2M |
| 2020 | Ken Xie Chief Executive Officer | $10.7M | $0.00M | $0.00M | $0.00M | $13.8M | $24.5M |
Salary = base cash pay. Bonus & Incentive combines annual bonus and non-equity plans. Equity amounts are grant-date fair values. Other Adj. captures pension changes, perquisites, and any reconciliation items so the total matches the reported figure.
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