Ken Xie
Also at Fortinet Inc
About
Ken Xie has played a foundational role in shaping FTNT into a global leader in cybersecurity solutions, leveraging over 25 years of technical and management expertise.
He co-founded the firm in October 2000 and has continuously driven its vision as the Chief Executive Officer, while also serving as President until November 2013, demonstrating a deep commitment to the company’s growth and innovation.
Born in 1963 and recognized for his substantial contributions in the networking and security industries, his rigorous academic background in electrical engineering from Tsinghua University and Stanford University has been a cornerstone of his successful career.
Apart from his leadership at FTNT, his earlier ventures include founding a notable network security firm and heading technology solutions businesses, further cementing his reputation as a key influencer in the tech industry.
$FTNT Performance Under Ken Xie
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Fortinet | President | October 2000 – November 2013 | Former role before being CEO and Chairman |
| NetScreen Technologies, Inc. | Founder, President, and Chief Executive Officer | Until April 2004 | Acquired by Juniper Networks, Inc. in April 2004 |
| SIS, Inc. (Systems Integration Solutions, Inc.) | Chief Executive Officer | N/A | Talent services firm specializing in delivering technology solutions |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| TeleNav, Inc. | Board of Directors | July 2012 – Present | Wireless location-based services corporation |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $622,000 | Annually | 22% decrease from 2022 base salary of $797,000; no other fixed components reported |
Performance Compensation
Performance-Based Restricted Stock Units (PSUs)
| Metric [unit] | Value | Details |
|---|---|---|
| Performance Metric | TSR relative to the S&P 500 | Measured over multiple periods |
| Performance Periods | Tranche 1: Jan 1 – Dec 31, 2023 (20% weighting) | Tranches 2–4 extend to 2024-2026 |
| Actual Results (Tranche 1) | 21,834 PSUs earned | Fortinet’s TSR percentile rank was 52nd |
| Threshold / Vesting | Below 25th percentile: 0%; 25th percentile: 50% vesting | Target at 50th: 100% vesting; 75th or greater: 200% vesting |
| Grant Date | February 27, 2023 | Vesting on February 1 following period end |
| Grant Date Fair Value | $9,110,153 for 100,160 target PSUs | Valued using Monte Carlo simulation |
Annual Incentive – Cash Bonus & Equity-Based Awards
| Metric [unit] | Value | Details |
|---|---|---|
| Component | Cash Bonus and Equity Awards | Includes RSUs and PSUs for equity; cash bonus separately specified |
| Cash Bonus Earned | $597,921 | Based on revenue (70%) and operating income (30%) metrics |
| Performance Metrics | Revenue & Operating Income | Threshold at 90% (40% bonus funding), target at 100% (100% funding), maximum at 140% (140% funding) |
| Equity Award Grant Date | February 27, 2023 | RSUs granted with fair value $5,971,539; PSUs as detailed above |
| Vesting Schedule (Equity) | RSUs: 25% on Feb 1, 2024 then monthly vesting; PSUs: per tranche vesting after performance period | Vesting contingent on staying in service as of vesting dates |
These tables summarize the detailed performance compensation components for 2023 with exact dollar amounts, share quantities, percentages, and specific performance criteria as documented.