Lee Klarich - Apr 5, 2024 Form 4 Insider Report for Palo Alto Networks Inc (PANW)

Role
EVP, Chief Product Officer
Signature
/s/ Mary Shimizu, Attorney-in-Fact for Lee Klarich
Stock symbol
PANW
Transactions as of
Apr 5, 2024
Transactions value $
-$12,212,255
Form type
4
Date filed
4/9/2024, 04:30 PM
Previous filing
Mar 13, 2024
Next filing
Apr 22, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PANW Common Stock Options Exercise $3.87M +60K +34.47% $64.50 234K Apr 5, 2024 Direct F1
transaction PANW Common Stock Sale -$930K -3.5K -1.49% $265.87 231K Apr 5, 2024 Direct F2, F3
transaction PANW Common Stock Sale -$2.16M -8.1K -3.51% $266.89 222K Apr 5, 2024 Direct F2, F4
transaction PANW Common Stock Sale -$6.07M -22.7K -10.18% $267.88 200K Apr 5, 2024 Direct F2, F5
transaction PANW Common Stock Sale -$5.8M -21.6K -10.8% $268.72 178K Apr 5, 2024 Direct F2, F6
transaction PANW Common Stock Sale -$1.12M -4.16K -2.33% $269.44 174K Apr 5, 2024 Direct F2, F7
holding PANW Common Stock 400K Apr 5, 2024 See footnote F8

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PANW Stock Option (right to buy) Options Exercise $0 -60K -4.67% $0.00 1.23M Apr 5, 2024 Common Stock 60K $64.50 Direct F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Total holdings have been adjusted pursuant to an internal review by the Reporting Person.
F2 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 22, 2023.
F3 This sale price represents the weighted average sale price of the shares sold ranging from $265.27 to $266.26 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F4 This sale price represents the weighted average sale price of the shares sold ranging from $266.30 to $267.29 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F5 This sale price represents the weighted average sale price of the shares sold ranging from $267.30 to $268.29 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F6 This sale price represents the weighted average sale price of the shares sold ranging from $268.30 to $269.29 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F7 This sale price represents the weighted average sale price of the shares sold ranging from $269.30 to $269.64 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F8 Shares are held by the Klarich 2005 Trust, for which the Reporting Person and his spouse serve as trustees.
F9 The shares subject to the option are fully vested and exercisable.