Nikesh Arora - Oct 16, 2024 Form 4 Insider Report for Palo Alto Networks Inc (PANW)

Role: Chief Executive Officer, Director
Signature: /s/ Elizabeth Villalobos, Attorney-in-Fact for Nikesh Arora
Stock symbol: PANW
Transactions as of: Oct 16, 2024
Transactions value $: $0
Form type: 4
Date filed: 10/18/2024, 04:30 PM
Previous filing: Oct 15, 2024
Next filing: Oct 22, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PANW	Common Stock	Award	$0	+93.6K	+15.12%	$0.00	712K	Oct 16, 2024	Direct	F1
holding	PANW	Common Stock						16K	Oct 16, 2024	See footnote	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share is represented by a performance-based restricted stock unit ("PSU"). The number of shares acquired represents the achievement of performance conditions, as certified by the Issuer's Compensation Committee on October 16, 2024, with respect to PSUs granted to the Reporting Person on August 20, 2021. The PSUs vest on October 20, 2024, subject to the Reporting Person continuing to be a Service Provider through that vesting date.
F2	Shares are held by Bacchey Investments L.P., of which Bacchey Management LLC (the "LLC") is the General Partner. The Reporting Person is the manager of the LLC. The sole member of the LLC is the Aurora Trust, for which the Reporting Person serves as a trustee.

Content

Each share is represented by a performance-based restricted stock unit ("PSU"). The number of shares acquired represents the achievement of performance conditions, as certified by the Issuer's Compensation Committee on October 16, 2024, with respect to PSUs granted to the Reporting Person on August 20, 2021. The PSUs vest on October 20, 2024, subject to the Reporting Person continuing to be a Service Provider through that vesting date.

Shares are held by Bacchey Investments L.P., of which Bacchey Management LLC (the "LLC") is the General Partner. The Reporting Person is the manager of the LLC. The sole member of the LLC is the Aurora Trust, for which the Reporting Person serves as a trustee.