Nikesh Arora - 07 Jun 2025 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
Issuer symbol
PANW
Transactions as of
07 Jun 2025
Net transactions value
$0
Form type
4
Filing time
10 Jun 2025, 19:00:04 UTC
Previous filing
17 Feb 2026
Next filing
23 Jun 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Arora Nikesh Chief Executive Officer, Director C/O PALO ALTO NETWORKS INC., 3000 TANNERY WAY, SANTA CLARA /s/ Elizabeth Villalobos, Attorney-in-Fact for Nikesh Arora 10 Jun 2025 0001468233

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PANW Common Stock Disposed to Issuer $0 -42,558 -13% $0.000000 275,013 07 Jun 2025 Direct F1
holding PANW Common Stock 32,010 07 Jun 2025 See footnote F2
holding PANW Common Stock 726,542 07 Jun 2025 See footnote F3

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 Phantom Stock Award $0 +42,558 +2.5% $0.000000 1,772,738 07 Mar 2025 Common Stock 42,558 Direct F1, F4
* 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 In connection with the vesting of previously reported restricted stock units, the Reporting Person elected to defer these shares pursuant to the Palo Alto Networks, Inc. Deferred Compensation Plan (the "Deferred Compensation Plan").
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.
F3 Shares are held by the Nikesh Arora 2025 Annuity Trust, for which the Reporting Person serves as trustee.
F4 Pursuant to the Deferred Compensation Plan, each share of phantom stock represents the Reporting Person's right to receive one share of common stock of the Issuer. The common stock shares will be released on or about January 31, 2027.