Nikesh Arora - Oct 14, 2021 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 14, 2021
Transactions value $: $0
Form type: 4
Date filed: 10/18/2021, 05:38 PM
Previous filing: Sep 20, 2021
Next filing: Oct 22, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PANW	Common Stock	Award	$0	+85.1K	+17.32%	$0.00	576K	Oct 14, 2021	Direct	F1

* 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 reported is the above-target achievement, as certified by the Issuer's Compensation Committee on October 14, 2021, over the target award amount reported in the Reporting Person's Form 4 that was filed with the SEC on October 20, 2020. These PSUs will vest as follows: Fifteen percent (15%) of the shares shall vest in equal quarterly increments during year two with the first vesting on January 20, 2022; forty-two and a half percent (42.5%) of the shares shall vest in equal quarterly increments during year three; and forty-two and a half percent (42.5%) of the shares shall vest in equal quarterly increments during year four, subject tot he Report Person continuing to be a Service Provider each vesting date.

Content

Each share is represented by a performance-based restricted stock unit (PSU). The number of shares reported is the above-target achievement, as certified by the Issuer's Compensation Committee on October 14, 2021, over the target award amount reported in the Reporting Person's Form 4 that was filed with the SEC on October 20, 2020. These PSUs will vest as follows: Fifteen percent (15%) of the shares shall vest in equal quarterly increments during year two with the first vesting on January 20, 2022; forty-two and a half percent (42.5%) of the shares shall vest in equal quarterly increments during year three; and forty-two and a half percent (42.5%) of the shares shall vest in equal quarterly increments during year four, subject tot he Report Person continuing to be a Service Provider each vesting date.