Lee Klarich - Oct 14, 2021 Form 4 Insider Report for Palo Alto Networks Inc (PANW)

Role: EVP, Chief Product Officer
Signature: Elizabeth Villalobos, Attorney-in-Fact for Lee Klarich
Stock symbol: PANW
Transactions as of: Oct 14, 2021
Transactions value $: $0
Form type: 4
Date filed: 10/18/2021, 05:39 PM
Previous filing: Sep 8, 2021
Next filing: Oct 22, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PANW	10/14/2021	Award	$0	+40.5K	+15.65%	$0.00	299K	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: Twenty-five percent (25%) of the shares shall vest on October 20, 2021; twenty-five percent (25%) of the shares shall vest in equal quarterly increments during year two; twenty-five percent (25%) of the shares shall vest in equal quarterly increments during year three; and twenty-five percent (25%) of the shares shall vest in equal quarterly increments during year four, subject to the 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: Twenty-five percent (25%) of the shares shall vest on October 20, 2021; twenty-five percent (25%) of the shares shall vest in equal quarterly increments during year two; twenty-five percent (25%) of the shares shall vest in equal quarterly increments during year three; and twenty-five percent (25%) of the shares shall vest in equal quarterly increments during year four, subject to the Report Person continuing to be a Service Provider each vesting date.