Nikesh Arora - Oct 20, 2022 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 20, 2022
Transactions value $
-$3,854,808
Form type
4
Date filed
10/24/2022, 05:05 PM
Previous filing
Sep 8, 2022
Next filing
Dec 7, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PANW Common Stock Tax liability -$3.85M -24.1K -1.75% $160.11 1.35M Oct 20, 2022 Direct F1, F2
transaction PANW Common Stock Disposed to Issuer $0 -19.1K -1.41% $0.00 1.33M Oct 20, 2022 Direct F3
holding PANW Common Stock 16K Oct 20, 2022 See footnote F2, F4

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 +19.1K 19.1K Oct 20, 2022 Common Stock 19.1K Direct F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction is not a sale of shares by the Reporting Person. Instead, this represents shares that have been withheld by the Issuer to satisfy its income tax and withholding and remittance obligations in connection with the vesting and net settlement of performance-based restricted stock units.
F2 The number of shares beneficially owned reflects the Issuer's 3-for-1 stock split effected September 13, 2022.
F3 In connection with the vesting of previously reported performance-based 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").
F4 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.
F5 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 January 31, 2027.