Lee Klarich - Jul 3, 2023 Form 4 Insider Report for Palo Alto Networks Inc (PANW)

Role
EVP, Chief Product Officer
Signature
/s/ Elizabeth Villalobos, Attorney-in-Fact for Lee Klarich
Stock symbol
PANW
Transactions as of
Jul 3, 2023
Transactions value $
-$8,531,243
Form type
4
Date filed
7/6/2023, 04:36 PM
Previous filing
Jun 6, 2023
Next filing
Aug 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PANW Common Stock Options Exercise $2.9M +45K +24.3% $64.50 230K Jul 3, 2023 Direct
transaction PANW Common Stock Sale -$2.18M -8.6K -3.74% $253.14 222K Jul 3, 2023 Direct F1, F2
transaction PANW Common Stock Sale -$6.32M -24.9K -11.23% $254.06 197K Jul 3, 2023 Direct F1, F3
transaction PANW Common Stock Sale -$2.94M -11.5K -5.86% $254.85 185K Jul 3, 2023 Direct F1, F4
holding PANW Common Stock 420K Jul 3, 2023 See footnote F5

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 Stock Option (right to buy) Options Exercise $0 -45K -2.52% $0.00 1.74M Jul 3, 2023 Common Stock 45K $64.50 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 20, 2022.
F2 This sale price represents the weighted average sale price of the shares sold ranging from $252.54 to $253.53 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F3 This sale price represents the weighted average sale price of the shares sold ranging from $253.54 to $254.535 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F4 This sale price represents the weighted average sale price of the shares sold ranging from $254.54 to $255.385 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F5 Shares are held by the Lee and Susan Klarich 2005 Trust dtd 12/05/2005 (the "Trust"), for which the Reporting Person and his spouse serve as trustees. Although previously reported in the total shares held directly by the Reporting Person, these shares are held indirectly through the Trust.
F6 The shares subject to the option are fully vested and exercisable.