Lee Klarich - Sep 1, 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
Sep 1, 2023
Transactions value $
-$7,988,968
Form type
4
Date filed
9/1/2023, 07:36 PM
Previous filing
Aug 8, 2023
Next filing
Oct 3, 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 +25.39% $64.50 222K Sep 1, 2023 Direct
transaction PANW Common Stock Sale -$2.96M -12.3K -5.54% $241.02 210K Sep 1, 2023 Direct F1, F2
transaction PANW Common Stock Sale -$5.11M -21.1K -10.05% $242.09 189K Sep 1, 2023 Direct F1, F3
transaction PANW Common Stock Sale -$2.5M -10.3K -5.46% $242.92 179K Sep 1, 2023 Direct F1, F4
transaction PANW Common Stock Sale -$317K -1.3K -0.73% $243.83 177K Sep 1, 2023 Direct F1, F5
holding PANW Common Stock 420K Sep 1, 2023 See footnote F6

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 -2.65% $0.00 1.65M Sep 1, 2023 Common Stock 45K $64.50 Direct F7
* 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 $240.52 to $241.51 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 $241.52 to $242.515 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 $242.53 to $243.45 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 This sale price represents the weighted average sale price of the shares sold ranging from $243.645 to $244.285 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.
F6 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.
F7 The shares subject to the option are fully vested and exercisable.