William D. Jenkins Jr - Oct 18, 2023 Form 4 Insider Report for Palo Alto Networks Inc (PANW)

Role
President
Signature
/s/ Elizabeth Villalobos, Attorney-in-Fact for William D. Jenkins, Jr.
Stock symbol
PANW
Transactions as of
Oct 18, 2023
Transactions value $
$0
Form type
4
Date filed
10/23/2023, 05:40 PM
Previous filing
Sep 8, 2023
Next filing
Nov 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PANW Common Stock Award $0 +61.5K +164.74% $0.00 98.9K Oct 18, 2023 Direct F1
transaction PANW Common Stock Disposed to Issuer $0 -61.5K -62.23% $0.00 37.4K Oct 20, 2023 Direct F2

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 +61.5K +86.6% 133K Oct 20, 2023 Common Stock 61.5K Direct F2, F3
* 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 acquired represents the achievement of performance conditions, as certified by the Issuer's Compensation Committee on October 18, 2023, with respect to PSUs granted to the Reporting Person on August 20, 2021. The PSUs vest on October 20, 2023, subject to the Reporting Person continuing to be a Service Provider through that vesting date.
F2 In connection with the vesting of the PSUs reported in the transaction line above, the Reporting Person elected to defer these shares pursuant to the Palo Alto Networks, Inc. Deferred Compensation Plan (the "Deferred Compensation Plan").
F3 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 or about January 31, 2027.