William D. Jenkins Jr. - 20 Nov 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.
Issuer symbol
PANW
Transactions as of
20 Nov 2023
Net transactions value
-$519,727
Form type
4
Filing time
21 Nov 2023, 16:22:26 UTC
Previous filing
07 Nov 2023
Next filing
21 Feb 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PANW Common Stock Sale $50,054 -200 -0.54% $250.27 37,152 20 Nov 2023 Direct F1, F2
transaction PANW Common Stock Sale $25,227 -100 -0.27% $252.27 37,052 20 Nov 2023 Direct F1
transaction PANW Common Stock Sale $25,350 -100 -0.27% $253.50 36,952 20 Nov 2023 Direct F1
transaction PANW Common Stock Sale $50,943 -200 -0.54% $254.72 36,752 20 Nov 2023 Direct F1, F3
transaction PANW Common Stock Sale $35,595 -139 -0.38% $256.08 36,613 20 Nov 2023 Direct F1, F4
transaction PANW Common Stock Sale $129,293 -500 -1.4% $258.59 36,113 20 Nov 2023 Direct F1, F5
transaction PANW Common Stock Sale $177,157 -681 -1.9% $260.14 35,432 20 Nov 2023 Direct F1, F6
transaction PANW Common Stock Sale $26,108 -100 -0.28% $261.08 35,332 20 Nov 2023 Direct F1
transaction PANW Common Stock Disposed to Issuer $0 -3,825 -11% $0.000000 31,507 20 Nov 2023 Direct F7

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 +3,825 +2.9% 136,413 20 Nov 2023 Common Stock 3,825 Direct F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 May 26, 2023.
F2 This sale price represents the weighted average sale price of the shares sold ranging from $250.05 to $250.49 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 $254.62 to $254.81 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 $255.67 to $256.24 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 $258.21 to $259.15 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 This sale price represents the weighted average sale price of the shares sold ranging from $259.71 to $260.56 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.
F7 In connection with the vesting of 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").
F8 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.