Nir Zuk - Dec 1, 2023 Form 4 Insider Report for Palo Alto Networks Inc (PANW)

Signature
/s/ Elizabeth Villalobos, Attorney-in-Fact for Nir Zuk
Stock symbol
PANW
Transactions as of
Dec 1, 2023
Transactions value $
-$10,601,943
Form type
4
Date filed
12/5/2023, 05:13 PM
Previous filing
Nov 3, 2023
Next filing
Jan 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PANW Common Stock Sale -$964K -3.3K -0.22% $292.13 1.51M Dec 1, 2023 Direct F1, F2
transaction PANW Common Stock Sale -$1.64M -5.6K -0.37% $293.05 1.5M Dec 1, 2023 Direct F1, F3
transaction PANW Common Stock Sale -$2.31M -7.87K -0.52% $294.02 1.49M Dec 1, 2023 Direct F1, F4
transaction PANW Common Stock Sale -$2.92M -9.91K -0.66% $295.12 1.48M Dec 1, 2023 Direct F1, F5
transaction PANW Common Stock Sale -$2.58M -8.72K -0.59% $295.90 1.48M Dec 1, 2023 Direct F1, F6
transaction PANW Common Stock Sale -$178K -600 -0.04% $296.64 1.48M Dec 1, 2023 Direct F1, F7
holding PANW Common Stock 275K Dec 1, 2023 See footnote 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 March 14, 2023.
F2 This sale price represents the weighted average sale price of the shares sold ranging from $291.52 to $292.50 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 $292.53 to $293.49 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.
F4 This sale price represents the weighted average sale price of the shares sold ranging from $293.55 to $294.53 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.
F5 This sale price represents the weighted average sale price of the shares sold ranging from $294.55 to $295.54 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 $295.56 to $296.55 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 This sale price represents the weighted average sale price of the shares sold ranging from $296.56 to $296.74 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.
F8 Shares are held by the Cliff Family Trusts for the benefit of the Reporting Person's children.