Lee Klarich - 22 May 2026 Form 4 Insider Report for Palo Alto Networks Inc (PANW)

Reporting relationship: EVP Chief Product & Tech Ofcr, Director
Issuer ticker: PANW
Reported as of: 22 May 2026
Net transaction value: -$16,270,352
SEC form: 4
Accepted by SEC: 27 May 2026, 16:30:06 UTC
Prior SEC filing: 17 Feb 2026
Source filing: View source filing
Reporting owner signature: /s/ Sarah Tian, Attorney-in-Fact for Lee Klarich

Key filing fact

Lee Klarich filed Form 4 for Palo Alto Networks Inc (PANW) on 27 May 2026.

Key facts

This page summarizes Lee Klarich's Form 4 filing for Palo Alto Networks Inc (PANW).
12 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 27 May 2026, 16:30.

Change

Previous filing in this sequence was filed on 17 Feb 2026.
Current net transaction value: -$16,270,352.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001682260 Primary reporting owner

Klarich Lee

Relationship: EVP Chief Product & Tech Ofcr, Director
Address: C/O PALO ALTO NETWORKS INC., 3000 TANNERY WAY, SANTA CLARA
Signature: /s/ Sarah Tian, Attorney-in-Fact for Lee Klarich
Signature date: 27 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

PANW transaction

Common Stock

Sale

Transaction value: $135,767
Shares: -543
Change %: -0.18%
Price: $250.03
Shares after: 298,344
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F2

PANW transaction

Common Stock

Sale

Transaction value: $130,371
Shares: -519
Change %: -0.17%
Price: $251.20
Shares after: 297,825
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F3

PANW transaction

Common Stock

Sale

Transaction value: $146,631
Shares: -582
Change %: -0.2%
Price: $251.94
Shares after: 297,243
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F4

PANW transaction

Common Stock

Sale

Transaction value: $81,040
Shares: -320
Change %: -0.11%
Price: $253.25
Shares after: 296,923
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F5

PANW transaction

Common Stock

Sale

Transaction value: $1,071,636
Shares: -4,205
Change %: -1.4%
Price: $254.85
Shares after: 292,718
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F6

PANW transaction

Common Stock

Sale

Transaction value: $1,199,711
Shares: -4,694
Change %: -1.6%
Price: $255.58
Shares after: 288,024
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F7

PANW transaction

Common Stock

Sale

Transaction value: $737,716
Shares: -2,875
Change %: -1%
Price: $256.60
Shares after: 285,149
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F8

PANW transaction

Common Stock

Sale

Transaction value: $746,363
Shares: -2,897
Change %: -1%
Price: $257.63
Shares after: 282,252
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F9

PANW transaction

Common Stock

Sale

Transaction value: $2,694,143
Shares: -10,414
Change %: -3.7%
Price: $258.70
Shares after: 271,838
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F10

PANW transaction

Common Stock

Sale

Transaction value: $4,690,500
Shares: -18,067
Change %: -6.6%
Price: $259.62
Shares after: 253,771
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F11

PANW transaction

Common Stock

Sale

Transaction value: $4,395,339
Shares: -16,865
Change %: -6.6%
Price: $260.62
Shares after: 236,906
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F12

PANW transaction

Common Stock

Sale

Transaction value: $241,134
Shares: -923
Change %: -0.39%
Price: $261.25
Shares after: 235,983
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F13

PANW holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 640,070
Date: 22 May 2026
Ownership: See footnote
Footnotes: F14

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 14 footnotes

Footnote 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 11, 2025.

Footnote F2

This sale price represents the weighted average sale price of the shares sold ranging from $249.74 to $250.685 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.

Footnote F3

This sale price represents the weighted average sale price of the shares sold ranging from $250.79 to $251.57 per share. Upon request by the Commission staff, the Issuer, or a security holder of the 1Issuer, 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.

Footnote F4

This sale price represents the weighted average sale price of the shares sold ranging from $251.815 to $252.55 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.

Footnote F5

This sale price represents the weighted average sale price of the shares sold ranging from $252.88 to $253.81 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.

Footnote F6

This sale price represents the weighted average sale price of the shares sold ranging from $254.10 to $255.09 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.

Footnote F7

This sale price represents the weighted average sale price of the shares sold ranging from $255.11 to $256.085 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.

Footnote F8

This sale price represents the weighted average sale price of the shares sold ranging from $256.11 to $257.09 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.

Footnote F9

This sale price represents the weighted average sale price of the shares sold ranging from $257.15 to $258.11 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.

Footnote F10

This sale price represents the weighted average sale price of the shares sold ranging from $258.155 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.

Footnote F11

This sale price represents the weighted average sale price of the shares sold ranging from $259.155 to $260.15 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.

Footnote F12

This sale price represents the weighted average sale price of the shares sold ranging from $260.16 to $261.15 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.

Footnote F13

This sale price represents the weighted average sale price of the shares sold ranging from $261.16 to $261.395 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.

Footnote F14

Shares are held by the Lee and Susan Klarich 2005 Trust, dated Dec. 5, 2005, for which the Reporting Person and his spouse serve as trustees.