Key facts
- This page summarizes Nikesh Arora's Form 4 filing for Palo Alto Networks Inc (PANW).
- 1 reported transaction and 1 derivative row are listed below.
- Accepted by SEC: 14 Oct 2026, 15:10.
Nikesh Arora - 12 Oct 2026 Form 4 Insider Report for Palo Alto Networks Inc (PANW)
- Reporting relationship
- Chief Executive Officer, Director
- Issuer ticker
- PANW
- Reported as of
- 12 Oct 2026
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 14 Oct 2026, 15:10:03 UTC
- Prior SEC filing
- 14 Oct 2026
- Source filing
- View source filing
- Reporting owner signature
- /s/ Elizabeth Villalobos, Attorney-in-Fact for Nikesh Arora
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Filing notes and source
Key filing fact
Nikesh Arora filed Form 4 for Palo Alto Networks Inc (PANW) on 14 Oct 2026.
Change
- Previous filing in this sequence was filed on 14 Oct 2026.
- Current net transaction value: $0.
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
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reporting Owners (1)
CIK 0001468233
Primary reporting owner
Arora Nikesh
- Relationship
- Chief Executive Officer, Director
- Address
- C/O PALO ALTO NETWORKS INC., 3000 TANNERY WAY, SANTA CLARA
- Signature
- /s/ Elizabeth Villalobos, Attorney-in-Fact for Nikesh Arora
- Signature date
- 14 Oct 2026
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
PANW
transaction
Derivative
Variable Prepaid Forward (obligation to sell)
Other
- Transaction value
- Shares
- -500,000
- Change %
- -19%
- Price
- Shares after
- 2,093,369
- Date
- 12 Oct 2026
- Ownership
- See Footnote
- Underlying class
- Common Stock
- Underlying amount
- 500,000
- Exercise price
- Footnotes
- F1, F2, F3, F4, F5
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 5 footnotes
Footnote F1
On October 12, 2026, the Reporting Person executed a prepaid variable share forward contract (the "Contract") under Rule 144 with an unaffiliated dealer on the Common Stock (the "Shares") of Palo Alto Networks, Inc. (the "Issuer"). Pursuant to the Contract, the Reporting Person received an upfront cash payment of approximately $147.3 million in exchange for agreeing to deliver to the dealer up to 500,000 of the Shares (the "Maximum Number of Shares") or an equivalent amount of cash if the Reporting Person elects cash settlement of the Contract. The number of shares to be delivered (or amount of cash to be paid), will be determined based on the closing price per share of the Shares on the valuation date (the "Settlement Price"), but will not exceed the Maximum Number of Shares.
Footnote F2
The number of Shares to be delivered (or equivalent cash) to the dealer at settlement will be determined as follows: (A) if the Settlement Price is less than or equal to $342.38 (the "Floor Price"), the Maximum Number of Shares; (B) if the Settlement Price is less than or equal to $755.25 (the "Cap Price"), but greater than the Floor Price, a variable number of Shares equal to the Maximum Number of Shares multiplied by a fraction, the numerator of which is the Floor Price and the denominator of which is the Settlement Price; and (C) if the Settlement Price is greater than the Cap Price, a number of Shares equal to the product of (i) the Maximum Number of Shares and (ii) a fraction (A) the numerator of which is the sum of (x) the Floor Price and (y) the Settlement Price minus the Cap Price, and (B) the denominator of which is the Settlement Price
Footnote F3
The Contract is expected to be settled in October 2029. Under the Contract, the Reporting Person pledged the Maximum Number of Shares to the dealer (the "Pledged Shares"). The Reporting Person retains beneficial ownership and voting rights of the Pledged Shares unless and until the Reporting Person proceeds to physically settle the Contract or there is an event of default or a termination event under the Contract.
Footnote F4
See Exhibit 99 for an explanatory note discussing the rationale for entering into the Contract, the Reporting Person's equity holdings and tax obligations, and the Issuer's approval of the Contract. Capitalized terms used and not defined in the Exhibit have the meanings set forth in footnotes 1 through 3, as the case may be.
Footnote F5
The Shares are held in the Aurora Trust, for which the Reporting Person serves as a trustee.