John Donovan - Jan 12, 2024 Form 4 Insider Report for Palo Alto Networks Inc (PANW)

Role
Director
Signature
/s/ Elizabeth Villalobos, Attorney-in-Fact for John Donovan
Stock symbol
PANW
Transactions as of
Jan 12, 2024
Transactions value $
-$4,983,475
Form type
4
Date filed
1/16/2024, 05:23 PM
Previous filing
Jan 10, 2024
Next filing
Feb 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PANW Common Stock Sale -$1.16M -3.5K -5.72% $330.05 57.7K Jan 12, 2024 See footnote F1, F2, F3
transaction PANW Common Stock Sale -$1.16M -3.5K -9.5% $330.00 33.4K Jan 12, 2024 See footnote F1, F4, F5
transaction PANW Common Stock Sale -$1.68M -5.1K -8.84% $330.05 52.6K Jan 16, 2024 See footnote F1, F3, F6
transaction PANW Common Stock Sale -$990K -3K -8.99% $330.01 30.4K Jan 16, 2024 See footnote F1, F5, F7
holding PANW Common Stock 6.44K Jan 12, 2024 See footnote F8
holding PANW Common Stock 4.74K Jan 12, 2024 Direct
* 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 October 8, 2023.
F2 This sale price represents the weighted average sale price of the shares sold ranging from $330.00 to $330.12 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 Shares held by The Donovan Family Living Trust U/A DTD 09/28/2012, for which the Reporting Person serves as co-trustee. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
F4 This sale price represents the weighted average sale price of the shares sold ranging from $330.00 to $330.09 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.
F5 Shares held by SRJ Norway II Partners LP, for which the Reporting Person serves as general partner. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
F6 This sale price represents the weighted average sale price of the shares sold ranging from $330.00 to $330.26 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 $330.00 to $330.06 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 held by SRJ Norway Partners LP, for which the Reporting Person serves as general partner. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.