Nikesh Arora - Jul 1, 2024 Form 4 Insider Report for Palo Alto Networks Inc (PANW)

Signature
/s/ Elizabeth Villalobos, Attorney-in-Fact for Nikesh Arora
Stock symbol
PANW
Transactions as of
Jul 1, 2024
Transactions value $
-$18,024,930
Form type
4
Date filed
7/3/2024, 04:00 PM
Previous filing
Jun 11, 2024
Next filing
Jul 23, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PANW Common Stock Options Exercise $4.41M +66.7K +9.6% $66.17* 761K Jul 1, 2024 Direct
transaction PANW Common Stock Sale -$4.19M -12.5K -1.65% $333.69 748K Jul 1, 2024 Direct F1, F2
transaction PANW Common Stock Sale -$4.2M -12.6K -1.68% $334.50 736K Jul 1, 2024 Direct F1, F3
transaction PANW Common Stock Sale -$3.27M -9.75K -1.33% $335.68 726K Jul 1, 2024 Direct F1, F4
transaction PANW Common Stock Sale -$2.98M -8.85K -1.22% $336.52 717K Jul 1, 2024 Direct F1, F5
transaction PANW Common Stock Sale -$2.23M -6.59K -0.92% $338.09 711K Jul 1, 2024 Direct F1, F6
transaction PANW Common Stock Sale -$2.21M -6.5K -0.91% $339.60 704K Jul 1, 2024 Direct F1, F7
transaction PANW Common Stock Sale -$3.37M -9.89K -1.4% $340.54 694K Jul 1, 2024 Direct F1, F8
holding PANW Common Stock 16K Jul 1, 2024 See footnote F9

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 Stock Option (right to buy) Options Exercise $0 -66.7K -2.73% $0.00 2.38M Jul 1, 2024 Common Stock 66.7K $66.17 Direct F10
* 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 that became effective March 27, 2024.
F2 This sale price represents the weighted average sale price of the shares sold ranging from $333.04 to $334.03 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 $334.045 to $335.01 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 $335.11 to $336.10 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 $336.11 to $337.10 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 $337.125 to $339.105 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 $339.125 to $340.11 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.
F8 This sale price represents the weighted average sale price of the shares sold ranging from $340.13 to $341.11 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.
F9 Shares are held by Bacchey Investments L.P., of which Bacchey Management LLC (the "LLC") is the General Partner. The Reporting Person is the manager of the LLC. The sole member of the LLC is the Aurora Trust, for which the Reporting Person serves as a trustee.
F10 The shares subject to the option are fully vested and exercisable.