Palo Alto Networks: Foundation proposes $23.9M sale

The 60,000 shares are described as compensation-related restricted stock units acquired from the issuer on October 17, 2013.

Rhea-AI Filing Summary

Palo Alto Networks Inc. (PANW) is named as issuer for a proposed sale of 60,000 common shares, with an aggregate market value of $23.91 million and an approximate sale date of October 8, 2026. Lee Klarich is identified as an officer and the person for whose account the securities are to be sold; the sale is attributed to Boost Giving Foundation, a charitable 501(c)(3) organization he founded and whose investment decisions he controls.

Key Figures

Common shares to be sold: 60,000 shares Aggregate market value: $23.91 million Shares outstanding: 818 million shares

3 metrics

Common shares to be sold 60,000 shares Proposed sale

Aggregate market value $23.91 million For the 60,000 common shares

Shares outstanding 818 million shares Reported in the securities information

Key Terms

Rule 144, Restricted Stock Units, 501(c)(3)

3 terms

Rule 144 regulatory

"paragraph (a) of Rule 144"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Restricted Stock Units financial

"Acquired as compensation -- Restricted Stock Units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

501(c)(3) regulatory

"charitable 501(c)(3) organization"

A 501(c)(3) is a U.S. federal tax designation for organizations organized and operated for charitable, educational, religious, scientific or literary purposes, which exempts them from federal income tax and generally makes donations to them tax-deductible. Investors pay attention because the designation shapes how the organization raises money, what activities it can legally pursue (for example, limits on political lobbying), and how transparent and financially stable it must be—factors that affect risk, reputation, and potential partnerships.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many PANW shares are covered by the proposed sale?

The proposed sale covers 60,000 common shares, with an aggregate market value of $23.91 million and an approximate sale date of October 8, 2026.

Who is selling the shares in the PANW notice?

Lee Klarich is identified as an officer and the person for whose account the securities are to be sold; the sale is attributed to Boost Giving Foundation, a charitable 501(c)(3) organization founded by Klarich, who controls its investment decisions.

How were the shares in the PANW sale acquired?

The 60,000 common shares were acquired from the issuer on October 17, 2013, as compensation through restricted stock units.

Which broker is listed for the PANW share sale?

Goldman Sachs & Co. LLC is listed as the broker for the proposed sale.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/08/2026 - 05:48 PM Accepted by SEC EDGAR 10/08/2026 - 05:48 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001682260
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Palo Alto Networks, Inc.
SEC File Number	001-35594
Address of Issuer	3000 Tannery Way Santa Clara CALIFORNIA 95054
Phone	1-408-753-4000
Name of Person for Whose Account the Securities are To Be Sold	Lee Klarich
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	60000	23910000	818000000	10/08/2026	NASD

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	10/17/2013	Acquired as compensation -- Restricted Stock Units	Issuer			60000	10/17/2013	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks	The sale of shares reported herein was made by the Boost Giving Foundation, a charitable 501(c)(3) organization founded by Lee Klarich, and of which Mr. Klarich controls investment decisions.
Date of Notice	10/08/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	Goldman Sachs & Co. LLC on behalf of Lee Klarich
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)