Palo Alto Networks Insider Notice: 5,000 Shares via Morgan Stanley ($1.04M)

Rhea-AI Filing Summary

Palo Alto Networks Inc (PANW): This Form 144 notifies the proposed sale of 5,000 common shares through Morgan Stanley Smith Barney LLC on 09/23/2025 with an aggregate market value of $1,040,900.00. The filing states the shares originated from awards granted on 09/20/2024: 808 Restricted Stock Units and 4,192 Performance Stock Units, both issued by the company, with no cash payment required at acquisition. The filer reports no securities sold in the past three months and affirms no undisclosed material adverse information.

Insights

Securities Analyst

TL;DR: Routine Form 144 reporting a small insider sale relative to outstanding shares; no prior recent sales reported.

The notice documents a proposed sale of 5,000 common shares valued at $1.04 million to be executed via Morgan Stanley Smith Barney LLC. The underlying shares were from equity awards granted on 09/20/2024 (808 RSUs and 4,192 PSUs). Given the issuer's stated outstanding share count of 668,900,000, this volume is negligible on a percentage basis and appears procedural for regulatory compliance. The filer also affirms absence of undisclosed material adverse information, and there were no reported sales in the prior three months.

Corporate Governance Expert

TL;DR: Standard insider sale disclosure under Rule 144; documentation of award origin and broker details is complete.

The filing includes required elements: broker name and address, acquisition dates and types (RSUs and PSUs dated 09/20/2024), aggregate market value, and representation regarding material nonpublic information. The explicit statement of no securities sold in the prior three months simplifies aggregation considerations under Rule 144. This appears to be a compliant notice rather than an indication of governance or compliance concern.

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

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

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

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	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	5000	1040900.00	668900000	09/23/2025	NASDAQ

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	09/20/2024	Restricted Stock Units	Issuer			808	09/20/2024	N/A
Common	09/20/2024	Performance Stock Units	Issuer			4192	09/20/2024	N/A

* 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

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What shares does the PANW Form 144 propose to sell?

The notice proposes the sale of 5,000 common shares of Palo Alto Networks.

When is the approximate sale date listed in the Form 144 for PANW?

The form lists an approximate sale date of 09/23/2025.

What is the aggregate market value of the shares to be sold according to the filing?

The aggregate market value is reported as $1,040,900.00.

How were the securities acquired that are being sold in this Form 144?

The securities were acquired on 09/20/2024 as equity awards: 808 RSUs and 4,192 PSUs, issued by the company.

Which broker is named to execute the sale in the filing?

The broker listed is Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004.