[144] Palo Alto Networks, Inc. SEC Filing

Rhea-AI Filing Summary

Palo Alto Networks (PANW) notice of proposed sale under Rule 144. The filer intends to sell 2,800 shares of common stock through Morgan Stanley Smith Barney, with an aggregate market value of $516,404.00 based on the filing. The filing reports 666,800,000 shares outstanding and an approximate sale date of 08/21/2025. The securities were reported as acquired as Restricted Stock Units on 08/21/2025, with payment noted the same date. The notice also discloses two prior 10b5-1 sales by the same person: 800 shares on 06/20/2025 for $160,840.00 and 600 shares on 07/01/2025 for $122,400.00. The filer attests to no undisclosed material information.

Insights

Securities Compliance Analyst

TL;DR: Routine insider sale notice under Rule 144 with small share volume relative to outstanding stock.

The Form 144 documents a proposed sale of 2,800 common shares through Morgan Stanley Smith Barney with an indicated aggregate market value of $516,404.00 and an anticipated sale date of 08/21/2025. The securities are listed as Restricted Stock Units acquired on 08/21/2025. The filing also discloses two recent 10b5-1 plan sales (800 and 600 shares) generating $160,840.00 and $122,400.00 respectively. From a compliance viewpoint, the form contains the typical attestations and broker identification required for a Rule 144 notice; it appears procedural rather than materially transformative for investors.

Equity Market Specialist

TL;DR: Transaction size is immaterial to market cap; filing signals standard disposition mechanics, not a corporate event.

The 2,800-share proposed sale represents a de minimis portion of the stated 666,800,000 shares outstanding. The use of a broker and disclosure of recent 10b5-1 sales indicate planned, pre-arranged selling activity. There is no financial performance data, debt, or governance change disclosed. For market impact, this filing is unlikely to move stock price given the small volume relative to total float.

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	2800	516404.00	666800000	08/21/2025	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	08/21/2025	Restricted Stock Units	Issuer			2800	08/21/2025	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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for JOSHUA D PAUL 3000 Tannery Way Santa Clara CA 95054	Common	07/01/2025	600	122400.00
10b5-1 Sales for JOSHUA D PAUL 3000 Tannery Way Santa Clara CA 95054	Common	06/20/2025	800	160840.00

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 filing proposes the sale of 2,800 shares of Palo Alto Networks common stock.

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

The approximate date of sale is listed as 08/21/2025.

Through which broker will the PANW shares be sold?

The broker named is Morgan Stanley Smith Barney LLC, Executive Financial Services, New York.

What was the reported aggregate market value of the shares to be sold?

The aggregate market value reported is $516,404.00.

Were there any recent sales by the same person in the past three months?

Yes. The filing discloses 10b5-1 sales of 800 shares on 06/20/2025 for $160,840.00 and 600 shares on 07/01/2025 for $122,400.00.

How many shares outstanding does the filing list for PANW?

The filing lists 666,800,000 shares outstanding.