Palo Alto Networks Trust Proposes $295K Share Sale

The notice lists an approximate sale date of September 24, 2026, and an aggregate market value of $294,975.

Available on EDGAR 09/24/2026 - 07:31 PM EDT Accepted by SEC EDGAR 09/24/2026 - 07:30 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Palo Alto Networks, Inc. (PANW) is the issuer named in a Rule 144 notice for a proposed sale of 750 common shares for the account of Aparna Bawa, identified as an affiliate. The notice lists an aggregate market value of $294,975 and an approximate sale date of September 24, 2026. Its remarks identify The Bawa Family Trust as the seller, with Bawa as trustee; J.P. Morgan Securities LLC is listed as broker. The notice also reports prior trust sales, including 28 shares for $10,561.04 on September 15, 2026, and 472 shares for $178,028.96 on that date.

Key Figures

Common shares to be sold: 750 shares Aggregate market value: $294,975 Common shares outstanding: 818,000,000 shares +4 more

7 metrics

Common shares to be sold 750 shares Proposed sale

Aggregate market value $294,975 Proposed sale

Common shares outstanding 818,000,000 shares Count listed in the securities information

Prior shares sold 28 shares The Bawa Family Trust, September 15, 2026

Prior sale value $10,561.04 The Bawa Family Trust, September 15, 2026

Prior shares sold 472 shares The Bawa Family Trust, September 15, 2026

Prior sale value $178,028.96 The Bawa Family Trust, September 15, 2026

Key Terms

Rule 144, RSU award, attorney-in-fact

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.

RSU award financial

"acquired the shares via RSU award"

attorney-in-fact regulatory

"agent and attorney-in-fact for Aparna Bawa"

An attorney-in-fact is the person or entity given legal authority through a power of attorney to act on behalf of another for specific tasks, such as signing documents, voting shares, or handling transactions. For investors, this matters because it lets a trusted representative make timely decisions or complete paperwork when the owner cannot, much like handing keys to someone to run errands on your behalf—so checks on scope and limits of that authority are important.

FAQ

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

How many PANW shares does Aparna Bawa plan to sell?

The notice covers 750 common shares, with an aggregate market value of $294,975 and an approximate sale date of September 24, 2026. J.P. Morgan Securities LLC is listed as broker.

Who is selling the PANW shares?

The Bawa Family Trust is identified as the seller, with Aparna Bawa as trustee. Bawa is listed as the person for whose account the securities are to be sold and is identified as an affiliate.

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

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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	0001773301
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	408-753-4000
Name of Person for Whose Account the Securities are To Be Sold	Aparna Bawa
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	Affiliate

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	J.P. Morgan Securities LLC 270 Park Avenue 10th Floor New York NY 10017	750	294975	818000000	09/24/2026	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	09/01/2024	Transfer	Aparna Bawa who acquired the shares via RSU award from the issuer on 09/01/25			107	09/01/2024	N/A
Common	03/01/2025	Transfer	Aparna Bawa who acquired the shares via RSU award from the issuer on 09/01/24			643	03/01/2025	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
Bawa Family Trust Care of Palo Alto Networks, Inc. 3000 Tannery Way Santa Clara CA 95054	Common	09/15/2026	28	10561.04
Bawa Family Trust Care of Palo Alto Networks, Inc. 3000 Tannery Way Santa Clara CA 95054	Common	09/15/2026	472	178028.96
Bawa Family Trust Care of Palo Alto Networks, Inc. 3000 Tannery Way Santa Clara CA 95054	Common	09/14/2026	540	201746.7
Bawa Family Trust Care of Palo Alto Networks, Inc. 3000 Tannery Way Santa Clara CA 95054	Common	09/14/2026	460	171858.30
Bawa Family Trust Care of Palo Alto Networks, Inc. 3000 Tannery Way Santa Clara CA 95054	Common	06/22/2026	345	100086.54
Bawa Family Trust Care of Palo Alto Networks, Inc. 3000 Tannery Way Santa Clara CA 95054	Common	06/29/2026	632	201355.05
Bawa Family Trust Care of Palo Alto Networks, Inc. 3000 Tannery Way Santa Clara CA 95054	Common	07/01/2026	290	101115.11

144: Remarks and Signature

Remarks	The shares represented on this filing are being sold by The Bawa Family Trust, Aparna Bawa as Trustee.
Date of Notice	09/24/2026
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	/s/ J.P. Morgan Securities LLC as agent and attorney-in-fact for Aparna Bawa
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)