Palo Alto Networks insider files Form 144 to sell 300k shares via J.P. Morgan

Rhea-AI Filing Summary

Palo Alto Networks (PANW) Form 144 summary: An insider proposes to sell 300,000 shares of common stock through J.P. Morgan Securities, with an approximate aggregate market value of $61,086,000, planned for 10/01/2025 on NASDAQ. The shares were originally acquired as founder shares by Nir Zuk on 03/07/2005. The filing shows prior sales by the Hawk Family Trust of 100,000 shares on 08/01/2025 and 100,000 shares on 09/02/2025, each generating gross proceeds of $17,280,459. The filing includes the required representation that the seller does not possess undisclosed material adverse information.

Positive

• None.

Negative

• Form 144 discloses a proposed sale of 300,000 PANW shares with an aggregate market value of $61,086,000 planned for 10/01/2025.
• The filing shows two recent sales by the Hawk Family Trust totaling 200,000 shares (100,000 on 08/01/2025 and 100,000 on 09/02/2025) with gross proceeds of $17,280,459 each.

Insights

Securities Analyst

TL;DR: Insider founder plans to sell 300,000 PANW shares (~$61.1M) on 10/01/2025; prior trust sales totaled 200,000 shares.

This Form 144 documents a proposed sale of 300,000 Palo Alto Networks common shares via J.P. Morgan Securities with an aggregate market value reported at $61,086,000. The seller acquired the shares as founder shares on 03/07/2005. The filing also reports two recent sales by the Hawk Family Trust totaling 200,000 shares in August and September 2025, each yielding $17,280,459. The proposed sale size represents a small fraction of the reported 668,900,000 outstanding shares, but the dollar value is material on an absolute basis. The filing is procedural under Rule 144 and includes the standard attestation regarding material nonpublic information.

Corporate Governance Specialist

TL;DR: Form 144 discloses founder-originated shares offered for sale and recent trust dispositions; filing fulfills Rule 144 notice requirements.

The document indicates the shares were originally issued to an identified founder in 2005 and are being sold through an institutional broker on an indicated date. It also records two recent trust sales with stated gross proceeds. The filing contains the required seller representation about the absence of undisclosed material adverse information. This is a routine regulatory disclosure enabling public sale under Rule 144 rather than a corporate action or amendment to company governance documents.

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	J.P. Morgan Securities LLC 390 Madison Avenue 6th Floor New York NY 10017	300000	61086000	668900000	10/01/2025	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	03/07/2005	Shares acquired as founder shares by Nir Zuk from the issuer	Issuer			300000	03/07/2005	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
Hawk Family Trust Care of Palo Alto Networks Inc 3000 Tannery Way Santa Clara CA 95054	Common	08/01/2025	100000	17280459
Hawk Family Trust Care of Palo Alto Networks Inc 3000 Tannery Way Santa Clara CA 95054	Common	09/02/2025	100000	17280459

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 does Palo Alto Networks' (PANW) Form 144 filed here report?

The filing reports a proposed sale of 300,000 common shares through J.P. Morgan Securities with an aggregate market value of $61,086,000, planned for 10/01/2025 on NASDAQ.

Who originally acquired the shares to be sold according to the filing?

The shares were acquired as founder shares by Nir Zuk on 03/07/2005.

Have any PANW shares been sold recently by related parties?

Yes. The Hawk Family Trust sold 100,000 shares on 08/01/2025 and 100,000 shares on 09/02/2025, each with gross proceeds of $17,280,459.

How many PANW shares are outstanding per the filing?

The filing reports 668,900,000 shares outstanding.

Through which broker will the proposed sale be executed?

The proposed sale is to be executed through J.P. Morgan Securities LLC.