Palo Alto Networks adds $1B share buyback plan

Palo Alto Networks, Inc. authorized an additional $1.0 billion share repurchase program, increasing its total buyback authorization from $4.1 billion.

Rhea-AI Filing Summary

Palo Alto Networks, Inc. authorized an additional $1.0 billion share repurchase program, increasing its total buyback authorization from $4.1 billion. The earlier authorization was fully used, with $0.0 million remaining as of March 6, 2026. The company repurchased $1.0 billion of stock between February 20 and 24, 2026, buying approximately 6.8 million shares at an average price of $147.69 per share. The new authorization, funded from working capital, runs through December 31, 2026 and permits opportunistic open-market and privately negotiated transactions. Shares outstanding were about 811 million as of March 6, 2026.

Insights

Equity Capital Markets Analyst

New $1.0B buyback extends Palo Alto Networks' capital return.

Palo Alto Networks approved an additional $1.0 billion share repurchase authorization after fully utilizing a prior $4.1 billion program. It recently bought $1.0 billion of stock, about 6.8 million shares, at an average price of $147.69 per share.

Repurchases funded from working capital can gradually reduce the share count, supporting per-share metrics when underlying performance is stable. The authorization allows flexible execution through open-market trades, private deals, block purchases and 10b5-1 plans at management’s discretion.

The program runs through December 31, 2026 and can be suspended or discontinued, so actual impact depends on how much of the $1.0 billion capacity is used over time versus other corporate cash needs.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

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

What new share repurchase authorization did Palo Alto Networks (PANW) approve?

Palo Alto Networks approved a new share repurchase authorization of up to $1.0 billion of its common stock. This extends its capital return program after fully using a prior $4.1 billion authorization, giving management flexibility to buy back shares through December 31, 2026.

How much stock did Palo Alto Networks (PANW) recently repurchase and at what price?

The company repurchased $1.0 billion of common stock between February 20 and 24, 2026. It bought approximately 6.8 million shares on the open market at an average price of $147.69 per share, using capacity from its prior $4.1 billion authorization.

When does Palo Alto Networks’ new $1.0B buyback authorization expire?

The new $1.0 billion share repurchase authorization for Palo Alto Networks runs through December 31, 2026. The company can repurchase shares opportunistically during this period and may suspend or discontinue the program at any time without prior notice, depending on corporate and market conditions.

How many Palo Alto Networks (PANW) shares were outstanding as of March 6, 2026?

Palo Alto Networks reported approximately 811 million shares of common stock outstanding as of March 6, 2026. This figure provides context for the scale of its repurchase activity and the potential effect of the new $1.0 billion buyback authorization on its overall share count.

How will Palo Alto Networks fund its new $1.0B share repurchase program?

The company plans to fund the additional $1.0 billion share repurchase authorization from available working capital. This approach uses existing balance sheet resources rather than specifying new external financing, while leaving flexibility for open-market, private, block, or 10b5-1 plan transactions.

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

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Accepted by SEC EDGAR 03/11/2026 - 04:10 PM Learn about SEC filing dates

0001327567false00013275672026-03-102026-03-10

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

March 10, 2026

 _____________________

PALO ALTO NETWORKS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware			001-35594			20-2530195
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)

3000 Tannery Way

Santa Clara, California 95054

(Address of principal executive office, including zip code)

(408) 753-4000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, $0.0001 par value per share

PANW

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 8.01 Other Events.

On March 10, 2026, the Board of Directors of Palo Alto Networks, Inc. (the “Company”) approved the repurchase of up to an additional $1.0 billion of the Company’s common stock. This authorization is an increase to the existing $4.1 billion repurchase authorization, which was originally approved by the Company’s Board of Directors in February 2019 and extended in December 2020, August 2021, August 2022, November 2023, August 2024, and November 2025, of which $0.0 million remained available as of March 6, 2026. The Company repurchased $1.0 billion of its common stock on the open market during February 20 and February 24, 2026, totaling approximately 6.8 million shares at an average price of $147.69 per share. The authorization allows the Company to repurchase shares of its common stock opportunistically and will be funded from available working capital. Repurchases may be made at management’s discretion from time to time in open market purchases, privately negotiated transactions, block purchase techniques, 10b5-1 trading plans, or a combination of the foregoing. The repurchase authorization period will expire on December 31, 2026 and may be suspended or discontinued by the Company at any time without prior notice. The Company had approximately 811 million shares of common stock outstanding as of March 6, 2026.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.			Description of Exhibit
104			Cover Page Interactive Data File (formatted as Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			PALO ALTO NETWORKS, INC.
By:			/s/ BRUCE BYRD
			Bruce Byrd
			Executive Vice President and General Counsel

Date: March 11, 2026

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 22.2 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.8 KB