Palo Alto Networks (PANW) accounting chief sells 1,700 shares under 10b5-1 plan

Rhea-AI Filing Summary

Palo Alto Networks Chief Accounting Officer Josh D. Paul reported an open-market sale of 1,700 shares of common stock at a price of $147.90 per share. After this planned transaction, he continued to hold 58,814 shares, which include stock acquired through the company’s Employee Stock Purchase Plan.

The sale was executed under a Rule 10b5-1 trading plan that he adopted on September 17, 2025, indicating the sale was pre-arranged rather than a discretionary market-timing decision. This filing simply records the insider’s programmed share sale and updated ownership position.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Paul Josh D.

(Last) (First) (Middle)

C/O PALO ALTO NETWORKS INC.

3000 TANNERY WAY

(Street)

SANTA CLARA CA 95054

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Palo Alto Networks Inc [ PANW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/02/2026		S(1)		1,700	D	$147.9	58,814(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 17, 2025.

2. Includes shares acquired by the Reporting Person pursuant to the Issuer's Employee Stock Purchase Plan.

	/s/ Elizabeth Villalobos, Attorney-in-Fact for Josh D. Paul	03/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Palo Alto Networks (PANW) report for Josh D. Paul?

Palo Alto Networks reported that Chief Accounting Officer Josh D. Paul sold 1,700 shares of common stock at $147.90 per share. This Form 4 filing records the open-market sale and updates his remaining ownership position in the company’s stock.

How many Palo Alto Networks (PANW) shares does Josh D. Paul hold after this sale?

After the transaction, Josh D. Paul beneficially owns 58,814 Palo Alto Networks shares. This total includes shares previously acquired through the company’s Employee Stock Purchase Plan, as noted in the Form 4 footnotes accompanying the reported insider sale.

Was the Palo Alto Networks (PANW) insider sale by Josh D. Paul pre-planned?

Yes. The sale was carried out under a Rule 10b5-1 trading plan adopted on September 17, 2025. Such plans allow insiders to schedule sales in advance, helping separate trading decisions from day-to-day market conditions.

What price did Josh D. Paul receive for his Palo Alto Networks (PANW) share sale?

He sold 1,700 shares of Palo Alto Networks common stock at an average price of $147.90 per share. The Form 4 classifies this as an open-market or private transaction sale of non-derivative common stock by a company officer.

What type of security did Josh D. Paul sell in the Palo Alto Networks (PANW) Form 4?

The transaction involved non-derivative Palo Alto Networks common stock. The Form 4 shows an open-market sale of 1,700 common shares and lists his updated direct ownership of 58,814 common shares following the transaction.