Palo Alto Networks withholds 13,100 shares for taxes

The PSU performance conditions were certified on November 1, 2026, and 13,100 shares were withheld for vesting-related tax requirements.

Available on EDGAR 11/03/2026 - 09:27 PM EST Accepted by SEC EDGAR 11/03/2026 - 09:26 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Palo Alto Networks Inc Chief Accounting Officer Josh D. Paul reported an award of 26,421 performance-based restricted stock units, originally granted August 21, 2023. On November 1, 2026, the Compensation and People Committee certified achievement of the PSU performance conditions. The issuer withheld 13,100 shares to satisfy tax withholding requirements on vesting, at a reported price of $365.87 per share.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Paul Josh D.

Role Chief Accounting Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	26,421	$0.00	$0.00
Tax Withholding	Common Stock F2	13,100	$365.87	$4.79M

Holdings After Transaction: Common Stock — 91,308 shares (Direct)

Footnotes (2)

1. F1. Represents an award of performance-based restricted stock units granted to the Reporting Person on August 21, 2023 ("PSUs"). Effective on November 1, 2026, the Issuer's Compensation and People Committee certified the achievement of the performance conditions for the PSUs.
2. F2. Represents shares withheld by the Issuer to satisfy tax withholding requirements on vesting of PSUs.

Key Figures

Performance-based restricted stock units awarded: 26,421 units Shares withheld for tax withholding: 13,100 shares Reported price per share: $365.87 per share

3 metrics

Performance-based restricted stock units awarded 26,421 units Originally granted August 21, 2023

Shares withheld for tax withholding 13,100 shares On vesting

Reported price per share $365.87 per share Shares withheld to satisfy tax withholding requirements

Key Terms

performance-based restricted stock units, tax withholding requirements, performance conditions

3 terms

performance-based restricted stock units financial

"award of performance-based restricted stock units"

Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.

tax withholding requirements financial

"satisfy tax withholding requirements on vesting"

performance conditions technical

"certified the achievement of the performance conditions for the PSUs"

FAQ

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

How many PANW performance-based restricted stock units were awarded?

Josh D. Paul reported an award of 26,421 performance-based restricted stock units, originally granted August 21, 2023.

How many PANW shares were withheld for taxes, and at what price?

The issuer withheld 13,100 shares to satisfy tax withholding requirements on vesting, at a reported price of $365.87 per share.

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

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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
Estimated average burden
hours per response:			0.5

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

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 CALIFORNIA 95054

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/01/2026

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

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

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

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	11/01/2026		A		26,421(1)	A	$0	104,408	D
Common Stock	11/01/2026		F(2)		13,100	D	$365.87	91,308	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. Represents an award of performance-based restricted stock units granted to the Reporting Person on August 21, 2023 ("PSUs"). Effective on November 1, 2026, the Issuer's Compensation and People Committee certified the achievement of the performance conditions for the PSUs.

2. Represents shares withheld by the Issuer to satisfy tax withholding requirements on vesting of PSUs.

	/s/ Elizabeth Villalobos, Attorney-in-Fact	11/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)