Palo Alto Networks director-linked trust sells 345 shares

Palo Alto Networks director Aparna Bawa reported an open-market sale of company stock through an associated trust.

Accepted by SEC EDGAR 06/22/2026 - 07:09 PM EDT

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Form Type

Rhea-AI Filing Summary

Palo Alto Networks director Aparna Bawa reported an open-market sale of company stock through an associated trust. The Bawa Family Trust sold 345 shares of common stock at a weighted average price of about $290.171 per share. After this transaction, the trust holds 7,359 shares of Palo Alto Networks stock, while Bawa also holds 1,644 shares directly. The sale price reflects multiple trades between $290.005 and $290.24 per share.

Insider Trade Summary

Net Seller: 345 shares

Net Sell 1 txn

Insider Bawa Aparna

Role Director

Sold 345 shs ($100K)

Type	Security	Shares	Price	Value
Sale	Common Stock	345	$290.171	$100K
Holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 7,359 shares (Indirect, See footnote); Common Stock — 1,644 shares (Direct)

Footnotes (2)

F1. This sale price represents the weighted average sale price of the shares sold ranging from $290.005 to $290.24 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F2. Shares are held by The Bawa Family Trust, for which the Reporting Person and her spouse serve as trustees.

Key Figures

Shares sold: 345 shares Weighted average sale price: $290.171 per share Post-sale indirect holdings: 7,359 shares +2 more

5 metrics

Shares sold 345 shares Open-market sale by The Bawa Family Trust

Weighted average sale price $290.171 per share Average price for 345 shares sold

Post-sale indirect holdings 7,359 shares Held by The Bawa Family Trust after sale

Direct holdings 1,644 shares Directly owned by Aparna Bawa after transaction

Sale price range $290.005–$290.24 per share Range of individual trade prices in sale

Key Terms

weighted average sale price, open-market sale, indirect ownership, family trust

4 terms

weighted average sale price financial

"This sale price represents the weighted average sale price of the shares sold ranging from $290.005 to $290.24 per share."

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

"Shares are held by The Bawa Family Trust, for which the Reporting Person and her spouse serve as trustees."

family trust financial

"Shares are held by The Bawa Family Trust, for which the Reporting Person and her spouse serve as trustees."

FAQ

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What did Palo Alto Networks (PANW) director Aparna Bawa report in this Form 4?

Director Aparna Bawa reported an open-market sale of Palo Alto Networks common stock by The Bawa Family Trust. The trust sold 345 shares and continues to hold thousands of shares after the transaction, while Bawa also maintains a separate direct ownership position.

How many Palo Alto Networks (PANW) shares were sold and at what price?

The Bawa Family Trust sold 345 shares of Palo Alto Networks common stock at a weighted average price of approximately $290.171. Individual trades occurred within a price range from $290.005 to $290.24 per share, according to the Form 4 disclosure footnote.

How many Palo Alto Networks (PANW) shares does the Bawa Family Trust hold after the sale?

Following the reported sale, The Bawa Family Trust holds 7,359 shares of Palo Alto Networks common stock. These shares are reported as indirectly owned, with Aparna Bawa and her spouse serving as trustees of the trust that holds the position.

What is Aparna Bawa’s direct ownership in Palo Alto Networks (PANW) after the transaction?

After the reported activity, Aparna Bawa directly owns 1,644 shares of Palo Alto Networks common stock. This direct holding is separate from the shares held indirectly through The Bawa Family Trust, which is also reported in the same Form 4 filing.

Who actually holds the Palo Alto Networks (PANW) shares involved in the sale?

The sold shares are held by The Bawa Family Trust, for which Aparna Bawa and her spouse serve as trustees. The Form 4 attributes the open-market sale of 345 shares to this trust, reflecting indirect ownership rather than Bawa’s personal direct account.

How is the sale price range for the Palo Alto Networks (PANW) shares described?

The Form 4 states that the sale price represents a weighted average of multiple trades between $290.005 and $290.24 per share. The reporting person will provide details of each individual trade price and share count upon request by regulators or company security holders.

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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^*

Bawa Aparna

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/22/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/22/2026		S		345	D	$290.171⁽¹⁾	7,359	I	See footnote⁽²⁾
Common Stock								1,644	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. This sale price represents the weighted average sale price of the shares sold ranging from $290.005 to $290.24 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

2. Shares are held by The Bawa Family Trust, for which the Reporting Person and her spouse serve as trustees.

	/s/ Elizabeth Villalobos, Attorney-in-Fact for Aparna Bawa	06/22/2026
	** 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)

Source: View Original Filing on SEC EDGAR