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Palo Alto Networks (PANW) director sells 922 shares via family trust

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Palo Alto Networks director Aparna Bawa reported open-market sales of company stock. Shares held by The Bawa Family Trust, for which she and her spouse serve as trustees, sold a total of 922 common shares on June 29 and July 1 at prices between $309.83 and $348.74 per share. After these transactions, she holds 6,437 shares indirectly through the trust and 1,644 shares directly.

Positive

  • None.

Negative

  • None.
Insider Bawa Aparna
Role null
Sold 922 shs ($303K)
Type Security Shares Price Value
Sale Common Stock 290 $348.74 $101K
Sale Common Stock 327 $309.83 $101K
Sale Common Stock 305 $328.14 $100K
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 6,437 shares (Indirect, See footnote); Common Stock — 1,644 shares (Direct, null)
Footnotes (1)
  1. [object Object]
Total shares sold 922 shares Open-market sales of common stock
Sale price (highest) $348.74 per share Common stock sale on July 1, 2026
Sale price (lowest) $309.83 per share Common stock sale on June 29, 2026
Indirect holdings after trades 6,437 shares Held through The Bawa Family Trust
Direct holdings after trades 1,644 shares Common stock held directly
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
"ownership_type: "indirect" for trust-held shares"
Common Stock financial
"security_title: "Common Stock" in each transaction"
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
Family Trust financial
"Shares are held by The Bawa Family Trust"
trustees financial
"for which the Reporting Person and her spouse serve as trustees"
Trustees are people or a small group legally appointed to hold and manage assets, documents, or obligations on behalf of others and must act in those beneficiaries’ best interests. Think of them as a neutral guardian or custodian who enforces rules, protects assets, and makes decisions that can affect payments, corporate governance, or recovery in a default — all of which directly influence investor returns and risk.
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Form 4 Insider Transactions: What Each Field Means →

FAQ

What did Aparna Bawa report in the latest Form 4 for PANW?
Aparna Bawa reported selling 922 shares of Palo Alto Networks common stock in open-market transactions. The sales occurred on June 29 and July 1 at prices ranging from $309.83 to $348.74 per share, according to the Form 4 data.

At what prices did the Palo Alto Networks (PANW) director sell shares?
The reported sales were executed at prices between $309.83 and $348.74 per share. These prices correspond to three separate open-market sale entries, each involving Palo Alto Networks common stock held indirectly through The Bawa Family Trust.

How many Palo Alto Networks (PANW) shares did Aparna Bawa sell?
The filing shows total open-market sales of 922 common shares. These sales came from three transactions of 327, 305, and 290 shares, all attributed to shares held indirectly through The Bawa Family Trust where she and her spouse act as trustees.

How many Palo Alto Networks (PANW) shares does Aparna Bawa hold after these sales?
After the reported transactions, Aparna Bawa holds 6,437 shares indirectly and 1,644 shares directly. The indirect holdings are through The Bawa Family Trust, while the direct position reflects shares registered in her own name as of the reported dates.

Were the Palo Alto Networks (PANW) shares sold held directly or indirectly?
The sold shares were held indirectly through The Bawa Family Trust. The Form 4 notes that the trust’s holdings are reported as indirect ownership, with Aparna Bawa and her spouse serving as trustees overseeing those trust-held shares.
SEC Form 4
FORM 4UNITED 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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/29/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock06/29/2026S327D$309.837,032ISee footnote(1)
Common Stock06/29/2026S305D$328.146,727ISee footnote(1)
Common Stock07/01/2026S290D$348.746,437ISee footnote(1)
Common Stock1,644D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. 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 Bawa07/01/2026
** Signature of Reporting PersonDate
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