Palo Alto Networks (NYSE: PANW) director sells 1,572 shares at $173

(Moderate)

(Negative)

Form Type

Rhea-AI Filing Summary

Palo Alto Networks director John P. Key reported an open-market sale of Common Stock. On April 8, 2026, he sold 1,572 shares at $173.32 per share. After this transaction, he continues to hold 20,000 shares directly, indicating he retains a substantial position in the company.

Insights

Director’s sale is modest relative to remaining holdings.

Director John P. Key executed an open-market sale of 1,572 shares of Palo Alto Networks Common Stock at $173.32 per share. This is classified as a non-derivative transaction, meaning he sold actual shares rather than exercising options.

Following the sale, he still directly owns 20,000 shares. With no derivative positions listed in the data and only a single sale reported, this looks like a routine portfolio move rather than a transformative change in insider exposure.

Insider Trade Summary

Net Seller: 1,572 shares

Net Sell 1 txn

Insider Key John P.

Role Director

Sold 1,572 shs ($272K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,572	$173.32	$272K

Holdings After Transaction: Common Stock — 20,000 shares (Direct)

Key Figures

Shares sold: 1,572 shares Sale price per share: $173.32 per share Shares held after transaction: 20,000 shares +1 more

4 metrics

Shares sold 1,572 shares Open-market sale on April 8, 2026

Sale price per share $173.32 per share Common Stock transaction

Shares held after transaction 20,000 shares Direct ownership following sale

Net buy/sell shares 1,572 shares net sold transactionSummary netBuySellShares

Key Terms

open-market sale, Common Stock, Form 4, non-derivative

4 terms

open-market sale financial

"transaction_action is listed as "open-market sale" for the Common Stock"

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.

Common Stock financial

"The security_title field identifies the security as "Common Stock""

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.

Form 4 regulatory

"INSIDER FILING DATA (Form 4) describes the reported transaction"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

non-derivative financial

"transaction_type is classified as "non-derivative" for this sale"

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

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 04/10/2026 - 04:30 PM

FAQ

What insider transaction did PANW director John P. Key report?

Director John P. Key reported an open-market sale of Palo Alto Networks Common Stock. He sold 1,572 shares at $173.32 per share on April 8, 2026, and continues to hold 20,000 shares directly after the transaction.

How many Palo Alto Networks (PANW) shares did the director sell and at what price?

John P. Key sold 1,572 shares of Palo Alto Networks Common Stock. The sale was executed as an open-market transaction at a price of $173.32 per share on April 8, 2026, according to the Form 4 data.

How many Palo Alto Networks (PANW) shares does John P. Key hold after the sale?

After selling 1,572 shares, John P. Key holds 20,000 shares of Palo Alto Networks Common Stock. These shares are reported as directly owned, giving a clear view of his remaining equity stake following the April 8, 2026 sale.

Was the recent PANW insider transaction a buy or a sell?

The recent Palo Alto Networks insider transaction by director John P. Key was a sale. The Form 4 classifies it as an open-market sale of 1,572 shares of Common Stock at $173.32 per share, reducing but not eliminating his holdings.

Did the PANW director’s Form 4 include any derivative transactions or option exercises?

No, the Form 4 lists only a non-derivative transaction in Common Stock. There are no derivative transactions, no option exercises, and the derivativeSummary is empty, indicating no unexercised options or similar instruments reported in this filing for John P. Key.

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^*

Key John P.

(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)
04/08/2026

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	04/08/2026		S		1,572	D	$173.32	20,000	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:

	/s/ Elizabeth Villalobos, Attorney-in-Fact for John P. Key	04/10/2026
	** 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