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  4. [Form 4] Palo Alto Networks Inc Insider Trading Activity

Palo Alto Networks president sells 18,222 shares

The reported transactions also include a performance-based stock award and shares withheld for tax withholding on vesting.

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Form Type
4

Rhea-AI Filing Summary

Palo Alto Networks President William D. Jenkins Jr. reported selling 18,222 common shares on November 2, 2026, across 16 transactions; reported prices included $351.4572 and $366.8600 per share. The sales were made under a Rule 10b5-1 trading plan adopted June 28, 2026. On November 1, he reported acquiring 264,195 shares, including performance-based restricted stock units whose performance conditions were certified that day and shares acquired through the Employee Stock Purchase Plan. The issuer withheld 139,000 shares for tax withholding on PSU vesting.

Insider Jenkins William D Jr
Role President
Sold 18,222 shs ($6.54M)
Type Security Shares Price Value
Sale Common Stock F4, F5 2,301 $351.4572 $809K
Sale Common Stock F4, F6 640 $352.0903 $225K
Sale Common Stock F4, F7 840 $353.553 $297K
Sale Common Stock F4, F8 1,149 $354.4693 $407K
Sale Common Stock F4, F9 531 $355.3734 $189K
Sale Common Stock F4, F10 680 $356.7524 $243K
Sale Common Stock F4, F11 1,040 $357.704 $372K
Sale Common Stock F4, F12 760 $358.7586 $273K
Sale Common Stock F4, F13 1,149 $359.8068 $413K
Sale Common Stock F4, F14 771 $360.8546 $278K
Sale Common Stock F4, F15 1,822 $361.9385 $659K
Sale Common Stock F4, F16 2,858 $362.9289 $1.04M
Sale Common Stock F4, F17 2,951 $363.8469 $1.07M
Sale Common Stock F4, F18 450 $364.8682 $164K
Sale Common Stock F4, F19 240 $365.9517 $88K
Sale Common Stock F4 40 $366.86 $15K
Grant/Award Common Stock F1, F2 264,195 $0.00 $0.00
Tax Withholding Common Stock F3 139,000 $365.87 $50.86M
Holdings After Transaction: Common Stock — 255,331 shares (Direct)
Footnotes (19)
  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. Includes shares acquired by the Reporting Person pursuant to the Issuer's Employee Stock Purchase Plan.
  3. F3. Represents shares withheld by the Issuer to satisfy tax withholding requirements on vesting of PSUs.
  4. F4. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 28, 2026.
  5. F5. This sale price represents the weighted average sale price of the shares sold ranging from $350.77 to $351.76 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.
  6. F6. This sale price represents the weighted average sale price of the shares sold ranging from $351.79 to $352.78 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.
  7. F7. This sale price represents the weighted average sale price of the shares sold ranging from $352.94 to $353.92 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.
  8. F8. This sale price represents the weighted average sale price of the shares sold ranging from $353.95 to $354.94 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.
  9. F9. This sale price represents the weighted average sale price of the shares sold ranging from $354.95 to $355.82 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.
  10. F10. This sale price represents the weighted average sale price of the shares sold ranging from $356.2 to $357.14 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.
  11. F11. This sale price represents the weighted average sale price of the shares sold ranging from $357.23 to $358.22 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.
  12. F12. This sale price represents the weighted average sale price of the shares sold ranging from $358.24 to $359.22 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.
  13. F13. This sale price represents the weighted average sale price of the shares sold ranging from $359.37 to $360.36 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.
  14. F14. This sale price represents the weighted average sale price of the shares sold ranging from $360.39 to $361.28 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.
  15. F15. This sale price represents the weighted average sale price of the shares sold ranging from $361.40 to $362.37 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.
  16. F16. This sale price represents the weighted average sale price of the shares sold ranging from $362.44 to $363.42 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.
  17. F17. This sale price represents the weighted average sale price of the shares sold ranging from $363.45 to $364.44 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.
  18. F18. This sale price represents the weighted average sale price of the shares sold ranging from $364.46 to $365.17 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.
  19. F19. This sale price represents the weighted average sale price of the shares sold ranging from $365.46 to $366.45 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.
Common shares sold 18,222 shares Across 16 transactions on November 2, 2026
Sale transaction 2,301 shares at $351.4572 per share November 2, 2026
Sale transaction 40 shares at $366.8600 per share November 2, 2026
Reported share acquisition 264,195 shares November 1, 2026; includes a performance-based restricted stock unit award and Employee Stock Purchase Plan shares
Shares withheld for tax withholding 139,000 shares November 1, 2026; on vesting of performance-based restricted stock units
performance-based restricted stock units financial
"award of performance-based restricted stock units granted to the Reporting Person"
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.
Rule 10b5-1 trading plan regulatory
"sale was effected pursuant to a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Employee Stock Purchase Plan financial
"shares acquired by the Reporting Person pursuant to the Issuer's Employee Stock Purchase Plan"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
tax withholding requirements financial
"shares withheld by the Issuer to satisfy tax withholding requirements"

FAQ

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

How many PANW shares did President William D. Jenkins Jr. sell, and at what prices?
William D. Jenkins Jr. reported selling 18,222 common shares on November 2, 2026, across 16 transactions. Reported prices included $351.4572 and $366.8600 per share. The sales were made under a Rule 10b5-1 trading plan adopted June 28, 2026.

What PANW shares did William D. Jenkins Jr. acquire or have withheld on November 1?
He reported acquiring 264,195 shares; the reported acquisition includes a performance-based restricted stock unit award and shares acquired through the Employee Stock Purchase Plan. The issuer withheld 139,000 shares for tax withholding on PSU vesting, and the Compensation and People Committee certified achievement of the PSU performance conditions that day.

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

Form 4 Insider Transactions: What Each Field Means →
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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).
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*
Jenkins William D Jr
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
President
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
11/01/2026		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 Stock11/01/2026A264,195(1)A$0412,553(2)D
Common Stock11/01/2026F(3)139,000D$365.87273,553D
Common Stock11/02/2026S(4)2,301D$351.4572(5)271,252D
Common Stock11/02/2026S(4)640D$352.0903(6)270,612D
Common Stock11/02/2026S(4)840D$353.553(7)269,772D
Common Stock11/02/2026S(4)1,149D$354.4693(8)268,623D
Common Stock11/02/2026S(4)531D$355.3734(9)268,092D
Common Stock11/02/2026S(4)680D$356.7524(10)267,412D
Common Stock11/02/2026S(4)1,040D$357.704(11)266,372D
Common Stock11/02/2026S(4)760D$358.7586(12)265,612D
Common Stock11/02/2026S(4)1,149D$359.8068(13)264,463D
Common Stock11/02/2026S(4)771D$360.8546(14)263,692D
Common Stock11/02/2026S(4)1,822D$361.9385(15)261,870D
Common Stock11/02/2026S(4)2,858D$362.9289(16)259,012D
Common Stock11/02/2026S(4)2,951D$363.8469(17)256,061D
Common Stock11/02/2026S(4)450D$364.8682(18)255,611D
Common Stock11/02/2026S(4)240D$365.9517(19)255,371D
Common Stock11/02/2026S(4)40D$366.86255,331D
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. 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. Includes shares acquired by the Reporting Person pursuant to the Issuer's Employee Stock Purchase Plan.
3. Represents shares withheld by the Issuer to satisfy tax withholding requirements on vesting of PSUs.
4. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 28, 2026.
5. This sale price represents the weighted average sale price of the shares sold ranging from $350.77 to $351.76 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.
6. This sale price represents the weighted average sale price of the shares sold ranging from $351.79 to $352.78 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.
7. This sale price represents the weighted average sale price of the shares sold ranging from $352.94 to $353.92 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.
8. This sale price represents the weighted average sale price of the shares sold ranging from $353.95 to $354.94 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.
9. This sale price represents the weighted average sale price of the shares sold ranging from $354.95 to $355.82 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.
10. This sale price represents the weighted average sale price of the shares sold ranging from $356.2 to $357.14 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.
11. This sale price represents the weighted average sale price of the shares sold ranging from $357.23 to $358.22 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.
12. This sale price represents the weighted average sale price of the shares sold ranging from $358.24 to $359.22 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.
13. This sale price represents the weighted average sale price of the shares sold ranging from $359.37 to $360.36 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.
14. This sale price represents the weighted average sale price of the shares sold ranging from $360.39 to $361.28 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.
15. This sale price represents the weighted average sale price of the shares sold ranging from $361.40 to $362.37 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.
16. This sale price represents the weighted average sale price of the shares sold ranging from $362.44 to $363.42 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.
17. This sale price represents the weighted average sale price of the shares sold ranging from $363.45 to $364.44 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.
18. This sale price represents the weighted average sale price of the shares sold ranging from $364.46 to $365.17 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.
19. This sale price represents the weighted average sale price of the shares sold ranging from $365.46 to $366.45 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.
/s/ Elizabeth Villalobos, Attorney-in-fact11/03/2026
** 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

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