Palo Alto Networks (PANW) officer reports 50,000-share insider stock move

Rhea-AI Filing Summary

Palo Alto Networks executive Lee Klarich, who serves as a director and as EVP Chief Product & Tech Officer, reported an insider transaction in Palo Alto Networks Inc. common stock. On 12/10/2025, a transaction coded G recorded the disposition of 50,000 shares at a reported price of $0. Following this move, he beneficially owned 640,000 shares indirectly and 327,645 shares directly.

The 640,000 indirectly owned shares are held by the Lee and Susan Klarich 2005 Trust dated December 5, 2005, for which Klarich and his spouse act as trustees. This filing reflects an update to his ownership position.

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

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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^*

Klarich Lee

(Last) (First) (Middle)

C/O PALO ALTO NETWORKS INC.

3000 TANNERY WAY

(Street)

SANTA CLARA CA 95054

(City) (State) (Zip)

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
X	Officer (give title below)		Other (specify below)
	EVP Chief Product & Tech Ofcr

3. Date of Earliest Transaction (Month/Day/Year)
12/10/2025

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

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

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

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	12/10/2025		G		50,000	D	$0	640,000	I	See footnote(1)
Common Stock								327,645	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. Shares are held by the Lee and Susan Klarich 2005 Trust, dated Dec. 5, 2005, for which the Reporting Person and his spouse serve as trustees.

	/s/ Elizabeth Villalobos, Attorney-in-Fact for Lee Klarich	12/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Palo Alto Networks (PANW) executive Lee Klarich report?

Klarich reported a transaction on 12/10/2025 coded G that disposed of 50,000 shares of Palo Alto Networks Inc. common stock at a reported price of $0.

What is Lee Klarich’s role at Palo Alto Networks (PANW)?

He is listed as a director and as an officer with the title EVP Chief Product & Tech Officer.

How many Palo Alto Networks (PANW) shares does Lee Klarich own after the reported transaction?

After the reported transaction, Klarich beneficially owned 640,000 shares indirectly and 327,645 shares directly of Palo Alto Networks common stock.

How are Lee Klarich’s indirect Palo Alto Networks (PANW) shares held?

The indirectly owned 640,000 shares are held by the Lee and Susan Klarich 2005 Trust dated December 5, 2005, for which Klarich and his spouse serve as trustees.

When did the reported Palo Alto Networks (PANW) insider transaction take place?

The earliest transaction date reported for the Palo Alto Networks common stock transaction is 12/10/2025.

Was the Palo Alto Networks (PANW) insider filing made by one person or a group?

The document indicates that the Form was filed by one reporting person, not by more than one reporting person.