Palo Alto Networks CAO sells 900 shares

Palo Alto Networks’ chief accounting officer sold 900 shares under a pre-set Rule 10b5-1 trading plan and continues to hold 72,484 shares.

Rhea-AI Filing Summary

Palo Alto Networks Inc (PANW) reported that Chief Accounting Officer Josh D. Paul sold 900 shares of common stock on September 1, 2026 at $373.68 per share in an open-market transaction. The sale was made under a Rule 10b5-1 trading plan adopted on September 17, 2025, and Paul now holds 72,484 shares directly, including shares acquired through the Employee Stock Purchase Plan.

Insider Trade Summary 10b5-1

Net Seller: 900 shares

Net Sell 1 txn

Insider Paul Josh D.

Role Chief Accounting Officer

Sold 900 shs ($336K)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	900	$373.68	$336K

Holdings After Transaction: Common Stock — 72,484 shares (Direct)

Footnotes (2)

1. F1. The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 17, 2025.
2. F2. Includes shares acquired by the Reporting Person pursuant to the Issuer's Employee Stock Purchase Plan.

Key Figures

Shares sold: 900 shares Sale price per share: $373.68 per share Shares owned after transaction: 72,484 shares +1 more

4 metrics

Shares sold 900 shares Common stock sale on September 1, 2026

Sale price per share $373.68 per share Reported price for the September 1, 2026 sale

Shares owned after transaction 72,484 shares Direct holdings of Josh D. Paul following the sale

Rule 10b5-1 plan adoption date September 17, 2025 Trading plan under which the sale was effected

Key Terms

Rule 10b5-1 trading plan, Employee Stock Purchase Plan, open market or private transaction

3 terms

Rule 10b5-1 trading plan regulatory

"The sale was effected pursuant to a Rule 10b5-1 trading plan adopted"

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

"Includes 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.

open market or private transaction market

"Sale in open market or private transaction"

FAQ

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

What insider transaction did PANW report for Chief Accounting Officer Josh D. Paul?

PANW reported that Chief Accounting Officer Josh D. Paul sold 900 shares of common stock on September 1, 2026 in an open-market or private transaction at a reported price of $373.68 per share.

How many Palo Alto Networks (PANW) shares does Josh D. Paul hold after this sale?

After the reported transaction, Josh D. Paul holds 72,484 shares of PANW common stock directly. This total includes shares he acquired through the company’s Employee Stock Purchase Plan.

Was the September 1, 2026 PANW insider sale made under a Rule 10b5-1 plan?

Yes. The filing states that the September 1, 2026 sale of 900 PANW shares by Josh D. Paul was effected pursuant to a Rule 10b5-1 trading plan adopted on September 17, 2025.

What price did the Palo Alto Networks (PANW) insider receive for the sold shares?

Josh D. Paul sold 900 PANW shares at a reported price of $373.68 per share on September 1, 2026, according to the Form 4 filing data.

Does Josh D. Paul’s PANW share total include Employee Stock Purchase Plan shares?

Yes. A footnote explains that the 72,484 shares reported as held by Josh D. Paul include shares acquired through Palo Alto Networks’ Employee Stock Purchase Plan.

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

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Available on EDGAR 09/03/2026 - 04:51 PM EDT Accepted by SEC EDGAR 09/03/2026 - 04:30 PM EDT Learn about SEC filing dates

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).

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^*

Paul Josh D.

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/01/2026		S(1)		900	D	$373.68	72,484(2)	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. The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 17, 2025.

2. Includes shares acquired by the Reporting Person pursuant to the Issuer's Employee Stock Purchase Plan.

	/s/ Elizabeth Villalobos, Attorney-in-Fact for Josh D. Paul	09/03/2026
	** 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)