RSU grant boosts Palo Alto Networks (PANW) Chief Accounting Officer stake

Rhea-AI Filing Summary

Paul Josh D. reported acquisition or exercise transactions in this Form 4 filing.

Palo Alto Networks Inc reported that Chief Accounting Officer Josh D. Paul received a grant of 26,369 shares of common stock in the form of restricted stock units. This is a compensation-related award at a price of $0.00 per share, not an open-market purchase.

The RSUs will vest in equal quarterly installments over a two-and-a-half-year period, as long as he continues in service on each vesting date. Following this grant, Paul directly holds 85,183 shares of Palo Alto Networks common stock, showing an increased equity stake tied to ongoing employment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Paul Josh D.

Role Chief Accounting Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	26,369	$0.00	--

Holdings After Transaction: Common Stock — 85,183 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Paul Josh D.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

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	03/10/2026		A		26,369(1)	A	$0	85,183	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. Each share is represented by a Restricted Stock Unit ("RSU"). The RSUs shall vest over a two-and-a-half-year period in equal quarterly increments, subject to the Reporting Person's continued service as of each such date.

	/s/ Elizabeth Villalobos, Attorney-in-Fact for Josh D. Paul	03/12/2026
	** 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.

FAQ

What insider transaction did Palo Alto Networks (PANW) disclose for its Chief Accounting Officer?

Palo Alto Networks disclosed that Chief Accounting Officer Josh D. Paul received a grant of 26,369 restricted stock units. These RSUs represent shares of common stock awarded as equity compensation rather than shares bought on the open market by the executive.

How many Palo Alto Networks (PANW) RSUs were granted to the Chief Accounting Officer?

The Chief Accounting Officer received 26,369 restricted stock units tied to Palo Alto Networks common stock. This award is recorded at a price of $0.00 per share, reflecting a compensation grant rather than a cash purchase in the public market.

What is the vesting schedule for the Palo Alto Networks (PANW) RSUs granted to the CAO?

The RSUs granted to the Chief Accounting Officer vest over two-and-a-half years in equal quarterly installments. Vesting is contingent on his continued service with Palo Alto Networks on each vesting date, aligning the award with longer-term employment and performance.

Did the Palo Alto Networks (PANW) Chief Accounting Officer buy shares on the open market?

No, the Chief Accounting Officer did not buy shares on the open market. He received 26,369 shares through a restricted stock unit grant at $0.00 per share, which is a standard equity compensation award rather than a discretionary stock purchase.

How many Palo Alto Networks (PANW) shares does the CAO hold after this RSU grant?

After the RSU grant, the Chief Accounting Officer directly holds 85,183 shares of Palo Alto Networks common stock. This total reflects his position following the award and underscores a meaningful ongoing equity stake in the company’s performance.

What does the Palo Alto Networks (PANW) RSU grant indicate about insider ownership incentives?

The RSU grant increases the Chief Accounting Officer’s equity stake and ties part of his compensation to Palo Alto Networks’ share performance. Because the units vest quarterly over 2.5 years, they are structured to encourage retention and long-term alignment with shareholders.