22,684 Palo Alto Networks (PANW) shares sold by James Goetz family trust

Rhea-AI Filing Summary

Palo Alto Networks director James J. Goetz reported indirect open-market sales of 22,684 shares of common stock on March 6, 2026 through his family trust. The shares were sold at weighted-average prices of $163.83 and $164.76, in multiple trades between $163.27 and $165.19 per share.

After these transactions, the family trust held 52,500 shares indirectly, while Goetz also held 314,580 shares directly. He disclaims beneficial ownership of the trust’s shares except to the extent of his pecuniary interest, so these sales cover only a portion of his overall economic exposure to Palo Alto Networks.

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^*

GOETZ JAMES J

(Last) (First) (Middle)

C/O SEQUOIA CAPITAL

2800 SAND HILL ROAD, SUITE 101

(Street)

MENLO PARK CA 94025

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/06/2026

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	03/06/2026		S		8,500	D	$163.83(1)	66,684	I	By family trust(3)
Common Stock	03/06/2026		S		14,184	D	$164.76(2)	52,500	I	By family trust(3)
Common Stock								314,580	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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $163.27 to $164.26, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) and footnote (2) to this Form 4.

2. The price reported in Column 4 is weighted average price. These shares were sold in multiple transactions at prices ranging from $164.28 to $165.19, inclusive.

3. Shares held by the Reporting Person's family trust. The Reporting Person may be deemed to beneficially own the shares held by his family trust. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities on this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the reported securities for purposes of Section 16 or for any other purpose.

	/s/ Jung Yeon Son, by power of attorney for James J. Goetz	03/10/2026
	** 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.

FAQ

How many Palo Alto Networks (PANW) shares were sold in James Goetz’s latest Form 4?

James Goetz’s family trust sold a total of 22,684 Palo Alto Networks common shares. The Form 4 shows two open-market sale transactions on March 6, 2026, reducing the trust’s indirect holdings while leaving a substantial direct position in the company.

At what prices did the Goetz family trust sell Palo Alto Networks (PANW) shares?

The Goetz family trust sales occurred at weighted-average prices of $163.83 and $164.76 per share. Footnotes explain these were multiple trades within ranges from $163.27 to $165.19, and detailed trade-by-trade pricing is available on request from the reporting person.

What are James Goetz’s Palo Alto Networks (PANW) holdings after the reported sales?

After the reported transactions, the family trust held 52,500 Palo Alto Networks shares indirectly. Separately, James Goetz held 314,580 shares directly. Together, these figures show he retains a large stake in the company despite the recent open-market sales reported on Form 4.

Were the Palo Alto Networks (PANW) share sales by James Goetz direct or through an entity?

The reported Palo Alto Networks share sales were made indirectly through James Goetz’s family trust. The Form 4 lists the ownership as indirect and notes the shares are held by a family trust rather than sold from his directly held personal share account.

Does James Goetz claim full beneficial ownership of the Palo Alto Networks (PANW) shares held in his family trust?

James Goetz does not claim full beneficial ownership of the family trust’s Palo Alto Networks shares. A footnote states he may be deemed a beneficial owner but disclaims beneficial ownership except to the extent of his pecuniary interest in those securities.

What type of transaction is reported in James Goetz’s Palo Alto Networks (PANW) Form 4?

The Form 4 reports open-market sale transactions in Palo Alto Networks common stock by the Goetz family trust. The SEC code “S” identifies these as sales rather than grants, exercises, or gifts, and no derivative exercises or tax-withholding entries appear in this filing.