Palo Alto SEC Filings

Lee Klarich, Executive Vice President & Chief Product and Technology Officer and a director of Palo Alto Networks (PANW), reported multiple transactions on 10/06/2025. The filing shows an exercise of a stock option for 92,010 shares at an exercise price of $32.25, which produced 92,010 newly issued shares held directly. The report also discloses planned sales executed under a Rule 10b5-1 trading plan: five separate dispositions totaling 120,774 shares sold at weighted-average prices in the approximately $209–$213 per-share range.

After these transactions the filing lists 149,190 shares owned directly and 690,000 shares held indirectly through the Lee and Susan Klarich 2005 Trust (trustees: the reporting person and spouse). The sales were effected pursuant to a 10b5-1 plan adopted on 09/27/2024, and the option shares were fully vested and exercisable.

Palo Alto Networks (PANW) Form 144 notice shows an insider intends to sell 120,774 Class A shares with an aggregate market value of $25,674,136.92 through Goldman Sachs & Co. LLC on 10/06/2025. The securities were acquired as compensation: 92,010 shares from a 10/20/2018 stock‑option cashless exercise, 25,950 RSUs on 10/20/2020, and 2,814 RSUs on 07/31/2019. The filer discloses multiple sales by the same person in the prior three months totaling 362,322 shares with gross proceeds of approximately $68,061,965.64. The notice includes the customary representation that the seller is not aware of undisclosed material adverse information.

Josh D. Paul, Chief Accounting Officer of Palo Alto Networks Inc (PANW), reported the sale of 700 shares of the issuer's common stock on 10/01/2025 at a price of $202.16 per share. After the transaction he beneficially owns 32,474 shares. The filing states the sale was effected pursuant to a Rule 10b5-1 trading plan that the reporting person adopted on 10/01/2024. The Form 4 was signed and filed via attorney-in-fact Elizabeth Villalobos on 10/02/2025.

Palo Alto Networks (PANW) Form 144 summary: An insider proposes to sell 300,000 shares of common stock through J.P. Morgan Securities, with an approximate aggregate market value of $61,086,000, planned for 10/01/2025 on NASDAQ. The shares were originally acquired as founder shares by Nir Zuk on 03/07/2005. The filing shows prior sales by the Hawk Family Trust of 100,000 shares on 08/01/2025 and 100,000 shares on 09/02/2025, each generating gross proceeds of $17,280,459. The filing includes the required representation that the seller does not possess undisclosed material adverse information.

Palo Alto Networks (PANW) and CyberArk have agreed to a merger in which Qatalyst Partners valued the implied notional consideration at $495.00 per CyberArk ordinary share based on PANW's $204.50 closing price on July 28, 2025. The proxy/prospectus describes an all-stock transaction structure with specified exchange mechanics, treatment of vested and unvested options, RSUs and PSUs, and withholding for applicable taxes, including potential Israeli tax withholding unless valid tax certificates or rulings are obtained.

The filing describes required shareholder approvals at a CyberArk special general meeting, various regulatory clearances and customary closing conditions, potential substantial non-recurring transaction costs, reverse termination fee mechanics and non-solicitation and standstill provisions. Qatalyst presented DCF and comparables analyses implying a CyberArk per-share valuation range and noted management projections that were not reconciled to GAAP.

Palo Alto Networks, Inc. filed an 8-K describing material developments and listing risks tied to its business, partnerships and an identified counterparty, CyberArk. The filing warns of legal proceedings, global market and geopolitical shifts, and risks from product development and commercialization, including offerings that leverage AI. It notes potential changes in the fair value of contingent consideration liabilities from acquisitions and highlights execution risks from growth and strategic initiatives. The filing directs investors to both companies' websites and investor relations contacts for copies of SEC submissions.

Nikesh Arora, CEO and Director of Palo Alto Networks (PANW), reported option exercise and multiple open-market sales on 09/23/2025. He exercised a stock option with a $33.0834 exercise price for 846,408 shares, which were listed as acquired. The filing shows a series of disposals that same date totaling 947,903 shares sold at weighted-average prices ranging from about $202.28 to $208.49 per share across several tranches. After these transactions, Arora beneficially owned between 275,013 and 1,121,421 shares depending on the line item and held additional shares indirectly through trusts and investment vehicles noted in the filing.

Dipak Golechha, EVP and Chief Financial Officer of Palo Alto Networks (PANW), reported insider sales executed on 09/23/2025 under a Rule 10b5-1 trading plan adopted January 6, 2025. The filings show five separate dispositions totaling 5,000 shares sold at weighted average prices ranging roughly from $202.42 to $207.14 per share, with reported per-line weighted averages between $203.01 and $206.81. Following these sales, the filing shows the reporting person beneficially owns 96,135 shares. The Form 4 was signed by an attorney-in-fact on 09/24/2025.

Palo Alto Networks Inc. (PANW) Form 4 shows that Josh D. Paul, Chief Accounting Officer, had 1,964 shares withheld on 09/20/2025 at a price of $208.19 per share. The filing clarifies this was not an open-market sale but shares withheld by the issuer to satisfy income tax and withholding obligations tied to the vesting and net settlement of previously reported restricted stock units. After the withholding, Mr. Paul beneficially owns 33,174 shares. The form was signed by an attorney-in-fact on 09/23/2025.