Welcome to our dedicated page for Palo Alto SEC filings (Ticker: PANW), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Palo Alto Networks, Inc. (NASDAQ: PANW) uses its SEC filings to disclose material events, financial results, governance decisions and strategic transactions related to its AI and cybersecurity business. As a Nasdaq-listed company, it files current reports on Form 8-K, annual proxy statements on Schedule 14A and other documents that together provide a detailed regulatory record of its operations and corporate actions.
Recent 8-K filings illustrate how Palo Alto Networks reports key developments. The company has filed 8-Ks describing an Agreement and Plan of Merger with CyberArk Software Ltd., under which a wholly owned subsidiary of Palo Alto Networks will merge with CyberArk, subject to customary closing conditions and regulatory approvals. Other 8-Ks outline a definitive agreement to acquire Chronosphere, a next-generation observability platform, and an extension of a share repurchase authorization. Additional 8-Ks report quarterly and annual financial results, changes in board composition, amendments to bylaws and updates to equity incentive plans.
The definitive proxy statement on Schedule 14A provides further insight into governance, executive compensation and strategy. In that document, Palo Alto Networks discusses its platformization approach, its focus on AI-era security and its view of identity security as a new pillar following the proposed CyberArk transaction. The proxy also details shareholder proposals and voting outcomes, such as approval of amendments to the 2021 Equity Incentive Plan and a shareholder proposal to elect each director annually.
On Stock Titan’s SEC filings page for PANW, users can review these filings as they are made available through EDGAR and use AI-powered summaries to interpret complex documents. Filings such as 10-K annual reports and 10-Q quarterly reports (when available), along with 8-K current reports and proxy materials, can be analyzed to understand how Palo Alto Networks describes risks, reports financial performance, structures equity compensation and documents acquisitions. Investors can also monitor disclosures about share repurchase authorizations and material agreements that affect the company’s capital structure and strategic direction.
Palo Alto Networks filed its 2025 definitive proxy statement for the virtual Annual Meeting on December 9, 2025 at 11:00 A.M. PT. The Board recommends “FOR” the election of three Class II directors, auditor ratification, advisory say‑on‑pay, and an amendment to the 2021 Equity Incentive Plan, and “AGAINST” two shareholder proposals.
Fiscal 2025 results highlight platform momentum: total revenue was $9.22 billion (up 15%), Next‑Generation Security ARR reached $5.58 billion (up 32%), and remaining performance obligations were $15.8 billion (up 24%). Management emphasizes innovation across Network Security and Security Operations and notes strong adoption of Cortex XSIAM.
The company announced on July 30, 2025 its intent to acquire CyberArk to expand Identity Security, subject to closing. Governance updates include extensive shareholder engagement with holders of approximately 53% of shares and compensation changes: 100% performance‑based equity for NEOs and a reduction of PSU maximum payout to 400% of target, with tighter metrics aligned to NGS ARR and non‑GAAP EPS.
Palo Alto Networks (PANW) Chief Accounting Officer Josh D. Paul reported PSU-related activity and a small open-market sale. On 11/01/2025, 31,201 common shares vested from performance-based RSUs. To cover taxes, the issuer withheld 15,470 shares at $220.24 per share, which is not a sale. On 11/03/2025, he sold 700 shares at $219.97 pursuant to a Rule 10b5-1 plan adopted on 10/01/2024. Following these transactions, he beneficially owns 47,505 shares, held directly.
Palo Alto Networks (PANW) President William D. Jenkins, Jr. reported a Form 4 for transactions on November 1, 2025. He acquired 312,025 shares of common stock at $0 upon vesting of previously granted performance-based RSUs. The filing notes that 164,219 shares were withheld at $220.24 to cover taxes related to the vesting, which is not a sale by the reporting person. Following these transactions, he beneficially owns 155,339 shares directly.
Palo Alto Networks (PANW) EVP and director Lee Klarich reported multiple Form 4 transactions. On 11/01/2025, 468,038 shares vested from performance-based RSUs at $0, and 232,055 shares were withheld to cover taxes at $220.24 per share. On 11/03/2025, he exercised 92,010 stock options at an exercise price of $32.25 and sold shares in pre-set tranches under a Rule 10b5-1 plan, including 8,371 at $215.883 and 45,515 at $218.004.
Following these transactions, he owned 356,409 shares directly and 690,000 shares indirectly via the Lee and Susan Klarich 2005 Trust. He also reported 184,020 derivative securities beneficially owned after the transactions.
Palo Alto Networks (PANW) reported an insider equity update for its EVP and CFO. On November 1, 2025, 280,820 shares of common stock were acquired at $0 upon vesting of previously granted performance-based RSUs. Of these, 140,410 shares were deferred into phantom stock under the company’s Deferred Compensation Plan, and 73,926 shares were withheld at $220.24 to cover taxes. Following these transactions, the officer beneficially owned 162,619 shares of common stock directly.
Each phantom stock unit equals one share of common stock, with releases expected in installments beginning on or about January 31, 2030 and ending on or about January 31, 2034.
Palo Alto Networks (PANW) CEO and director Nikesh Arora reported the vesting of 1,185,721 PSUs effective November 1, 2025. He elected to defer the vested shares into the company’s Deferred Compensation Plan as phantom stock, a non-cash election at $0 per share that converts to common stock later.
Following these transactions, he held 275,013 shares directly, plus 32,010 and 726,542 shares held indirectly via trusts and partnerships. Under the plan, a portion of the deferred shares is scheduled to be released on or about January 31, 2027, with another portion on or about January 31, 2028.
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.