June 30, 2026 · Form 4 insider transaction
Arora Nikesh sold 865,090 shares of Palo Alto Networks, Inc. at $0.00 per share, a transaction worth N/A. The trade was recorded as i and disclosed on an SEC Form 4, filed 2 days after the transaction.
Pursuant to the Palo Alto Networks, Inc. Deferred Compensation Plan (the "DCP"), each share of phantom stock represents the Reporting Person's right to receive one share of common stock of the Issuer.; This transaction does not constitute an open market sale of shares. This disposition reflects the Reporting Person's election to change the investment allocation within the DCP, which is an internal reallocation permitted under the terms of the DCP and exempt from Section 16(b) pursuant to Rule 16b-3(f). All distributions will be made in shares of the Issuer's common stock, and a portion will be released on or about February 2028 and another portion will be released on or about February 2036. Following this transaction, the Reporting Person maintains a significant equity position in the Issuer, including the shares of phantom stock held in the DCP reported herein and 726,542 shares of common stock.