Klarich Lee 4

4 · Palo Alto Networks Inc · Filed Jan 12, 2026

Insider Transaction Report

Form 4

Period: 2026-01-08

Palo Alto Networks IncPANW

Klarich Lee

DirectorEVP Chief Product & Tech Ofcr

Transactions

Exercise/Conversion
Common Stock
2026-01-08$32.25/sh+92,010$2,967,323→ 419,655 total
Sale
Common Stock
[F1][F2]
2026-01-08$189.60/sh−12,620$2,392,790→ 407,035 total
Sale
Common Stock
[F1][F3]
2026-01-08$190.69/sh−46,192$8,808,445→ 360,843 total
Sale
Common Stock
[F1][F4]
2026-01-08$191.47/sh−54,882$10,508,257→ 305,961 total
Sale
Common Stock
[F1][F5]
2026-01-08$192.38/sh−6,707$1,290,299→ 299,254 total
Sale
Common Stock
[F1][F6]
2026-01-08$193.16/sh−367$70,890→ 298,887 total
Exercise/Conversion
Stock Option (right to buy)
[F8]
2026-01-08−92,010→ 0 total
Exercise: $32.25Exp: 2025-10-19→ Common Stock (92,010 underlying)

Holdings

Common Stock
[F7]
(indirect: See footnote)
640,000

Footnotes (8)

[F1]The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 27, 2024.
[F2]This sale price represents the weighted average sale price of the shares sold ranging from $189.065 to $190.06 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
[F3]This sale price represents the weighted average sale price of the shares sold ranging from $190.065 to $191.06 per share. Upon request by the Commission staff, the Issuer, or a security holder of the 1Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
[F4]This sale price represents the weighted average sale price of the shares sold ranging from $191.065 to $192.06 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
[F5]This sale price represents the weighted average sale price of the shares sold ranging from $192.065 to $193.06 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
[F6]This sale price represents the weighted average sale price of the shares sold ranging from $193.085 to $193.21 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
[F7]Shares are held by the Lee and Susan Klarich 2005 Trust, dated Dec. 5, 2005, for which the Reporting Person and his spouse serve as trustees.
[F8]The shares subject to the option are fully vested and exercisable.

Signature

/s/ Elizabeth Villalobos, Attorney-in-Fact for Lee Klarich|2026-01-12

Documents

1 file

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ownership.xmlPrimary
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