Klarich Lee 4

What Happened

• Lee Klarich, EVP Chief Product & Technology Officer and director of Palo Alto Networks (PANW), was reported to have received 70 shares on Feb 12, 2026. The securities were acquired as merger consideration related to Palo Alto Networks' acquisition of CyberArk Software Ltd. No per-share price or total dollar value is provided in the filing (listed as N/A).

Key Details

• Transaction date: 2026-02-12; Filing date (Form 4): 2026-02-17.
• Transaction type: Award/acquisition as merger consideration (code A).
• Shares acquired: 70; reported price/value: N/A.
• Shares are held by the Lee and Susan Klarich 2005 Trust (dated Dec. 5, 2005), for which Mr. Klarich and his spouse serve as trustees (footnote).
• The filing does not disclose the insider’s total PANW holdings after this transaction.

Context

• This was not an open-market purchase or sale but merger consideration received in connection with the CyberArk deal—such transfers reflect deal terms rather than a directional insider market trade. The shares are held in a family trust, which is common for estate and tax planning and does not on its own signal personal buying or selling intent. Investors should note the filing date and check timeliness against Form 4 reporting rules if that is a concern.