Jenkins William D Jr 4

What Happened William D. Jenkins Jr., President of Palo Alto Networks (PANW), reported a disposition of 69,499 derivative shares on June 4, 2026. The filing shows a price of $0.00 and $0 total because the transaction involved phantom stock units under the company's Deferred Compensation Plan (DCP), not a public-market sale.

Key Details

• Transaction date: 2026-06-04; Form 4 filed: 2026-06-08 (timely).
• Reported disposition: 69,499 phantom stock units (derivative) @ $0.00; reported total value $0.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote summary:
  • F1: Each phantom share under the DCP represents the right to receive one share of common stock.
  • F2: The disposition reflects the Reporting Person’s election to diversify DCP holdings; distributions under the DCP are generally made in common stock and this transaction is exempt under Rule 16b-3(f).
• Transaction type: Internal plan distribution/diversification (exempt), not an open-market sale (no direct market signal).

Context This was a plan-driven conversion/diversification of deferred-compensation phantom stock rather than a purchase or market sale. Such derivative/distribution transactions often report $0 consideration on Form 4 because they reflect internal plan mechanics (conversion or distribution) rather than exchange of cash on the open market.