Paul Josh D. 4

What Happened
Paul Josh D., Chief Accounting Officer of Palo Alto Networks, sold 400 shares in an open-market transaction on May 20, 2026. The shares were disposed at $236.95 per share for a total value of $94,780. This transaction is a sale (S), which is often routine insider liquidity rather than a direct signal about company prospects.

Key Details

• Transaction date and price: 2026-05-20 at $236.95 per share.
• Shares sold / value: 400 shares; total proceeds $94,780.
• Shares owned after transaction: Not reported on this Form 4.
• Footnote: Sale was executed pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 17, 2025 (per footnote F1).
• Timeliness: Form 4 was filed on 2026-05-22 reporting the 2026-05-20 trade, which appears to be filed within the standard two-business-day window.

Context
Sales reported under 10b5-1 plans are pre-scheduled trades established to avoid trading on inside information; they are common for executives managing diversification or tax/liquidity needs. For retail investors, purchases typically carry more informational weight than routine sales, but tracking insider activity over time can still provide useful context.