Palo Alto Networks CEO Nikesh Arora Certified for 1,056,783 PSUs

Executive Compensation Overview

On November 1, 2026, the Compensation and People Committee of Palo Alto Networks Inc certified the achievement of performance conditions for performance-based restricted stock units (PSUs) granted to Chief Executive Officer Nikesh Arora on August 21, 2023.

Transaction Summary

• Security: Phantom Stock (each representing one share of Common Stock)
• Shares Acquired: 1,056,783 shares
• Transaction Code: A (Award / Grant)
• Price: $0.00 per share
• Post-Transaction Beneficial Ownership: 3,150,152 phantom stock shares

Structure & Deferral

Pursuant to the Palo Alto Networks, Inc. Deferred Compensation Plan, Mr. Arora elected to defer these earned PSU shares into phantom stock. Each unit of phantom stock corresponds to the right to receive one share of common stock upon distribution under the terms of the plan.

Market Implications

Because this transaction represents the certification and grant/deferral of performance-based equity rather than an open-market transaction, it does not involve immediate open-market buying or selling pressure. However, it confirms the achievement of long-term performance milestones under Mr. Arora's compensation package and reflects significant ongoing equity-linked alignment.