Palo Alto Networks CAO Josh D. Paul Acquires Shares via PSU Vesting with Tax Withholding

Executive Summary

On November 1, 2026, Josh D. Paul, Chief Accounting Officer of Palo Alto Networks Inc ($PANW), reported the acquisition of 26,421 shares of common stock following the certification and vesting of performance-based restricted stock units (PSUs). Concurrently, 13,100 shares were surrendered to the issuer at a price of $365.87 per share ($4,792,897 total value) to satisfy required tax withholding obligations.

Transaction Breakdown

1. Performance Unit Award Vesting (Code A):

   • Shares Acquired: 26,421
   • Price Per Share: $0.00
   • Details: Represents PSUs initially granted on August 21, 2023, where performance conditions were certified as met by the Compensation and People Committee effective November 1, 2026.

2. Tax Withholding Disposition (Code F):

   • Shares Withheld: 13,100
   • Price Per Share: $365.87
   • Total Consideration: $4,792,897
   • Details: Automatic disposition to the issuer to cover statutory tax liabilities associated with the vesting event.

Ownership Context & Trading Significance

• Post-Transaction Beneficial Ownership: Following these transactions, Josh D. Paul holds 91,308 shares directly.
• Significance Assessment: Low. The reported transactions represent scheduled equity compensation vesting and mandatory tax withholdings rather than discretionary open-market buying or selling. These events do not signal market sentiment or changes in executive outlook.