Palo Alto Networks Officer Files Form 144 to Sell $6.67M in Stock

Executive Summary

On November 4, 2026, William D Jenkins Jr., an Officer at Palo Alto Networks Inc ($PANW), filed a Form 144 notice disclosing the proposed sale of 19,037 shares of common stock with an aggregate market value of approximately $6.67 million. The sale is being executed through Morgan Stanley Smith Barney LLC.

Transaction Details

• Security: Common Stock
• Proposed Sale Quantity: 19,037 shares
• Aggregate Market Value: $6,666,757.40 (~$350.20 per share)
• Shares Outstanding: 818,000,000 shares
• Approximate Sale Date: November 4, 2026
• Origin of Shares: Acquired on November 1, 2025, from the issuer upon the vesting of Performance Stock Units (PSUs).

Prior Sales & Trading Plan

The filing indicates that this planned sale is part of an ongoing execution under a Rule 10b5-1 trading plan adopted on June 28, 2026. Prior transactions disclosed within the past three months include:

• November 3, 2026: Sold 18,955 shares for gross proceeds of $6,705,280.07
• November 2, 2026: Sold 18,222 shares for gross proceeds of $6,543,019.10

Combined with the current notice, planned dispositions total over 56,200 shares representing approximately $19.9 million across early November 2026.

Market Impact & Significance

Because the proposed transaction constitutes less than 0.01% of Palo Alto Networks' 818 million total shares outstanding and follows a pre-established Rule 10b5-1 trading plan, the market impact is considered Medium to low, reflecting routine executive compensation equity monetization following annual PSU vesting.