secwatch.observer — SEC 8-K summary
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Issuer:     Palo Alto Networks Inc (PANW)
CIK:        0001327567
Form:       8-K
Filed at:   2022-02-23T23:59:59+00:00
Accession:  0001193125-22-049906
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Palo Alto Networks adopts continued service policy; adds CIC severance for CFO and President
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- Continued Service Policy allows SVP+ employees to retain equity vesting if they resign at age 55+ with 5+ years tenure and stay as advisors.
- CFO Dipak Golechha and President BJ Jenkins receive change-in-control severance: lump sum base salary, 100% target incentive, 12 months COBRA.
- Change-in-control vesting accelerates time-based equity for 12 months post-termination if executive is fired without cause or resigns for good reason.
- No guaranteed benefits under the Policy; each award is individually assessed by the Compensation Committee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1327567/000119312522049906/0001193125-22-049906-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1327567/000119312522049906/d299236d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-049906

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