---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-157474"
form_type: "8-K"
ticker: "PANW"
cik: "0001327567"
company_name: "Palo Alto Networks Inc"
filed_at: "2022-05-23T23:59:59+00:00"
generated_at: "2026-06-25T08:08:33.251172+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Palo Alto Networks switches to majority voting for directors; creates deferred comp plan for executives

## Summary
- Board adopted majority voting standard for director elections (more for than against); incumbent directors failing to secure majority must tender resignation.
- If director fails to receive majority, resignation considered by ESG/Nominating Committee within 90 days; Board must disclose decision in SEC filing.
- Also adopted Deferred Compensation Plan for VP+ employees, including executive officers, allowing deferral of salary, bonuses, commissions, RSUs, and PSUs.
- Deferred amounts are unfunded and unsecured; investment options include notional shares of PANW common stock.
- Equity deferrals vest upon satisfaction of underlying award conditions; payments in shares from Equity Plan or cash if insufficient shares.

## SEC filing metadata
- accession: 0001193125-22-157474
- form_type: 8-K
- ticker: PANW
- cik: 0001327567
- company_name: Palo Alto Networks Inc
- filed_at: 2022-05-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327567/000119312522157474/0001193125-22-157474-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327567/000119312522157474/d274773d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-157474
- JSON: https://secwatch.observer/filing/0001193125-22-157474.json
- Plain text: https://secwatch.observer/filing/0001193125-22-157474.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.