secwatch.observer — SEC 8-K summary
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Issuer:     Palo Alto Networks Inc (PANW)
CIK:        0001327567
Form:       8-K
Filed at:   2023-06-05T23:59:59+00:00
Accession:  0001193125-23-160228
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Palo Alto Networks grants CEO Nikesh Arora PSUs up to 750k shares based on S&P 500 5-year relative TSR
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- PSUs range from 0 shares (below 40th percentile) to 750k shares (90th+ percentile) vs. S&P 500 over 5 years.
- If PANW stock price is lower at end than start, max payout capped at 500k shares even if outperformance.
- Vesting at certification date with a 1-year lock-up unless change in control occurs.
- Committee cites retention need, noted PANW revenue grew from $2.3B (FY18) to $5.5B (FY22) under Arora.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1327567/000119312523160228/0001193125-23-160228-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1327567/000119312523160228/d615128d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-160228

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