---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-163506"
form_type: "8-K"
ticker: "PANW"
cik: "0001327567"
company_name: "Palo Alto Networks Inc"
filed_at: "2023-06-08T23:59:59+00:00"
generated_at: "2026-06-14T04:46:50.678081+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Palo Alto Networks CEO Nikesh Arora sells 549,838 shares, adopts 10b5-1 plan for up to 2M more shares

## Summary
- CEO sold ~549,838 shares on June 6-7, 2023, including ~474,300 from expiring option exercises.
- Adopted Rule 10b5-1 trading plan to sell up to ~2,000,000 additional shares from ~Sept 2023 through ~Aug 2024.
- Proceeds will fund option exercises, satisfy tax obligations, and diversify CEO's holdings.
- CEO certified no material non-public information at time of sales or plan adoption.

## SEC filing metadata
- accession: 0001193125-23-163506
- form_type: 8-K
- ticker: PANW
- cik: 0001327567
- company_name: Palo Alto Networks Inc
- filed_at: 2023-06-08T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327567/000119312523163506/0001193125-23-163506-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327567/000119312523163506/d515129d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-163506
- JSON: https://secwatch.observer/filing/0001193125-23-163506.json
- Plain text: https://secwatch.observer/filing/0001193125-23-163506.txt

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