---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-295527"
form_type: "8-K"
ticker: "PANW"
cik: "0001327567"
company_name: "Palo Alto Networks Inc"
filed_at: "2023-12-14T23:59:59+00:00"
generated_at: "2026-06-07T12:36:04.512656+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Palo Alto Networks shareholders reject advisory vote on exec comp, approve equity plan amendment

## Summary
- Shareholders approved amendment to 2021 Equity Incentive Plan, increasing share reserve by 5 million shares.
- Advisory vote on executive compensation failed: 85.1M for, 136.2M against, 43.6M broker non-votes.
- All four Class III director nominees elected: Nikesh Arora, Aparna Bawa, Carl Eschenbach, Lorraine Twohill.
- Ratification of Ernst & Young as independent auditor for FY2024 approved with 264.9M votes for.

## SEC filing metadata
- accession: 0001193125-23-295527
- form_type: 8-K
- ticker: PANW
- cik: 0001327567
- company_name: Palo Alto Networks Inc
- filed_at: 2023-12-14T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327567/000119312523295527/0001193125-23-295527-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327567/000119312523295527/d596427d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-295527
- JSON: https://secwatch.observer/filing/0001193125-23-295527.json
- Plain text: https://secwatch.observer/filing/0001193125-23-295527.txt

## Key facts
- Shareholder Votes
  Palo Alto Networks Inc shareholders approved Ratification of the Appointment of Independent Registered Public Accounting Firm at the 2024-07-31 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2024-07-31
  source text: The Company’s stockholders ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the Company’s fiscal year ending July 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327567/000119312523295527/0001193125-23-295527-index.htm
- Shareholder Votes
  Palo Alto Networks Inc shareholders rejected Advisory vote on executive compensation.
  - Proposal: say on pay
  - Outcome: failed
  source text: The Company’s stockholders cast their votes with respect to an advisory vote on executive compensation as follows:
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327567/000119312523295527/0001193125-23-295527-index.htm
- Shareholder Votes
  Palo Alto Networks Inc shareholders approved Election of Class III directors.
  - Proposal: director election
  - Outcome: passed
  source text: The Company’s stockholders elected the following nominees as Class III directors to serve until the Company’s 2026 Annual Meeting of Stockholders or until their respective successors are duly elected and qualified:
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327567/000119312523295527/0001193125-23-295527-index.htm
- Shareholder Votes
  Palo Alto Networks Inc shareholders approved Amendment to 2021 Equity Incentive Plan to increase the number of plan shares reserved for future issuance.
  - Proposal: equity plan
  - Outcome: passed
  source text: The Company’s stockholders approved an amendment to the 2021 Plan to increase the number of plan shares reserved for future issuance.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327567/000119312523295527/0001193125-23-295527-index.htm

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