---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-169870"
form_type: "8-K"
ticker: "PANW"
cik: "0001327567"
company_name: "Palo Alto Networks Inc"
filed_at: "2025-07-31T23:59:59+00:00"
generated_at: "2026-05-17T22:12:47.200729+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Palo Alto Networks to acquire CyberArk for 2.2005 PANW shares plus $45 cash per share

## Summary
- Merger consideration: 2.2005 PANW shares + $45 cash per CyberArk share; cash from balance sheet.
- CyberArk shareholders must approve; expected close by July 30, 2026 (possible extension to Oct 30, 2026).
- Termination fees: CyberArk pays $750M if it backs out for superior proposal; PANW pays $1B if regulatory issues prevent close.
- Boards of both companies unanimously approved; CyberArk board recommends to shareholders.
- Transaction subject to customary conditions including HSR and Israeli regulatory approvals.

## SEC filing metadata
- accession: 0001193125-25-169870
- form_type: 8-K
- ticker: PANW
- cik: 0001327567
- company_name: Palo Alto Networks Inc
- filed_at: 2025-07-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327567/000119312525169870/0001193125-25-169870-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327567/000119312525169870/d804159d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-169870
- JSON: https://secwatch.observer/filing/0001193125-25-169870.json
- Plain text: https://secwatch.observer/filing/0001193125-25-169870.txt

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