---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-315915"
form_type: "8-K"
ticker: "PANW"
cik: "0001327567"
company_name: "Palo Alto Networks Inc"
filed_at: "2025-12-11T23:59:59+00:00"
generated_at: "2026-05-16T13:28:25.180621+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Palo Alto Networks shareholders reject say-on-pay proposal; approve equity plan amendment and annual director elections

## Summary
- Advisory 'say-on-pay' proposal failed: 254M votes against, 221M for, 4.4M abstain.
- Equity plan amendment approved, adding 10M shares to 2021 Plan reserve.
- Shareholder proposal for annual director elections passed (443.6M for, 29.3M against).
- Three Class II directors elected: Donovan, Goetz, Thorning-Schmidt.
- Ernst & Young ratified as independent auditor for FY2026.

## SEC filing metadata
- accession: 0001193125-25-315915
- form_type: 8-K
- ticker: PANW
- cik: 0001327567
- company_name: Palo Alto Networks Inc
- filed_at: 2025-12-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327567/000119312525315915/0001193125-25-315915-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327567/000119312525315915/d15273d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-315915
- JSON: https://secwatch.observer/filing/0001193125-25-315915.json
- Plain text: https://secwatch.observer/filing/0001193125-25-315915.txt

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