---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-151637"
form_type: "8-K"
ticker: "PANW"
cik: "0001327567"
company_name: "Palo Alto Networks Inc"
filed_at: "2026-04-13T23:59:59+00:00"
generated_at: "2026-05-15T06:33:24.702847+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Palo Alto Networks extends Santa Clara HQ leases through 2040 with $68.2M tenant improvement allowance

## Summary
- Extended leases for Buildings E, G, F+H: ~940k sq ft for 12 years starting Aug 1, 2028.
- Monthly base rent $3.825/sq ft after 12-month abatement; 2% annual escalations.
- Tenant improvement allowance up to $72.50/sq ft (~$68.2M total) for required improvements.
- Lease term can be extended two additional six-year periods through 2052.
- Building E rent schedule shows $13.1M annually in year 2, rising to $16.2M by year 12.

## SEC filing metadata
- accession: 0001193125-26-151637
- form_type: 8-K
- ticker: PANW
- cik: 0001327567
- company_name: Palo Alto Networks Inc
- filed_at: 2026-04-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327567/000119312526151637/0001193125-26-151637-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327567/000119312526151637/d49517d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-151637
- JSON: https://secwatch.observer/filing/0001193125-26-151637.json
- Plain text: https://secwatch.observer/filing/0001193125-26-151637.txt

## Source-grounded claims
- claim_id: 03314e744b4ae979173f6131c6374e90149148a7
  claim: Palo Alto Networks Inc amended lease obligation of Base rent of $3.825 per rentable square foot per month, with 2% annual increases, and tenant improvement allowance of up with Santa Clara Phase III EFH, LLC and Santa Clara Phase III G, LLC at No explicit interest rate; rent escalates at 2% annually maturing July 31, 2040.
  evidence_excerpt: Under the Amendments, the term of the Leases will be extended for a period of twelve (12) years commencing on August 1, 2028 and expiring on July 31, 2040 (the “Extended Term”). Base rent under the Leases will be abated during the first twelve (12) months of the Extended Term. Thereafter, base rent will be payable in the amount of $3.825 per rentable square foot, per month, with 2% annual increases. The Company has the right to further extend the term of the Leases for two (2) additional periods of six (6) years each. Under the Amendments, the Landlord is required to provide a tenant improvement allowance in the amount of up to $72.50 per rentable square foot for the construction of certain improvements to the Leased Property required by the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327567/000119312526151637/0001193125-26-151637-index.htm
- claim_id: 56bf68f6f8ff56d840679e994fb96b6693d922d8
  claim: Palo Alto Networks Inc amended Amendments with Santa Clara Phase III EFH, LLC and Santa Clara Phase III G, LLC (effective 2026-04-08).
  evidence_excerpt: On April 8, 2026, Palo Alto Networks, Inc. (the “Company”) entered into three lease amendments (collectively, the “Amendments”) extending the term of the Company’s leases (collectively, the “Leases”) of the following properties: (i) Building E comprised of approximately 290,082 rentable square feet and located at 3000 Tannery Way, Santa Clara, California, (ii) Building G comprised of approximately 309,559 square feet and located at 3200 Tannery Way, Santa Clara, California, and (iii) Building F and H comprised of approximately 340,923 rentable square feet and located at 3100 and 3130 Tannery Way, Santa Clara, California (collectively, the “Leased Property”). The amendments for Buildings E, F and H were entered into with Santa Clara Phase III EFH, LLC. The amendment for Building G was entered into with Santa Clara Phase III G, LLC.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327567/000119312526151637/0001193125-26-151637-index.htm

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