secwatch.observer — SEC 8-K summary
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Issuer:     Palo Alto Networks Inc (PANW)
CIK:        0001327567
Form:       8-K
Filed at:   2026-08-21T20:15:18+00:00
Accession:  0001193125-26-361122
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Palo Alto Networks adopts executive CIC severance policy and amended bylaws
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- New severance policy effective Aug 20, 2026; covers SVP+ who sign participation agreements.
- Named execs: CEO Nikesh Arora, CFO Dipak Golechha, President BJ Jenkins, CPTO Lee Klarich.
- Non-CIC termination: 100% salary severance, 12 months health, 12 months equity acceleration.
- CIC termination: CEO gets 200% salary/incentive, 24 months health; other execs 150%, 18 months.
- Bylaws amended Aug 20 to align with Delaware law; updates to stockholder meetings, quorum, indemnification.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1327567/000119312526361122/0001193125-26-361122-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1327567/000119312526361122/d180372d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-361122

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer