SEC Form 4 · accession 0001209191-18-057143

Palo Alto Networks Inc · PANW

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — President

Period of report

Nov 2, 2018

Accepted (ET)

Nov 5, 2018 · 4:10 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001327567

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	Nov 2, 2018	A	47,981	$0.00	A	47,981	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Performance Stock Option (right to buy)^F2	$184.24	Nov 2, 2018	A	434,145	A	—	Nov 2, 2028	Common Stock	434,145	434,145	D

F1Each share is represented by a Restricted Stock Unit ("RSU") and a contingent right to receive one share of PANW common stock for each RSU. The RSUs will vest over a four-year period with 40% vesting on November 2, 2019; 30% vesting during the second year in four equal quarterly increments; 20% vesting during the third year in four equal quarterly increments and 10% vesting during the fourth year in four equal quarterly increments, subject to the Reporting Person continuing to be a Service Provider through each vesting date.
F2The shares subject to the Performance Stock Option become eligible to vest ("Eligible Option Shares") upon achievement of certain stock price targets (the "Stock Price Achievements") during applicable performance windows. To the extent that Stock Price Achievements have been met, Eligible Option Shares will vest as to 1/4 of such shares on each annual anniversary of November 2, subject to the Reporting Person continuing to be a Service Provider through each vesting date.