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[Form 4] Palo Alto Networks, Inc. Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Very Negative)
Form Type
4
Rhea-AI Filing Summary

Form 4 shows KLA Corp. (KLAC) EVP & CFO Bren D. Higgins settling tax withholdings triggered by scheduled RSU vesting, not an open-market trade. Two Code 鈥淔鈥� transactions were reported:

  • 08/03/25: 722.381 shares withheld at $886.64 after 25 % of a 5,828-unit 2023 RSU grant vested.
  • 08/04/25: 738.743 shares withheld at the same price following 25 % vesting of a 5,961-unit 2022 RSU grant.

Post-withholding, Higgins directly owns 23,182.006 KLAC shares, including 13,213.912 unvested RSUs. Because Code 鈥淔鈥� indicates share retention for taxes, the filing is routine and signals no directional change in insider sentiment or corporate outlook.

Il Modulo 4 mostra che Bren D. Higgins, EVP e CFO di KLA Corp. (KLAC), ha regolato le ritenute fiscali generate dal vesting programmato delle RSU, non da un'operazione sul mercato aperto. Sono state riportate due transazioni con Codice 鈥淔鈥�:

  • 03/08/25: 722,381 azioni trattenute a 886,64 $ dopo il vesting del 25% di un grant RSU 2023 di 5.828 unit脿.
  • 04/08/25: 738,743 azioni trattenute allo stesso prezzo a seguito del vesting del 25% di un grant RSU 2022 di 5.961 unit脿.

Dopo le ritenute, Higgins detiene direttamente 23.182,006 azioni KLAC, comprese 13.213,912 RSU non ancora vestite. Poich茅 il Codice 鈥淔鈥� indica la trattenuta di azioni per il pagamento delle tasse, la segnalazione 猫 di routine e non indica cambiamenti nella percezione interna o nelle prospettive aziendali.

El Formulario 4 muestra que Bren D. Higgins, EVP y CFO de KLA Corp. (KLAC), liquid贸 las retenciones fiscales generadas por el vesting programado de RSU, no por una operaci贸n en el mercado abierto. Se reportaron dos transacciones con C贸digo 鈥淔鈥�:

  • 03/08/25: 722,381 acciones retenidas a $886.64 tras el vesting del 25% de una concesi贸n RSU 2023 de 5,828 unidades.
  • 04/08/25: 738,743 acciones retenidas al mismo precio luego del vesting del 25% de una concesi贸n RSU 2022 de 5,961 unidades.

Despu茅s de la retenci贸n, Higgins posee directamente 23,182.006 acciones de KLAC, incluyendo 13,213.912 RSU no vestidas. Dado que el C贸digo 鈥淔鈥� indica retenci贸n de acciones para impuestos, la presentaci贸n es rutinaria y no se帽ala un cambio en el sentimiento interno o en la perspectiva corporativa.

鞏戩嫕 4鞐� 霐半ゴ氅� KLA Corp.(KLAC)鞚� EVP 瓴� CFO鞚� Bren D. Higgins臧� 瓿店皽 鞁滌灔 瓯半灅臧� 鞎勲媽 鞓堨爼霅� RSU 氩犾姢韺呾溂搿� 氚滌儩頃� 靹戈笀 鞗愳矞歆曥垬毳� 鞝曥偘頄堨姷雼堧嫟. 霊� 瓯挫潣 旖旊摐 鈥淔鈥� 瓯半灅臧� 氤搓碃霅橃棃鞀惦媹雼�:

  • 2025雲� 8鞗� 3鞚�: 2023雲� RSU 5,828雼渼 欷� 25% 氩犾姢韺� 頉� 欤茧嫻 $886.64鞐� 722.381欤� 鞗愳矞歆曥垬.
  • 2025雲� 8鞗� 4鞚�: 2022雲� RSU 5,961雼渼 欷� 25% 氩犾姢韺� 頉� 臧欖潃 臧�瓴╈棎 738.743欤� 鞗愳矞歆曥垬.

鞗愳矞歆曥垬 頉� Higgins電� 23,182.006 KLAC 欤检嫕鞚� 歆侅爲 氤挫湢頃橁碃 鞛堨溂氅�, 鞚� 欷� 13,213.912欤茧姅 鞎勳 氩犾姢韺呺悩歆� 鞎婌潃 RSU鞛呺媹雼�. 旖旊摐 鈥淔鈥濍姅 靹戈笀 雮╇秬毳� 鞙勴暅 欤检嫕 氤挫湢毳� 鞚橂頃橂瘈搿�, 鞚措矆 鞁犼碃電� 鞚检儊鞝侅澑 鞝堨皑鞚措┌ 雮措秬鞛愳潣 鞁Μ雮� 須岇偓 鞝勲鞐� 氚╉枼靹� 氤�頇旊ゼ 雮橅儉雮挫 鞎婌姷雼堧嫟.

Le formulaire 4 montre que Bren D. Higgins, EVP et CFO de KLA Corp. (KLAC), a r茅gl茅 les retenues fiscales d茅clench茅es par le vesting programm茅 des RSU, et non par une transaction sur le march茅 ouvert. Deux transactions avec le code 芦 F 禄 ont 茅t茅 d茅clar茅es :

  • 03/08/25 : 722,381 actions retenues 脿 886,64 $ apr猫s le vesting de 25 % d'une attribution RSU 2023 de 5 828 unit茅s.
  • 04/08/25 : 738,743 actions retenues au m锚me prix suite au vesting de 25 % d'une attribution RSU 2022 de 5 961 unit茅s.

Apr猫s retenue, Higgins poss猫de directement 23 182,006 actions KLAC, dont 13 213,912 RSU non acquises. 脡tant donn茅 que le code 芦 F 禄 indique une r茅tention d鈥檃ctions pour les imp么ts, cette d茅claration est de routine et ne signale aucun changement d鈥檕rientation dans le sentiment des initi茅s ou les perspectives de l鈥檈ntreprise.

Formular 4 zeigt, dass Bren D. Higgins, EVP und CFO von KLA Corp. (KLAC), Steuerabz眉ge beglichen hat, die durch planm盲脽iges RSU-Vesting ausgel枚st wurden, nicht durch einen Handel am offenen Markt. Es wurden zwei Transaktionen mit Code 鈥濬鈥� gemeldet:

  • 03.08.25: 722,381 Aktien wurden zu 886,64 $ einbehalten, nachdem 25 % eines RSU-Zuteilung von 5.828 Einheiten aus 2023 vesteten.
  • 04.08.25: 738,743 Aktien wurden zum gleichen Preis einbehalten, nachdem 25 % eines RSU-Zuteilung von 5.961 Einheiten aus 2022 vesteten.

Nach der Einbehaltung besitzt Higgins direkt 23.182,006 KLAC-Aktien, darunter 13.213,912 unverfallene RSUs. Da Code 鈥濬鈥� die Zur眉ckbehaltung von Aktien f眉r Steuern anzeigt, ist die Meldung routinem盲脽ig und signalisiert keine Richtungs盲nderung in der Insider-Stimmung oder der Unternehmensperspektive.

Positive
  • None.
Negative
  • None.

Insights

TL;DR: Routine tax-withholding; no bullish or bearish signal.

These Code 鈥淔鈥� dispositions reflect automatic share surrender to cover taxes on vested RSUs. Higgins retains a sizable holding (鈮� 23 k shares), so equity exposure remains intact. No open-market selling or buying occurred, limiting market relevance. Neutral for valuation or sentiment models.

TL;DR: Standard Section 16 compliance; administrative.

The filing complies with Section 16(a) and Rule 10b5-1(c) disclosure standards. Transactions are plan-based, avoiding potential optics of opportunistic trading. No governance red flags emerge.

Il Modulo 4 mostra che Bren D. Higgins, EVP e CFO di KLA Corp. (KLAC), ha regolato le ritenute fiscali generate dal vesting programmato delle RSU, non da un'operazione sul mercato aperto. Sono state riportate due transazioni con Codice 鈥淔鈥�:

  • 03/08/25: 722,381 azioni trattenute a 886,64 $ dopo il vesting del 25% di un grant RSU 2023 di 5.828 unit脿.
  • 04/08/25: 738,743 azioni trattenute allo stesso prezzo a seguito del vesting del 25% di un grant RSU 2022 di 5.961 unit脿.

Dopo le ritenute, Higgins detiene direttamente 23.182,006 azioni KLAC, comprese 13.213,912 RSU non ancora vestite. Poich茅 il Codice 鈥淔鈥� indica la trattenuta di azioni per il pagamento delle tasse, la segnalazione 猫 di routine e non indica cambiamenti nella percezione interna o nelle prospettive aziendali.

El Formulario 4 muestra que Bren D. Higgins, EVP y CFO de KLA Corp. (KLAC), liquid贸 las retenciones fiscales generadas por el vesting programado de RSU, no por una operaci贸n en el mercado abierto. Se reportaron dos transacciones con C贸digo 鈥淔鈥�:

  • 03/08/25: 722,381 acciones retenidas a $886.64 tras el vesting del 25% de una concesi贸n RSU 2023 de 5,828 unidades.
  • 04/08/25: 738,743 acciones retenidas al mismo precio luego del vesting del 25% de una concesi贸n RSU 2022 de 5,961 unidades.

Despu茅s de la retenci贸n, Higgins posee directamente 23,182.006 acciones de KLAC, incluyendo 13,213.912 RSU no vestidas. Dado que el C贸digo 鈥淔鈥� indica retenci贸n de acciones para impuestos, la presentaci贸n es rutinaria y no se帽ala un cambio en el sentimiento interno o en la perspectiva corporativa.

鞏戩嫕 4鞐� 霐半ゴ氅� KLA Corp.(KLAC)鞚� EVP 瓴� CFO鞚� Bren D. Higgins臧� 瓿店皽 鞁滌灔 瓯半灅臧� 鞎勲媽 鞓堨爼霅� RSU 氩犾姢韺呾溂搿� 氚滌儩頃� 靹戈笀 鞗愳矞歆曥垬毳� 鞝曥偘頄堨姷雼堧嫟. 霊� 瓯挫潣 旖旊摐 鈥淔鈥� 瓯半灅臧� 氤搓碃霅橃棃鞀惦媹雼�:

  • 2025雲� 8鞗� 3鞚�: 2023雲� RSU 5,828雼渼 欷� 25% 氩犾姢韺� 頉� 欤茧嫻 $886.64鞐� 722.381欤� 鞗愳矞歆曥垬.
  • 2025雲� 8鞗� 4鞚�: 2022雲� RSU 5,961雼渼 欷� 25% 氩犾姢韺� 頉� 臧欖潃 臧�瓴╈棎 738.743欤� 鞗愳矞歆曥垬.

鞗愳矞歆曥垬 頉� Higgins電� 23,182.006 KLAC 欤检嫕鞚� 歆侅爲 氤挫湢頃橁碃 鞛堨溂氅�, 鞚� 欷� 13,213.912欤茧姅 鞎勳 氩犾姢韺呺悩歆� 鞎婌潃 RSU鞛呺媹雼�. 旖旊摐 鈥淔鈥濍姅 靹戈笀 雮╇秬毳� 鞙勴暅 欤检嫕 氤挫湢毳� 鞚橂頃橂瘈搿�, 鞚措矆 鞁犼碃電� 鞚检儊鞝侅澑 鞝堨皑鞚措┌ 雮措秬鞛愳潣 鞁Μ雮� 須岇偓 鞝勲鞐� 氚╉枼靹� 氤�頇旊ゼ 雮橅儉雮挫 鞎婌姷雼堧嫟.

Le formulaire 4 montre que Bren D. Higgins, EVP et CFO de KLA Corp. (KLAC), a r茅gl茅 les retenues fiscales d茅clench茅es par le vesting programm茅 des RSU, et non par une transaction sur le march茅 ouvert. Deux transactions avec le code 芦 F 禄 ont 茅t茅 d茅clar茅es :

  • 03/08/25 : 722,381 actions retenues 脿 886,64 $ apr猫s le vesting de 25 % d'une attribution RSU 2023 de 5 828 unit茅s.
  • 04/08/25 : 738,743 actions retenues au m锚me prix suite au vesting de 25 % d'une attribution RSU 2022 de 5 961 unit茅s.

Apr猫s retenue, Higgins poss猫de directement 23 182,006 actions KLAC, dont 13 213,912 RSU non acquises. 脡tant donn茅 que le code 芦 F 禄 indique une r茅tention d鈥檃ctions pour les imp么ts, cette d茅claration est de routine et ne signale aucun changement d鈥檕rientation dans le sentiment des initi茅s ou les perspectives de l鈥檈ntreprise.

Formular 4 zeigt, dass Bren D. Higgins, EVP und CFO von KLA Corp. (KLAC), Steuerabz眉ge beglichen hat, die durch planm盲脽iges RSU-Vesting ausgel枚st wurden, nicht durch einen Handel am offenen Markt. Es wurden zwei Transaktionen mit Code 鈥濬鈥� gemeldet:

  • 03.08.25: 722,381 Aktien wurden zu 886,64 $ einbehalten, nachdem 25 % eines RSU-Zuteilung von 5.828 Einheiten aus 2023 vesteten.
  • 04.08.25: 738,743 Aktien wurden zum gleichen Preis einbehalten, nachdem 25 % eines RSU-Zuteilung von 5.961 Einheiten aus 2022 vesteten.

Nach der Einbehaltung besitzt Higgins direkt 23.182,006 KLAC-Aktien, darunter 13.213,912 unverfallene RSUs. Da Code 鈥濬鈥� die Zur眉ckbehaltung von Aktien f眉r Steuern anzeigt, ist die Meldung routinem盲脽ig und signalisiert keine Richtungs盲nderung in der Insider-Stimmung oder der Unternehmensperspektive.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
 Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Klarich Lee
(Last) (First) (Middle)
C/O PALO ALTO NETWORKS INC.
3000 TANNERY WAY
(Street)
SANTA CLARA CA 95054
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Palo Alto Networks Inc [ PANW ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, Chief Product Officer
3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/04/2025 M 92,010 A $32.25 327,492 D
Common Stock 08/04/2025 S(1) 63,606 D $170.799(2) 263,886 D
Common Stock 08/04/2025 S(1) 25,010 D $171.411(3) 238,876 D
Common Stock 08/04/2025 S(1) 15,312 D $172.692(4) 223,564 D
Common Stock 08/04/2025 S(1) 16,417 D $173.772(5) 207,147 D
Common Stock 08/04/2025 S(1) 429 D $174.153(6) 206,718 D
Common Stock 740,000 I See footnote(7)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $32.25 08/04/2025 M 92,010 (8) 10/19/2025 Common Stock 92,010 $0 460,050 D
Explanation of Responses:
1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 27, 2024.
2. This sale price represents the weighted average sale price of the shares sold ranging from $170.105 to $171.10 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
3. This sale price represents the weighted average sale price of the shares sold ranging from $171.105 to $172.09 per share. Upon request by the Commission staff, the Issuer, or a security holder of the 1Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
4. This sale price represents the weighted average sale price of the shares sold ranging from $172.12 to $173.11 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
5. This sale price represents the weighted average sale price of the shares sold ranging from $173.12 to $174.11 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
6. This sale price represents the weighted average sale price of the shares sold ranging from $174.12 to $174.195 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
7. Shares are held by the Klarich 2005 Trust, for which the Reporting Person and his spouse serve as trustees.
8. The shares subject to the option are fully vested and exercisable.
/s/ Elizabeth Villalobos, Attorney-in-Fact for Lee Klarich 08/05/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

How many KLA (KLAC) shares did CFO Bren Higgins dispose of?

A total of 1,461.124 shares were withheld for taxes across two vesting events.

What price was used for the tax-withholding transactions?

Both withholdings were calculated at the $886.64 closing price on 08/01/25.

How many KLAC shares does the CFO now own?

Higgins now directly owns 23,182.006 shares, including unvested RSUs.

What does transaction code 鈥淔鈥� mean on Form 4 filings?

Code 鈥淔鈥� indicates shares were withheld by the issuer solely to pay taxes due on equity-award vesting.

Is this insider activity considered a sell signal for KLAC stock?

No; the shares were surrendered for tax purposes and do not reflect discretionary selling.
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Palo Alto

NASDAQ:PANW

PANW Rankings

#157 Ranked by Market Cap
N/A Ranked by Dividends

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PANW Latest SEC Filings

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PANW Stock Data

112.94B
661.43M
0.97%
81.8%
4%
Software - Infrastructure
Computer Peripheral Equipment, Nec
United States
SANTA CLARA