Palo Alto Networks (PANW)CEO sold ~$77.6M

~$77.6M

Approx. value · 382K sh @ $203.10

739K

Holds after · shares reported

Traded

Sep 23, 2025

Filed

Sep 24, 2025

The story around this disclosure

Every dated public record OQRO holds about the company from 60 days before to 120 days after, oldest first. It shows what was going on; none of it is a stated reason for the trade.

1. Dec 11, 2024CongressDisclosed purchase of PANW — reported range $1,001 - $15,000
2. Mar 3, 2025CongressDisclosed purchase of PANW — reported range $1,001 - $15,000
3. Mar 13, 2025CongressDisclosed purchase of PANW — reported range $1,001 - $15,000
4. Mar 17, 2025CongressDisclosed sale of PANW — reported range $1,001 - $15,000
5. Jun 9, 2025CongressDisclosed partial sale of PANW — reported range $1,001 - $15,000
6. Jul 10, 2025CongressDisclosed purchase of PANW — reported range $1,001 - $15,000
7. Jul 16, 2025CongressDisclosed sale of PANW — reported range $1,001 - $15,000
8. Aug 1, 2025Insider · 1 personInsiders: 8 sales (~$17.3M)
9. Aug 4, 2025Insider · 1 personInsiders: 5 sales (~$20.7M)
10. Aug 19, 2025CongressDisclosed sale of PANW — reported range $1,001 - $15,000
11. Aug 21, 2025InsiderOfficer sold ~$129K of PANW shares in the open market
12. Sep 2, 2025InsiderOfficer sold ~$131K of PANW shares in the open market
13. Sep 2, 2025CongressDisclosed purchase of PANW — reported range $100,001 - $250,000
14. Sep 3, 2025Insider · 1 personInsiders: 5 sales (~$23.1M)
15. Sep 23, 2025 · this disclosureInsider · Their largest sale since 2021CEO sold ~$77.6M of PANW shares in the open market

What came next

1. Sep 23, 2025Insider · 2 peopleInsiders: 11 sales (~$96.2M)
2. Oct 1, 2025InsiderOfficer sold ~$142K of PANW shares in the open market
3. Oct 6, 2025Insider · 1 personInsiders: 5 sales (~$25.6M)
4. Oct 24, 2025CongressDisclosed purchase of PANW — reported range $1,001 - $15,000
5. Oct 30, 20255% stakeThe Vanguard Group reported a passive stake (13G) of 9.8%
6. Nov 3, 2025Insider · 2 peopleInsiders: 7 sales (~$26.5M)
7. Nov 18, 2025Company filing · Form 8-K · Executive changeChanged a top executive or board member“On November 18, 2025, Mary Pat McCarthy provided notice of her retirement from the Board of Directors (the “Board”) of Palo Alto Networks, Inc., a Delaware corporation (the “Company”), to be effective on January 23, 2026.”
8. Nov 19, 2025Company filing · Form 8-K · Results, Reg FDReported its results, and shared information with investors (and 1 more item)
9. Dec 1, 2025InsiderOfficer sold ~$133K of PANW shares in the open market
10. Dec 3, 2025Insider · 1 personInsiders: 7 sales (~$23.2M)
11. Dec 8, 2025Insider · 1 personInsiders: 2 sales (~$2.4M)
12. Dec 9, 2025Company filing · Form 8-K · Executive change, Shareholder voteChanged a top executive or board member, and held a shareholder vote“On December 9, 2025, Palo Alto Networks, Inc. (the “ Company ”) held its 2025 Annual Meeting of Shareholders (the “ Annual Meeting ”). At the Annual Meeting, the Company’s shareholders approved an amendment to the Company’s 2021 Equity Incentive Plan (the “ 2021 Plan ”) to increase the number of shares of the Company’s common stock reserved for issuance under the 2021 Plan by 10,000,000 shares.”
13. Dec 9, 2025Insider · 1 personInsiders: 3 sales (~$2.4M)
14. Dec 11, 2025CongressDisclosed purchase of PANW — reported range $1,001 - $15,000
15. Dec 23, 2025InsiderCFO sold ~$941K of PANW shares in the open market
16. Dec 26, 2025Insider · 1 personInsiders: 2 sales (~$1.2M)
17. Jan 2, 2026Insider · 2 peopleInsiders: 2 sales (~$315K)
18. Jan 8, 2026Insider · 1 personInsiders: 5 sales (~$23.1M)

How to read SEC Form 4

Form 4 is the filing that officers, directors and owners of more than 10% of a US-listed company must send to the SEC within two business days after they buy, sell or otherwise change their holding of the company's stock.

Full guide: What is an SEC Form 4?

What else is on file for Palo Alto Networks

For Palo Alto Networks, OQRO holds 36 insider filings (SEC Form 4 or Form 144), 4 Congress trade reports and 107 fund holdings reports (13F) dated in the last 90 days.

These are records OQRO holds, counted by their date, not a measure of how much trading took place. Routine paperwork such as option exercises and tax withholding is left out. Everything for the company is on its PANW page.

Other recent filings by Nikesh Arora, Chief Executive Officer

• SEC Form 4 at Palo Alto Networks (PANW)Mar 28, 2026
• SEC Form 4 at Palo Alto Networks (PANW)Sep 24, 2025
• SEC Form 4 at Palo Alto Networks (PANW)Sep 24, 2025
• SEC Form 4 at Palo Alto Networks (PANW)Sep 24, 2025
• SEC Form 4 at Palo Alto Networks (PANW)Sep 24, 2025

The full history of Nikesh Arora, Chief Executive Officer is on the profile page.

How this filing works

• SEC Form 4
• Open-market purchase
• Rule 10b5-1 trading plans

Other disclosures at Palo Alto Networks

• SEC Form 144Oct 9, 2026
• SEC Form 4Oct 9, 2026
• SEC Form 4Oct 9, 2026
• SEC Form 144Oct 8, 2026
• SEC Form 4Oct 5, 2026
• SEC Form 4Sep 29, 2026

Everything OQRO holds on this company is on its PANW page.