Form 4: Palo Alto Networks EVP Lee Klarich Executes Stock Option and Sells Shares Under 10b5-1 Plan

Lee Klarich, EVP and Chief Product Officer of Palo Alto Networks, exercised stock options and sold shares of common stock under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On October 4, 2024, Lee Klarich, the EVP and Chief Product Officer of Palo Alto Networks, exercised a stock option to acquire 60,000 shares of common stock at a price of $64.5033 per share.
• Simultaneously, Klarich sold a total of 60,000 shares of Palo Alto Networks common stock in a series of transactions at prices ranging from $336.345 to $342.85 per share.
• These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 22, 2023.
• Following these transactions, Klarich directly owns 159,009 shares of Palo Alto Networks common stock and indirectly owns 370,000 shares through the Klarich 2005 Trust.
• Klarich also holds options to purchase 732,079 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies. The use of Rule 10b5-1 plans allows insiders to sell shares over a period of time, avoiding concerns about trading on non-public information.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership.

Key Dates