Form 4: Palo Alto Networks EVP Lee Klarich Reports Stock Transaction

Lee Klarich, EVP and Chief Product Officer of Palo Alto Networks, reports a transaction involving common stock to cover tax obligations related to vesting restricted stock units.

Summary

• Lee Klarich, EVP and Chief Product Officer at Palo Alto Networks, filed a Form 4.
• The filing reports a transaction on July 20, 2024, where 7,533 shares of common stock were withheld by Palo Alto Networks to cover income tax obligations related to the vesting of restricted stock units at a price of $330.89.
• Following the transaction, Klarich directly owns 159,009 shares and indirectly owns 400,000 shares through the Lee and Susan Klarich 2005 Trust.
• The reporting person and his spouse serve as trustees for the Lee and Susan Klarich 2005 Trust.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves a small number of shares withheld for tax purposes.

Key Dates