Palo Alto Networks insider activity
What the executives and directors of Palo Alto Networks actually did with their own shares, decoded from their SEC Form 4 filings. Each figure says the stretch of time it covers.
−$304M
net open-market flow, 12 m
2 open-market buys, 12 m
93.9%
of sale value on 10b5-1 plans, 12 m
178 days since an insider bought, whole record
The tape: three years of insider trades
Open-market buy
Discretionary sale
Planned sale (10b5-1)
Reported-price path
Routine
Every marker sits at the price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the grey strip is the routine flow (grants, vestings, tax withholding and gifts) that a headline gets wrong by counting it as selling. The share count changed 3-for-1 on Oct 3, 2022 and 2-for-1 on Dec 16, 2024, so prices and share counts reported before then are restated to today's basis here; otherwise the tape would show a step the shares never took.
The 120 routine events on the chart, as a list
| Date | Insider | Shares |
|---|---|---|
| Sep 1, 2026 | Thorning-Schmidt Helle | 211 |
| Aug 21, 2026 | Paul Josh D. | 1,529 |
| Aug 1, 2026 | Paul Josh D. | 3,861 |
| Jul 1, 2026 | Paul Josh D. | 1,092 |
| Jun 1, 2026 | Thorning-Schmidt Helle | 211 |
| Apr 1, 2026 | Paul Josh D. | 947 |
| Mar 10, 2026 | Paul Josh D. | 26K |
| Mar 1, 2026 | Thorning-Schmidt Helle | 345 |
| Feb 12, 2026 | Arora Nikesh | 165 |
| Feb 12, 2026 | Klarich Lee | 70 |
| Feb 12, 2026 | Bawa Aparna | 24 |
| Jan 8, 2026 | Klarich Lee | 92K |
| Dec 10, 2025 | Klarich Lee | 50K |
| Dec 10, 2025 | Goodburn Mark A. | 4,944 |
| Dec 9, 2025 | Donovan John | 2,516 |
| Dec 9, 2025 | Eschenbach Carl M. | 1,881 |
| Dec 9, 2025 | Twohill Lorraine | 2,135 |
| Dec 9, 2025 | McCarthy Mary Pat | 2,033 |
| Dec 9, 2025 | Key John P. | 2,288 |
| Dec 9, 2025 | Bawa Aparna | 2,160 |
| Dec 9, 2025 | Thorning-Schmidt Helle | 1,983 |
| Dec 3, 2025 | Klarich Lee | 92K |
| Nov 26, 2025 | Golechha Dipak | 2,500 |
| Nov 3, 2025 | Klarich Lee | 92K |
| Nov 1, 2025 | Arora Nikesh | 1.2M |
| Nov 1, 2025 | Jenkins William D Jr | 476K |
| Nov 1, 2025 | Klarich Lee | 700K |
| Nov 1, 2025 | Golechha Dipak | 355K |
| Nov 1, 2025 | Paul Josh D. | 47K |
| Oct 6, 2025 | Klarich Lee | 92K |
| Sep 23, 2025 | Arora Nikesh | 846K |
| Sep 20, 2025 | Paul Josh D. | 1,964 |
| Sep 18, 2025 | Klarich Lee | 50K |
| Sep 3, 2025 | Klarich Lee | 92K |
| Aug 23, 2025 | Paul Josh D. | 18K |
| Aug 4, 2025 | Klarich Lee | 92K |
| Aug 1, 2025 | Paul Josh D. | 1,482 |
| Jul 7, 2025 | Klarich Lee | 92K |
| Jun 20, 2025 | Paul Josh D. | 1,841 |
| Jun 4, 2025 | Klarich Lee | 92K |
| May 5, 2025 | Klarich Lee | 92K |
| Apr 7, 2025 | Klarich Lee | 92K |
| Apr 3, 2025 | Arora Nikesh | 788K |
| Mar 20, 2025 | Golechha Dipak | 3,342 |
| Mar 20, 2025 | Paul Josh D. | 1,400 |
| Mar 11, 2025 | Hamers Ralph | 5,171 |
| Mar 11, 2025 | Thorning-Schmidt Helle | 5,171 |
| Mar 5, 2025 | Arora Nikesh | 788K |
| Mar 3, 2025 | Klarich Lee | 92K |
| Feb 21, 2025 | Golechha Dipak | 7,500 |
| Feb 4, 2025 | Arora Nikesh | 788K |
| Feb 3, 2025 | Klarich Lee | 92K |
| Jan 6, 2025 | Arora Nikesh | 176K |
| Jan 6, 2025 | Klarich Lee | 120K |
| Jan 3, 2025 | Arora Nikesh | 612K |
| Dec 20, 2024 | Golechha Dipak | 6,620 |
| Dec 20, 2024 | Paul Josh D. | 1,964 |
| Dec 10, 2024 | Donovan John | 2,184 |
| Dec 10, 2024 | Eschenbach Carl M. | 1,778 |
| Dec 10, 2024 | Gayle Helene D | 1,830 |
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price. The share count changed 3-for-1 on Oct 3, 2022 and 2-for-1 on Dec 16, 2024, so share counts reported before then are restated to today's basis here.
The chart, in numbers
| Flow | Shares |
|---|---|
| Granted | 2.3M |
| Vested / exercised | 1.2M |
| Bought on market | 68K |
| Withheld for tax | 1.8M |
| Planned sales (10b5-1) | 1.4M |
| Discretionary sales | 85K |
| Gifts | 103K |
| Kept | 169K |
Skin in the game
Directly held shares as reported after each trade, indexed to 100 at the start of the window, up to five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades. The share count changed 3-for-1 on Oct 3, 2022 and 2-for-1 on Dec 16, 2024, so share counts reported before then are restated to today's basis here.
The chart, in numbers
| Insider | Start of the window | Latest reported | Indexed, start = 100 |
|---|---|---|---|
| ZUK NIR | 4.8M | 3.1M | 65.8 |
| Klarich Lee | 1.6M | 272K | 17.5 |
| Arora Nikesh | 3.0M | 343K | 11.6 |
| Golechha Dipak | 214K | 145K | 67.9 |
Who holds what
the 14 largest holdings of 17| Insider | Role | Shares held | Buys 12 m | Sales 12 m | 12 m | Last trade |
|---|---|---|---|---|---|---|
| ZUK NIR EVP, Chief Technology Officer Last trade Aug 1, 2025 | Officer | 3.8M | – | – | Aug 1, 2025 | |
| Klarich Lee EVP Chief Product & Tech Ofcr Last trade May 22, 2026 | Officer | 938K | – | $114M | net selling over the year: 0 months buying, 5 months selling | May 22, 2026 |
| Arora Nikesh Chief Executive Officer Last trade Mar 27, 2026 | CEO | 343K | $10.0M | $173M | net selling over the year: 1 month buying, 1 month selling | Mar 27, 2026 |
| GOETZ JAMES J Last trade Jun 12, 2026 | Director | 215K | – | $14M | net selling over the year: 0 months buying, 3 months selling | Jun 12, 2026 |
| Golechha Dipak EVP, Chief Financial Officer Last trade Jun 23, 2026 | CFO | 150K | – | $4.2M | net selling over the year: 0 months buying, 4 months selling | Jun 23, 2026 |
| Jenkins William D Jr President Last trade Jan 2, 2026 | Officer | 148K | – | $1.3M | net selling over the year: 0 months buying, 2 months selling | Jan 2, 2026 |
| Paul Josh D. Chief Accounting Officer Last trade Sep 1, 2026 | Officer | 72K | – | $2.4M | net selling over the year: 0 months buying, 11 months selling | Sep 1, 2026 |
| McCarthy Mary Pat Last trade Dec 12, 2024 | Director | 55K | – | – | Dec 12, 2024 | |
| Donovan John Last trade Feb 8, 2024 | Director | 49K | – | – | Feb 8, 2024 | |
| Twohill Lorraine | Director | 44K | – | – | – | |
| Eschenbach Carl M. Last trade Dec 4, 2024 | Director | 22K | – | – | Dec 4, 2024 | |
| Gayle Helene D | Director | 13K | – | – | – | |
| Key John P. Last trade Sep 14, 2026 | Director | 10K | – | $3.3M | net selling over the year: 0 months buying, 3 months selling | Sep 14, 2026 |
| Bawa Aparna Last trade Sep 15, 2026 | Director | 7,121 | – | $1.4M | net selling over the year: 0 months buying, 3 months selling | Sep 15, 2026 |
Open-market trade log
the 60 most recent of 2,570| Date | Insider | Type | Shares | Price | Value | Since trade | Filed |
|---|---|---|---|---|---|---|---|
| Sep 15, 2026 | Bawa Aparna (Director) 500 shares $377.18 −0.3% since trade filed Sep 16, 2026 | Discretionary sale | 500 | $377.18 | $189K | −0.3% | Sep 16, 2026 |
| Sep 14, 2026 | Key John P. (Director) 2,500 shares $376.03 +0.0% since trade filed Sep 16, 2026 | Discretionary sale | 2,500 | $376.03 | $940K | +0.0% | Sep 16, 2026 |
| Sep 14, 2026 | Bawa Aparna (Director) 1,000 shares $373.61 +0.7% since trade filed Sep 16, 2026 | Discretionary sale | 1,000 | $373.61 | $374K | +0.7% | Sep 16, 2026 |
| Sep 1, 2026 | Paul Josh D. (Officer) 900 shares $373.68 +0.6% since trade filed Sep 3, 2026 | Planned sale (10b5-1) | 900 | $373.68 | $336K | +0.6% | Sep 3, 2026 |
| Aug 25, 2026 | Paul Josh D. (Officer) 900 shares $353.77 +6.3% since trade filed Aug 27, 2026 | Planned sale (10b5-1) | 900 | $353.77 | $318K | +6.3% | Aug 27, 2026 |
| Jul 7, 2026 | Thorning-Schmidt Helle (Director) 700 shares $346.85 +8.4% since trade filed Jul 8, 2026 | Discretionary sale | 700 | $346.85 | $243K | +8.4% | Jul 8, 2026 |
| Jul 1, 2026 | Bawa Aparna (Director) 290 shares $348.74 +7.8% since trade filed Jul 1, 2026 | Discretionary sale | 290 | $348.74 | $101K | +7.8% | Jul 1, 2026 |
| Jul 1, 2026 | Paul Josh D. (Officer) 900 shares $345.00 +9.0% since trade filed Jul 1, 2026 | Planned sale (10b5-1) | 900 | $345.00 | $311K | +9.0% | Jul 1, 2026 |
| Jun 29, 2026 | Bawa Aparna (Director) 305 shares $328.14 +14.6% since trade filed Jul 1, 2026 | Discretionary sale | 305 | $328.14 | $100K | +14.6% | Jul 1, 2026 |
| Jun 29, 2026 | Bawa Aparna (Director) 327 shares $309.83 +21.4% since trade filed Jul 1, 2026 | Discretionary sale | 327 | $309.83 | $101K | +21.4% | Jul 1, 2026 |
| Jun 23, 2026 | Golechha Dipak (CFO) 200 shares $286.68 +31.2% since trade filed Jun 24, 2026 | Planned sale (10b5-1) | 200 | $286.68 | $57K | +31.2% | Jun 24, 2026 |
| Jun 23, 2026 | Golechha Dipak (CFO) 214 shares $291.84 +28.9% since trade filed Jun 24, 2026 | Planned sale (10b5-1) | 214 | $291.84 | $62K | +28.9% | Jun 24, 2026 |
| Jun 23, 2026 | Golechha Dipak (CFO) 300 shares $284.80 +32.0% since trade filed Jun 24, 2026 | Planned sale (10b5-1) | 300 | $284.80 | $85K | +32.0% | Jun 24, 2026 |
| Jun 23, 2026 | Golechha Dipak (CFO) 886 shares $291.07 +29.2% since trade filed Jun 24, 2026 | Planned sale (10b5-1) | 886 | $291.07 | $258K | +29.2% | Jun 24, 2026 |
| Jun 23, 2026 | Golechha Dipak (CFO) 1,300 shares $288.96 +30.1% since trade filed Jun 24, 2026 | Planned sale (10b5-1) | 1,300 | $288.96 | $376K | +30.1% | Jun 24, 2026 |
| Jun 23, 2026 | Golechha Dipak (CFO) 2,100 shares $290.03 +29.7% since trade filed Jun 24, 2026 | Planned sale (10b5-1) | 2,100 | $290.03 | $609K | +29.7% | Jun 24, 2026 |
| Jun 22, 2026 | Bawa Aparna (Director) 345 shares $290.17 +29.6% since trade filed Jun 22, 2026 | Discretionary sale | 345 | $290.17 | $100K | +29.6% | Jun 22, 2026 |
| Jun 12, 2026 | GOETZ JAMES J (Director) 1,400 shares $277.89 +35.3% since trade filed Jun 16, 2026 | Discretionary sale | 1,400 | $277.89 | $389K | +35.3% | Jun 16, 2026 |
| Jun 12, 2026 | GOETZ JAMES J (Director) 1,493 shares $281.64 +33.5% since trade filed Jun 16, 2026 | Discretionary sale | 1,493 | $281.64 | $420K | +33.5% | Jun 16, 2026 |
| Jun 12, 2026 | GOETZ JAMES J (Director) 4,800 shares $278.89 +34.8% since trade filed Jun 16, 2026 | Discretionary sale | 4,800 | $278.89 | $1.3M | +34.8% | Jun 16, 2026 |
| Jun 12, 2026 | GOETZ JAMES J (Director) 5,193 shares $280.89 +33.9% since trade filed Jun 16, 2026 | Discretionary sale | 5,193 | $280.89 | $1.5M | +33.9% | Jun 16, 2026 |
| Jun 12, 2026 | GOETZ JAMES J (Director) 7,114 shares $279.88 +34.4% since trade filed Jun 16, 2026 | Discretionary sale | 7,114 | $279.88 | $2.0M | +34.4% | Jun 16, 2026 |
| Jun 12, 2026 | Key John P. (Director) 7,500 shares $279.24 +34.7% since trade filed Jun 12, 2026 | Discretionary sale | 7,500 | $279.24 | $2.1M | +34.7% | Jun 12, 2026 |
| Jun 12, 2026 | Bawa Aparna (Director) 536 shares $280.00 +34.3% since trade filed Jun 12, 2026 | Discretionary sale | 536 | $280.00 | $150K | +34.3% | Jun 12, 2026 |
| Jun 11, 2026 | Bawa Aparna (Director) 555 shares $270.00 +39.3% since trade filed Jun 12, 2026 | Discretionary sale | 555 | $270.00 | $150K | +39.3% | Jun 12, 2026 |
| Jun 10, 2026 | Bawa Aparna (Director) 377 shares $265.00 +41.9% since trade filed Jun 12, 2026 | Discretionary sale | 377 | $265.00 | $100K | +41.9% | Jun 12, 2026 |
| Jun 1, 2026 | Paul Josh D. (Officer) 1,100 shares $285.08 +31.9% since trade filed Jun 2, 2026 | Planned sale (10b5-1) | 1,100 | $285.08 | $314K | +31.9% | Jun 2, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 320 shares $253.25 +48.5% since trade filed May 27, 2026 | Planned sale (10b5-1) | 320 | $253.25 | $81K | +48.5% | May 27, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 519 shares $251.20 +49.7% since trade filed May 27, 2026 | Planned sale (10b5-1) | 519 | $251.20 | $130K | +49.7% | May 27, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 543 shares $250.03 +50.4% since trade filed May 27, 2026 | Planned sale (10b5-1) | 543 | $250.03 | $136K | +50.4% | May 27, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 582 shares $251.94 +49.3% since trade filed May 27, 2026 | Planned sale (10b5-1) | 582 | $251.94 | $147K | +49.3% | May 27, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 923 shares $261.25 +43.9% since trade filed May 27, 2026 | Planned sale (10b5-1) | 923 | $261.25 | $241K | +43.9% | May 27, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 2,875 shares $256.60 +46.5% since trade filed May 27, 2026 | Planned sale (10b5-1) | 2,875 | $256.60 | $738K | +46.5% | May 27, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 2,897 shares $257.63 +46.0% since trade filed May 27, 2026 | Planned sale (10b5-1) | 2,897 | $257.63 | $746K | +46.0% | May 27, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 4,205 shares $254.85 +47.6% since trade filed May 27, 2026 | Planned sale (10b5-1) | 4,205 | $254.85 | $1.1M | +47.6% | May 27, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 4,694 shares $255.58 +47.1% since trade filed May 27, 2026 | Planned sale (10b5-1) | 4,694 | $255.58 | $1.2M | +47.1% | May 27, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 10K shares $258.70 +45.4% since trade filed May 27, 2026 | Planned sale (10b5-1) | 10K | $258.70 | $2.7M | +45.4% | May 27, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 17K shares $260.62 +44.3% since trade filed May 27, 2026 | Planned sale (10b5-1) | 17K | $260.62 | $4.4M | +44.3% | May 27, 2026 |
| May 22, 2026 | Klarich Lee (Officer) 18K shares $259.62 +44.8% since trade filed May 27, 2026 | Planned sale (10b5-1) | 18K | $259.62 | $4.7M | +44.8% | May 27, 2026 |
| May 20, 2026 | Paul Josh D. (Officer) 400 shares $236.95 +58.7% since trade filed May 22, 2026 | Planned sale (10b5-1) | 400 | $236.95 | $95K | +58.7% | May 22, 2026 |
| Apr 8, 2026 | Key John P. (Director) 1,572 shares $173.32 +117.0% since trade filed Apr 10, 2026 | Discretionary sale | 1,572 | $173.32 | $272K | +117.0% | Apr 10, 2026 |
| Apr 1, 2026 | Golechha Dipak (CFO) 200 shares $157.81 +138.3% since trade filed Apr 3, 2026 | Planned sale (10b5-1) | 200 | $157.81 | $32K | +138.3% | Apr 3, 2026 |
| Apr 1, 2026 | Golechha Dipak (CFO) 1,300 shares $160.04 +135.0% since trade filed Apr 3, 2026 | Planned sale (10b5-1) | 1,300 | $160.04 | $208K | +135.0% | Apr 3, 2026 |
| Apr 1, 2026 | Golechha Dipak (CFO) 3,500 shares $160.70 +134.0% since trade filed Apr 3, 2026 | Planned sale (10b5-1) | 3,500 | $160.70 | $562K | +134.0% | Apr 3, 2026 |
| Apr 1, 2026 | Paul Josh D. (Officer) 1,100 shares $161.40 +133.0% since trade filed Apr 3, 2026 | Discretionary sale | 1,100 | $161.40 | $178K | +133.0% | Apr 3, 2026 |
| Mar 27, 2026 | Arora Nikesh (CEO) 100 shares $147.48 +155.0% since trade filed Mar 27, 2026 | Open-market buy | 100 | $147.48 | $15K | +155.0% | Mar 27, 2026 |
| Mar 27, 2026 | Arora Nikesh (CEO) 68K shares $146.87 +156.0% since trade filed Mar 27, 2026 | Open-market buy | 68K | $146.87 | $10.0M | +156.0% | Mar 27, 2026 |
| Mar 6, 2026 | GOETZ JAMES J (Director) 8,500 shares $163.83 +129.5% since trade filed Mar 10, 2026 | Discretionary sale | 8,500 | $163.83 | $1.4M | +129.5% | Mar 10, 2026 |
| Mar 6, 2026 | GOETZ JAMES J (Director) 14K shares $164.76 +128.2% since trade filed Mar 10, 2026 | Discretionary sale | 14K | $164.76 | $2.3M | +128.2% | Mar 10, 2026 |
| Mar 2, 2026 | Paul Josh D. (Officer) 1,700 shares $147.90 +154.3% since trade filed Mar 4, 2026 | Planned sale (10b5-1) | 1,700 | $147.90 | $251K | +154.3% | Mar 4, 2026 |
| Jan 8, 2026 | Klarich Lee (Officer) 367 shares $193.16 +94.7% since trade filed Jan 12, 2026 | Planned sale (10b5-1) | 367 | $193.16 | $71K | +94.7% | Jan 12, 2026 |
| Jan 8, 2026 | Klarich Lee (Officer) 6,707 shares $192.38 +95.5% since trade filed Jan 12, 2026 | Planned sale (10b5-1) | 6,707 | $192.38 | $1.3M | +95.5% | Jan 12, 2026 |
| Jan 8, 2026 | Klarich Lee (Officer) 13K shares $189.60 +98.3% since trade filed Jan 12, 2026 | Planned sale (10b5-1) | 13K | $189.60 | $2.4M | +98.3% | Jan 12, 2026 |
| Jan 8, 2026 | Klarich Lee (Officer) 46K shares $190.69 +97.2% since trade filed Jan 12, 2026 | Planned sale (10b5-1) | 46K | $190.69 | $8.8M | +97.2% | Jan 12, 2026 |
| Jan 8, 2026 | Klarich Lee (Officer) 55K shares $191.47 +96.4% since trade filed Jan 12, 2026 | Planned sale (10b5-1) | 55K | $191.47 | $11M | +96.4% | Jan 12, 2026 |
| Jan 2, 2026 | Jenkins William D Jr (Officer) 904 shares $184.81 +103.5% since trade filed Jan 6, 2026 | Planned sale (10b5-1) | 904 | $184.81 | $167K | +103.5% | Jan 6, 2026 |
| Jan 2, 2026 | Paul Josh D. (Officer) 800 shares $184.81 +103.5% since trade filed Jan 6, 2026 | Planned sale (10b5-1) | 800 | $184.81 | $148K | +103.5% | Jan 6, 2026 |
| Dec 26, 2025 | Jenkins William D Jr (Officer) 1,771 shares $188.45 +99.5% since trade filed Dec 29, 2025 | Planned sale (10b5-1) | 1,771 | $188.45 | $334K | +99.5% | Dec 29, 2025 |
| Dec 26, 2025 | Jenkins William D Jr (Officer) 4,447 shares $187.92 +100.1% since trade filed Dec 29, 2025 | Planned sale (10b5-1) | 4,447 | $187.92 | $836K | +100.1% | Dec 29, 2025 |
| Dec 23, 2025 | Golechha Dipak (CFO) 5,000 shares $188.18 +99.8% since trade filed Dec 29, 2025 late | Planned sale (10b5-1) | 5,000 | $188.18 | $941K | +99.8% | Dec 29, 2025 late |
“Since trade” compares with the latest insider-implied price, not a market quote: these pages are built from filings alone. A role here is the one on that day's Form 4, so somebody promoted since appears under both titles. The share count changed 3-for-1 on Oct 3, 2022 and 2-for-1 on Dec 16, 2024. This table prints prices and share counts as they were filed, on the basis of the day, while the charts above are on today's; “Since trade” puts the filed price on today's basis first, which is why it does not divide into the price beside it.
Filing hygiene
243 Forms 4, 3 years
11 filed late
1 amendments
6.8 avg. days to file
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.