The sale is de minimis in size and by a director, not a C-suite insider. The filing signals intent to sell, but the amount is trivial relative to the company's $81.8 billion market cap. No immediate read-through for PANW stock. Monitor for any subsequent Form 4 filings to confirm execution.
Price Chart
Executive Summary
Aparna Bawa, a director of Palo Alto Networks and Zoom Video Communications executive, filed a Form 144 on October 9, 2026, indicating intent to sell 250 shares of PANW common stock through J.P. Morgan Securities. The shares were acquired via an RSU award on March 1, 2024, and vested on March 1, 2025. The proposed sale value is approximately $99,625 based on the filing's estimated price of $396.50 per share, representing a de minimis portion of the company's $81.8 billion market cap.
Key Facts
- Insider: Aparna Bawa, a director of Palo Alto Networks, filed Form 144 to sell 250 shares of PANW common stock.
- Estimated sale value: ~$99,625 based on 250 shares × $396.50/share (filing's estimated market price: $99,625 for 250 shares).
- Shares acquired via RSU award from issuer on 03/01/2024, vested 03/01/2025.
- Broker: J.P. Morgan Securities LLC, 270 Park Avenue, 10th Floor, New York, NY 10017.
- Filing date: 10/09/2026; estimated market cap of issuer: $81.8 billion.
- Prior sales by Bawa Family Trust in September 2026: 260 shares on 09/24/2026 ($102,080.39), 500 on 09/15/2026 ($188,556.11), 1000 on 09/14/2026 ($373,567.30).
Financial Impact
~$99,625 — 250 shares at ~$396.50/share, representing ~0.00012% of market cap
Risk Factors
- No material risk from this filing; risk of insider selling ahead of earnings or lock-up expiration
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001968582-26-001051 |
| Document: 0001968582-26-001051-index.html | 0001968582-26-001051 |
| Document: 0001968582-26-001051.txt | 0001968582-26-001051 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | DEFA14A | $402.00 | awaiting T+60 | — | $401.70 (−0.07%) |
Oct 27, 2026 today | DEF 14A | $401.70 | awaiting T+60 | — | $401.70 (+0.00%) |
Oct 20, 2026 7d ago | Institutional Cluster | $347.25 | awaiting T+60 | — | $401.70 (−15.68%) |
Oct 9, 2026 18d ago | 144 | $403.83 | awaiting T+60 | — | $401.70 (−0.53%) |
Oct 8, 2026 19d ago | 144 | $418.78 | awaiting T+60 | — | $401.70 (−4.08%) |
Oct 5, 2026 22d ago | Insider Cluster | $419.91 | awaiting T+60 | — | $401.70 (+4.34%) |
Sep 28, 2026 29d ago | Insider Cluster | $388.41 | awaiting T+60 | — | $401.70 (−3.42%) |
Sep 28, 2026 29d ago | Insider Cluster | $388.41 | awaiting T+60 | — | $401.70 (+3.42%) |
Sep 21, 2026 5w ago | Insider Cluster | $374.57 | awaiting T+60 | — | $401.70 (+7.24%) |
Sep 21, 2026 5w ago | Insider Cluster | $374.57 | awaiting T+60 | — | $401.70 (+7.24%) |
US Market Status
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