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sellWeak cluster of 210b5-1 plan

Lee Klarich sold $23M of PANW

EVP Chief Product & Tech Ofcr at Palo Alto Networks Inc. 120,774 shares at an average of $191.11, traded Sep 3, 2025, filed Sep 5, 2025.

Warning score
23
Value
$23M
120,774 shares
Holdings after
177,954
-40% from before
From 52-week low
+26%
low $152.44, close $191.53
From 52-week high
-8%
high $208.28, as of Sep 3, 2025

Score components

  • Role
    Officer
    +15
  • Trade size
    $23.1M at market
    +25
  • Share of holdings sold
    Sold 40% of holdings
    +10
  • Cluster
    2 insiders selling within 14 days
    +8
  • Exercise and sell
    Shares came from an option exercise in the same filing
    -15
  • 10b5-1 plan
    Pre-scheduled under a 10b5-1 plan
    -20

What happened after comparable sells

Same side and tier, against the S&P 500, at 1, 3 and 6 months. Shown to Pro users; the whole table is on the backtest page.

Price around the trade, and since

From a quarter before the trade to today. The arrow is the trade, the circle the day the filing reached EDGAR, which is the first day anyone outside could act; the dotted line is the S&P 500 rebased to that day's close.

PANWOct 9, 2026 · close 418.78
Since filing Sep 5, 2025: +115.4%SPY +21.9% · excess +93.4%

Daily candles, adjusted for splits and dividends. Green arrows are insider buys, red are sells, sized by value; the dashed line is the close on the filing day, the dotted line SPY rebased to it.Charts by TradingView Lightweight Charts™

Rows in this filing

Every transaction in Form 4 0000950170-25-113260, as filed. Open on EDGAR

DateTransactionSharesPriceValueHoldings afterFiled
Sep 3, 2025MOption exercise
Common Stock10b5-1
+92,010$32.25$3.0M298,728Sep 5, 2025
Sep 3, 2025SOpen-market sale
Common Stock10b5-1
-2,282$188.60$430k296,446Sep 5, 2025
Sep 3, 2025SOpen-market sale
Common Stock10b5-1
-5,544$189.76$1.1M290,902Sep 5, 2025
Sep 3, 2025SOpen-market sale
Common Stock10b5-1
-50,699$190.80$9.7M240,203Sep 5, 2025
Sep 3, 2025SOpen-market sale
Common Stock10b5-1
-61,600$191.57$12M178,603Sep 5, 2025
Sep 3, 2025SOpen-market sale
Common Stock10b5-1
-649$192.22$125k177,954Sep 5, 2025
Sep 3, 2025MOption exercise
Stock Option (right to buy)derivative10b5-1
-92,010$0.00$0368,040Sep 5, 2025

Related signals

Other insiders at Palo Alto Networks Inc and this insider’s other filings.

ScoreCompanyInsiderValueHoldingsFiled
33Weak
PANWsell 2
Palo Alto Networks Inc
Aparna Bawa
director
$103k
250 shares
-5%
21Weak
PANWsell 410b5-1
Palo Alto Networks Inc
Josh D. Paul
Chief Accounting Officer
$158k
400 shares
-1%
40Moderate
PANWsell 5
Palo Alto Networks Inc
Aparna Bawa
director
$102k
260 shares
-5%
47Moderate
PANWsell 510b5-1
Palo Alto Networks Inc
Dipak Golechha
EVP, Chief Financial Officer
$11M
27,500 shares
-19%
75Notable
PANWsell 5
Palo Alto Networks Inc
James J Goetz
director
$7.5M
20,000 shares
-100%
54Moderate
PANWsell 5
Palo Alto Networks Inc
Aparna Bawa
director
$562k
1,500 shares
-23%
59Moderate
PANWsell 5
Palo Alto Networks Inc
John P. Key
director
$940k
2,500 shares
-20%
25Weak
PANWsell 310b5-1
Palo Alto Networks Inc
Josh D. Paul
Chief Accounting Officer
$336k
900 shares
-1%
74Notable
PANWbuy
Palo Alto Networks Inc
Nikesh Arora
Chief Executive Officer
$10.0M
68,085 shares
+25%
58Moderate
PANWsell 2
Palo Alto Networks Inc
James J Goetz
director
$3.7M
22,684 shares
-30%

Not investment advice. Scores and forward returns are decision support built from public SEC filings and past prices; they describe what happened after comparable filings, not what will happen after this one. Do your own research and size your risk.

Lee Klarich sold $23M of PANW | InsiderTell