X0306 4 2015-09-22 0 0001327567 Palo Alto Networks Inc PANW 0001197637 WARMENHOVEN DANIEL J C/O PALO ALTO NETWORKS INC. 4401 GREAT AMERICA PKWY SANTA CLARA CA 95054 1 0 0 0 Common Stock 2015-09-22 4 M 0 5000 15.50 A 17719 I See footnote Common Stock 2015-09-22 4 S 0 600 178.30 D 17119 I See footnote Common Stock 2015-09-22 4 S 0 1140 179.429 D 15979 I See footnote Common Stock 2015-09-22 4 S 0 600 180.682 D 15379 I See footnote Common Stock 2015-09-22 4 S 0 600 181.80 D 14779 I See footnote Common Stock 2015-09-22 4 S 0 1333 183.098 D 13446 I See footnote Common Stock 2015-09-22 4 S 0 727 183.726 D 12719 I See footnote Common Stock 2015-09-22 4 J 0 640 A 13359 I See footnote Common Stock 4766 D Employee Stock Option (right to buy) 15.50 2015-09-22 4 M 0 5000 0.00 D 2022-03-05 Common Stock 5000 29500 D Exercised shares issued to trust. Shares held directly by The Warmenhoven 1987 Revocable Trust U/T/D 12/16/1987 for which the Reporting Person serves as trustee. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person. This sale price represents the weighted average sale price of the shares sold ranging from $177.90 to $178.72 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $179.19 to $179.89 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $180.40 to $181.06 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $181.45 to $182.36 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $182.55 to $183.532 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $183.55 to $184.23 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. Represents a pro-rata in-kind distribution of Common Stock of the Issuer by Sequoia Technology Partners XI, LP without consideration to its limited partners and general partners. One-fourth (1/4) of the shares subject to the option vested on March 6, 2013 and one forty-eighth (1/48) of the shares vest monthly thereafter /s/ Jeff True, Attorney in-Fact for Daniel J. Warmenhoven 2015-09-24