X0306 4 2015-12-18 0 0001327567 Palo Alto Networks Inc PANW 0001219231 GOETZ JAMES J C/O SEQUOIA CAPITAL 2800 SAND HILL ROAD, SUITE 101 MENLO PARK CA 94025 1 0 0 0 Common Stock 2015-12-18 5 G 0 E 48240 0.00 D 435988 D Common Stock 2015-12-23 5 G 0 E 110700 0.00 D 325288 D Common Stock 2015-12-23 5 G 0 E 110700 0.00 A 110700 I By Foundation Common Stock 2015-12-28 4 S 0 26602 175.264 D 84098 I By Foundation Common Stock 2015-12-28 4 S 0 64230 176.349 D 19868 I By Foundation Common Stock 2015-12-28 4 S 0 19868 177.154 D 0 I By Foundation Common Stock 14614 I By The Goetz Children's Trust 4/24/1998 Shares held by The Zteog Foundation, for which the Reporting Person serves as President and Chair of the Board. This sale price represents the weighted average sale price of the shares sold ranging from $175.00 to $175.998 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 $176.00 to $176.99 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 $177.00 to $177.66 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. Shares held by The Goetz Children's Trust 4/24/1998. The Reporting Person may be deemed to beneficially own the shares held by The Goetz Children's Trust 4/24/1998. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities on this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the reported securities for purposes of Section 16 or for any other purpose. /s/ Melinda Dunn, by power of attorney for James J. Goetz 2015-12-30