X0306 4 2017-09-11 0 0001327567 Palo Alto Networks Inc PANW 0001250333 ZUK NIR C/O PALO ALTO NETWORKS INC. 3000 TANNERY WAY SANTA CLARA CA 95054 1 1 0 0 CTO Common Stock 2017-09-11 4 S 0 1450 144.811 D 1662250 D Common Stock 2017-09-11 4 S 0 550 145.526 D 1661700 D Common Stock 44976 I See footnote Common Stock 250000 I See footnote 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 $144.31 to $145.13 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. Reflects annuity payments from the Zuk 2015 GRAT dated June 17, 2015 to the Reporting Person. Reflects the Reporting Person's contribution of shares to the Zuk 2017 GRAT dated March 29, 2017. This sale price represents the weighted average sale price of the shares sold ranging from $145.315 to $145.655 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 are held by the Zuk 2015 GRAT dated June 17, 2015, for which the Reporting Person serves as a trustee. Shares are held by the Zuk 2017 GRAT dated March 29, 2017, for which the Reporting Person serves as a trustee. /s/ Jeff True, Attorney-in-Fact for Nir Zuk 2017-09-13