X0306 4 2015-09-08 0 0001327567 Palo Alto Networks Inc PANW 0001393402 Tomlinson Steffan C/O PALO ALTO NETWORKS INC. 4401 GREAT AMERICA PKWY SANTA CLARA CA 95054 0 1 0 0 Chief Financial Officer Common Stock 2015-09-08 4 M 0 50000 15.50 A 147039 D Common Stock 2015-09-08 4 S 0 6200 162.834 D 140839 D Common Stock 2015-09-08 4 S 0 14896 163.794 D 125943 D Common Stock 2015-09-08 4 S 0 17404 164.629 D 108539 D Common Stock 2015-09-08 4 S 0 9100 165.848 D 99439 D Common Stock 2015-09-08 4 S 0 2400 166.409 D 97039 D Common Stock 2015-09-09 4 M 0 10000 15.50 A 107039 D Common Stock 2015-09-09 4 S 0 1700 165.60 D 105339 D Common Stock 2015-09-09 4 S 0 4199 166.65 D 101140 D Common Stock 2015-09-09 4 S 0 2801 167.463 D 98339 D Common Stock 2015-09-09 4 S 0 1000 168.46 D 97339 D Common Stock 2015-09-09 4 S 0 300 169.18 D 97039 D Employee Stock Option (right to buy) 15.50 2015-09-08 4 M 0 50000 0.00 D 2022-03-05 Common Stock 50000 67000 D Employee Stock Option (right to buy) 15.50 2015-09-09 4 M 0 10000 0.00 D 2022-03-05 Common Stock 10000 57000 D 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 $162.23 to $163.22 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 $163.23 to $164.225 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 $164.23 to $165.17 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 $165.28 to $166.27 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 $166.29 to $166.57 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 $165.05 to $165.95 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 $166.05 to $167.04 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 $167.05 to $168.04 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 $168.10 to $168.94 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 $169.11 to $169.23 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. One-fourth (1/4) of the shares subject to the option vested on February 2, 2013, and one forty-eighth (1/48) of the shares vest monthly thereafter, provided that the Reporting Person continues to serve through each vesting date. /s/ Jeff True, Attorney-in-Fact for Steffan Tomlinson 2015-09-10