X0306 4 2018-11-02 0 0001327567 Palo Alto Networks Inc PANW 0001756093 Singh Amit K. C/O PALO ALTO NETWORKS, INC. 3000 TANNERY WAY SANTA CLARA CA 95054 0 1 0 0 President Common Stock 2018-11-02 4 A 0 47981 0.00 A 47981 D Performance Stock Option (right to buy) 184.24 2018-11-02 4 A 0 434145 0.00 A 2028-11-02 Common Stock 434145 434145 D Each share is represented by a Restricted Stock Unit ("RSU") and a contingent right to receive one share of PANW common stock for each RSU. The RSUs will vest over a four-year period with 40% vesting on November 2, 2019; 30% vesting during the second year in four equal quarterly increments; 20% vesting during the third year in four equal quarterly increments and 10% vesting during the fourth year in four equal quarterly increments, subject to the Reporting Person continuing to be a Service Provider through each vesting date. The shares subject to the Performance Stock Option become eligible to vest ("Eligible Option Shares") upon achievement of certain stock price targets (the "Stock Price Achievements") during applicable performance windows. To the extent that Stock Price Achievements have been met, Eligible Option Shares will vest as to 1/4 of such shares on each annual anniversary of November 2, subject to the Reporting Person continuing to be a Service Provider through each vesting date. /s/ Jeff True, Attorney-in-Fact for Amit K. Singh 2018-11-05