UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On November 3, 2022, Palo Alto Networks, Inc. (the “Company”) filed its definitive proxy statement for the Company’s 2022 Annual Meeting of Stockholders to be held on December 13, 2022 (the "Proxy Statement"). The following information supplements the disclosures set forth in the Proxy Statement.
On November 10, 2022, the Company granted additional equity awards totaling 3,253,380 shares under the Company’s 2021 Equity Incentive Plan (the “2021 Plan”). Immediately following these grants, 7,598,867 shares remained available for issuance under the 2021 Plan and the 2012 Equity Incentive Plan. Additionally, outstanding awards under the Company’s 2012 Equity Incentive Plan and the 2021 Plan covered 28,702,448 shares.
Additional Equity Plan Information
The following table provides certain additional information regarding the Company’s equity compensation plans, excluding the Employee Stock Purchase Plan:
| As of 11/10/2022 | ||||
| Total Stock Options (including PSOs) Outstanding |
8,017,260 | |||
| Weighted-Average Exercise Price of Stock Options Outstanding |
$ | 64.59 per share | ||
| Weighted-Average Remaining Duration of Stock Options Outstanding |
2.88 years | |||
| Total Restricted Stock Units (including PSUs) Outstanding |
20,685,188 | |||
| Total Shares Available for Grant under the 2021 Equity Incentive Plan and the 2012 Equity Incentive Plan(1) |
7,598,867 | |||
| (1) | Shares available for grant under the 2012 Equity Incentive Plan are limited to performance-based restricted stock units which do not yet have approved performance targets established. These performance-based restricted stock units do not yet have a reportable grant date fair value under ASC Topic 718. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PALO ALTO NETWORKS, INC. | ||
| By: | /s/ Dipak Golechha | |
| Dipak Golechha | ||
| Chief Financial Officer | ||
Date: November 14, 2022