Palo Alto Networks Reports Amendments in Recent 8-K Filing

Palo Alto Networks Inc. recently disclosed significant updates in its Form 8-K filing to the U.S. Securities and Exchange Commission. The filing, dated December 10, 2024, presented various changes and approvals made during the company’s 2024 Annual Meeting of Shareholders.

One notable adjustment involved an amendment to Palo Alto Networks’ 2021 Equity Incentive Plan (the “2021 Plan”). Shareholders approved an increase in the number of shares reserved for issuance under the 2021 Plan by 3,000,000 shares, before considering a subsequent stock split as detailed in another section of the filing.

Further insights from the filing indicated that the company’s Board of Directors had authorized a two-for-one stock split (the “Stock Split”) of its outstanding common stock shares. This action was carried out through an amendment to the company’s Restated Certificate of Incorporation, effectively doubling the number of authorized common stock shares from 1.0 billion to 2.0 billion. The Stock Split became effective on December 12, 2024, with shareholders as of the Record Date (December 12, 2024) set to receive an additional share for each share held.

During the annual meeting, Palo Alto Networks’ shareholders voted on various key proposals. This included the election of Class I directors—Right Honorable Sir John Key, Mary Pat McCarthy, and Nir Zuk, who were elected to serve until the 2027 Annual Meeting. Additionally, the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for the fiscal year ending July 31, 2025, was ratified.

Moreover, shareholders approved the adjustment of future advisory votes on named executive officer compensation to take place annually until the next vote on the frequency of such reviews. In contrast, a shareholder proposal concerning a report on climate risks to retirement plan beneficiaries did not pass.

Finally, the filing included various exhibits, such as the Amendment to the Restated Certificate of Incorporation and the Amended and Restated 2021 Equity Incentive Plan. Palo Alto Networks duly signed the report on December 12, 2024.

These updates signify Palo Alto Networks’ ongoing efforts to enhance shareholder value and governance transparency in its operations and strategic decisions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Palo Alto Networks’s 8K filing here.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.