Summary
Palo Alto Networks, Inc. (PANW) filed an 8-K on November 24, 2013, reporting on its fiscal first quarter ended October 31, 2013. The company issued a press release on November 25, 2013, to announce its financial results for this period. Investors should refer to the furnished press release (Exhibit 99.1) for detailed financial performance. Additionally, the filing discloses an update to the executive compensation structure. Effective November 1, 2013, the annual base salary for Mark D. McLaughlin, Chairman, President, and CEO, was increased from $330,000 to $450,000. Mr. McLaughlin is also eligible for a target incentive compensation plan bonus of $450,000 for fiscal year 2014.
Key Highlights
- 1Company announced fiscal first quarter 2014 financial results on November 25, 2013, via press release.
- 2Detailed financial performance for the quarter ended October 31, 2013, is available in the furnished press release (Exhibit 99.1).
- 3CEO Mark D. McLaughlin's annual base salary increased to $450,000, effective November 1, 2013.
- 4CEO is eligible for a target incentive bonus of $450,000 for fiscal year 2014.
- 5The information in Item 2.02 is furnished and not deemed 'filed' for Section 18 purposes.