Summary
Palo Alto Networks, Inc. (PANW) has amended its Form 8-K filing to report the appointment of Aparna Bawa to its Board of Directors as a Class III director, with her term expiring at the 2023 annual meeting. Ms. Bawa has also been appointed to the Audit Committee. Her appointment brings extensive experience from leadership roles at prominent technology companies, including her current position as Chief Operating Officer and Interim Chief Legal Officer at Zoom Video Communications, Inc., and prior roles at Magento, Inc., and Nimble Storage, Inc. In connection with her appointment, Ms. Bawa will receive an initial award of restricted stock units valued at approximately $1,000,000, which will vest over three years. She is also expected to receive an annual award of restricted stock units valued at approximately $300,000 beginning in 2022. This strategic addition to the board and compensation package signals confidence in Ms. Bawa's expertise and her expected contributions to the company's governance and strategic direction.
Key Highlights
- 1Appointment of Aparna Bawa to the Board of Directors as a Class III director.
- 2Ms. Bawa has been appointed to the Audit Committee.
- 3Ms. Bawa brings significant experience from her roles at Zoom Video Communications, Magento, and Nimble Storage.
- 4Initial restricted stock unit award of approximately $1,000,000 granted to Ms. Bawa, vesting over three years.
- 5Expected annual restricted stock unit award of approximately $300,000 for committee service and continued directorship.
- 6Director term for Ms. Bawa expires at the 2023 annual meeting.
- 7Ms. Bawa's appointment is based on her extensive experience in technology companies.