Summary
Palo Alto Networks, Inc. (PANW) filed an 8-K on November 14, 2022, to provide supplemental information regarding its equity awards and incentive plans, following the recent filing of its proxy statement for the upcoming December 13, 2022 Annual Meeting of Stockholders. The key update concerns the issuance of additional equity awards under the 2021 Equity Incentive Plan. Specifically, on November 10, 2022, the Company granted 3,253,380 additional shares, which impacts the total shares available for future grants.
Key Highlights
- 1Supplemental disclosure provided regarding equity awards and incentive plans.
- 2Additional equity awards totaling 3,253,380 shares were granted on November 10, 2022, under the 2021 Equity Incentive Plan.
- 3Following these grants, 7,598,867 shares remained available for issuance under the 2021 and 2012 Equity Incentive Plans.
- 4Outstanding awards under both the 2012 and 2021 Equity Incentive Plans covered 28,702,448 shares as of November 10, 2022.
- 5As of November 10, 2022, there were 8,017,260 total stock options outstanding with a weighted-average exercise price of $64.59 and a remaining duration of 2.88 years.
- 6As of November 10, 2022, there were 20,685,188 total restricted stock units (including PSUs) outstanding.
- 7Shares available under the 2012 Equity Incentive Plan are limited to performance-based restricted stock units without yet established performance targets.