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Palo Alto Networks Inc 8-K Report, Corporate Update (Mar 23, 2026)

Reports
Other Events
Filing Date
Filed March 23, 2026
Period End
March 23, 2026
Security
PANW
In the record · 2016–202610-K1110-Q328-K110

PANW filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 110 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’20Jun ’20
  2. Leadership change8-K · Dec ’22Dec ’22
  3. Leadership change8-K · Feb ’25Feb ’25

01—Abstract

Summary

Summary of the 8-K filed March 23, 2026. Cited figures are marked; the original filing is the authoritative source.

Palo Alto Networks Inc. (PANW), through its subsidiary CyberArk Software Ltd., has issued a notification regarding the settlement method for its 0.00%a Convertible Senior Notes due 2030.

Effective March 23, 2026, any conversions of these Notes will be settled using a "Combination Settlement" method. This means that instead of receiving only stock or only cash, bondholders will receive a combination of cash and stock for their converted notes. The specified dollar amount for this Combination Settlement is $1,000b per $1,000 principal amount of Notes.

This change impacts all conversions occurring on or after March 23, 2026, and will remain in effect until CyberArk formally modifies the settlement method as permitted by the governing Indenture. Investors holding these convertible notes should be aware of this change as it affects the form and potential value of the settlement they will receive upon conversion.

02—Key points

Key Highlights

  1. CyberArk Software Ltd. (a PANW subsidiary) is changing the settlement method for its 0.00% Convertible Senior Notes due 2030.
  2. The new settlement method, "Combination Settlement," will apply to all conversions on or after March 23, 2026.
  3. Under Combination Settlement, noteholders will receive a mix of cash and stock upon conversion.
  4. The specified dollar amount for settlement is $1,000 in cash for every $1,000 principal amount of Notes converted.
  5. This settlement method will remain in place until CyberArk formally modifies it according to the terms of the Indenture.
  6. The Trustee, U.S. Bank Trust Company, National Association, is involved as the paying and conversion agent.

03—Questions

Frequently Asked Questions

  1. What is the main change being announced by Palo Alto Networks (PANW) regarding its convertible notes?

    Palo Alto Networks, through its subsidiary CyberArk Software Ltd., is changing how its 0.00% Convertible Senior Notes due 2030 are settled when converted. The new method is called "Combination Settlement" and is effective for conversions occurring on or after March 23, 2026.

  2. What does 'Combination Settlement' mean for investors holding these notes?

    Combination Settlement means that when a noteholder converts their notes, they will receive a mix of cash and shares of CyberArk's stock (or potentially PANW stock, depending on the underlying terms not fully detailed here, but typically tied to the issuer's equity value) to satisfy the conversion. This contrasts with settlements that might be entirely in cash or entirely in stock.

  3. What is the specific cash amount associated with this Combination Settlement?

    The specified dollar amount for the Combination Settlement is $1,000 in cash for every $1,000 principal amount of Notes that are converted. The remainder of the conversion value will be settled in equity.

  4. Will this new settlement method apply indefinitely?

    No, this new settlement method will remain in effect until CyberArk formally modifies it in accordance with the terms outlined in the governing Indenture. The company has the ability to change the settlement method again in the future.

04—Continue

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