Summary by Futu AI
Palo Alto Networks, Inc. officer Lee Klarich is set to sell 60,000 shares of Class A Common stock on 06/04/2024, as announced by the company. The shares, valued at an aggregate market value of $17,405,400, were originally acquired as compensation through stock options on 10/20/2018. The transaction is part of a cashless exercise/same-day sale arrangement. This planned sale follows a series of transactions over the past three months, where a total of 246,667 shares were sold by company insiders, generating gross proceeds of $71,111,488.54. The notice of the upcoming sale was filed on the same day as the planned sale, with the instruction for this transaction having been adopted on 11/22/2023.