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AI brief of an SEC Form 8-K · Palo Alto Networks (PANW)

Palo Alto Networks: CyberArk notes to settle conversions in cash and stock from March 23

Neutral Impact 2 of 5 financing Written later

Palo Alto Networks disclosed that CyberArk, which it acquired and now operates under a supplemental indenture, has set Combination Settlement as the default method for conversions of its 0.00% Convertible Senior Notes due 2030 occurring on or after March 23, 2026. Under this method, each $1,000 principal amount of Notes will be settled with a Specified Dollar Amount of $1,000 until the company changes the settlement method under the indenture. The filing does not state conversion volumes, share counts, or financial impact.

Key points

  • Default settlement method set to Combination Settlement, effective March 23, 2026
  • Specified Dollar Amount of $1,000 per $1,000 principal amount of Notes for conversions on or after March 23, 2026
  • Notes governed by an indenture dated June 10, 2025, with a First Supplemental Indenture dated February 11, 2026 that includes Palo Alto Networks
  • U.S. Bank Trust Company, National Association serves as trustee, paying agent, and conversion agent

The filing

CompanyPalo Alto Networks (PANW)
Form8-K, current report
Filed with the SECMar 23, 2026, 4:10 PM ET
Accession number0001193125-26-119729

Items reported: 8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 2:16 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 23, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.