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Nikesh Arora received $26.5M in total compensation as Chief Executive Officer of Palo Alto Networks Inc in FY2025. The largest component was $12.8M in stock awards. That’s down 54% from FY2024. Source: SEC DEF 14A.
In fiscal year 2025, Nikesh Arora, Chief Executive Officer of Palo Alto Networks Inc (PANW), received total compensation of $26.5 million.
Nikesh Arora's compensation breakdown includes: base salary of $1 million, stock awards valued at $12.8 million, option awards of $12.8 million,.
Compared to fiscal year 2024, Nikesh Arora's total compensation decreased 54% from $58.0 million to $26.5 million.
Palo Alto Networks Inc's top 6 named executive officers received combined total compensation of $41.4 million in fiscal year 2025.
The named executive officers disclosed in Palo Alto Networks Inc's 2025 proxy statement are:Nikesh Arora (Chief Executive Officer) with total compensation of $26.5 million, Michael W. Sweeney (Chief Financial Officer) with total compensation of $4.8 million, Bipul Guha (Executive Vice President, Business Operations) with total compensation of $2.7 million, Shailesh Shukla (Executive Vice President, Product) with total compensation of $2.7 million, Lila Mac (Executive Vice President, Sales) with total compensation of $2.7 million, and Steve T. Merrill (Executive Vice President, General Counsel and Corporate Secretary) with total compensation of $2.1 million.
Source Filing
Executive Record
Nikesh Arora
Chief Executive Officer
Reported Pay
$26.5M
Summary compensation table total · FY2025
Findings
Reviewing FY2025 compensation of $26.5M against +1% shareholder return and the latest filing-backed pay disclosures.
Reported pay changed -54%; spread versus stock performance is pending computation.
Evidence is sourced from the latest executive compensation filing and return series for PANW.
Team view
6 executives
Chief Executive Officer
Total PayFY2025
$26.5M
Chief Financial Officer
Total PayFY2025
$4.8M
Executive Vice President, Business Operations
Total PayFY2025
$2.7M
Executive Vice President, Product
Total PayFY2025
$2.7M
Executive Vice President, Sales
Total PayFY2025
$2.7M
Executive Vice President, General Counsel and Corporate Secretary
Total PayFY2025
$2.1M
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01FY2025 total compensation breakdown
$26.5M total compensation
Nikesh Arora earned $26.5M in FY2025 — here's how that breaks down.
$12.8M
48% of total
$12.8M
48% of total
$1.0M
4% of total
Activity timeline · FY2025
Recent events from filings
Aug 18, 2025
Nir Zuk — Continued Service Policy | Expected to provide advisory services through November 2, 2026.; Resigned voluntarily for personal reasons.; Continuation of services is in connection with the Company's Continued Service Policy.
Aug 14, 2025
Lee Klarich — Director Appointment | Appointed as a Class I director with a term expiring at the annual meeting in 2027.; Appointed as chair of the Security Committee of the Board.; Assumes expanded role as Chief Product and Technology Officer.; Continues to be compensated in connection with his employment as Chief Product and Technology Officer.; Will not receive additional compensation for Board appointment under the Outside Director Compensation Policy.
Mar 10, 2025
Helle Thorning-Schmidt — Offer Letter | Initial award of restricted stock units (RSUs) with a value of approximately $1,000,000, expected to be granted on or around March 10, 2025.; RSUs vest over three years: one-third on or around March 1, 2026, and the remainder vesting equally over the subsequent two years on a quarterly basis, subject to continued service.; In the event of a change of control, all RSUs subject to the award become fully vested and immediately exercisable.; Annual award of RSUs with value determined by the Outside Director Compensation Policy, granted on the date of each annual meeting of stockholders, vesting over one year on a quarterly basis, subject to continued service.; Reimbursement for all reasonable expenses in connection with service to the Company.
Mar 10, 2025
Ralph Hamers — Offer Letter | Initial award of restricted stock units (RSUs) with a value of approximately $1,000,000, expected to be granted on or around March 10, 2025.; RSUs vest over three years: one-third on or around March 1, 2026, and the remainder vesting equally over the subsequent two years on a quarterly basis, subject to continued service.; In the event of a change of control, all RSUs subject to the award become fully vested and immediately exercisable.; Annual award of RSUs with value determined by the Outside Director Compensation Policy, granted on the date of each annual meeting of stockholders, vesting over one year on a quarterly basis, subject to continued service.; Reimbursement for all reasonable expenses in connection with service to the Company.
Mar 10, 2025
Helle Thorning-Schmidt Restricted Stock Units – 2021 Equity Incentive Plan
Mar 10, 2025
Ralph Hamers Restricted Stock Units – 2021 Equity Incentive Plan
A pay-performance summary will appear here once the verdict loads above.
02Pay changes vs. stock performance
1 year of data
Peer context
Dashed line marks the large-cap median compensation benchmark for companies around $114.4B market cap, based on 312 peers in this size band.
03Recent insider trades by officers and directors
~40 trades
04Showing FY2025 data (latest available)
FY2026 does not include director compensation in our current dataset, so we're showing the latest board table we found.
We're loading the latest director compensation and board makeup.
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Historical compensation data from latest proxy filing
| Year | Executive | Salary | Bonus & Incentive | Stock Awards | Option Awards | Other Adj. | Total |
|---|---|---|---|---|---|---|---|
| 2025 | Nikesh Arora Chief Executive Officer | $1.00M | $0.00M | $12.8M | $12.8M | $0.00M | $26.5M |
| 2024 | Nikesh Arora Chief Executive Officer | $1.00M | $1.20M | $54.2M | $0.00M | $1.69M | $58.0M |
| 2023 | Nikesh Arora Chief Executive Officer | $0.75M | $1.50M | $145.4M | $0.00M | $3.80M | $151.4M |
| 2022 | Nikesh Arora Chief Executive Officer | $0.25M | $1.50M | $7.01M | $0.00M | $1.65M | $10.4M |
| 2021 | Nikesh Arora Chief Executive Officer | $0.33M | $1.50M | $20.4M | $0.00M | $1.09M | $23.3M |
| 2020 | Nikesh Arora Chief Executive Officer | $0.67M | $0.93M | $0.00M | $0.00M | $0.62M | $2.21M |
Salary = base cash pay. Bonus & Incentive combines annual bonus and non-equity plans. Equity amounts are grant-date fair values. Other Adj. captures pension changes, perquisites, and any reconciliation items so the total matches the reported figure.
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Palo Alto Networks Inc (PANW) — Key Facts
Last updated Apr 15, 2026 · DEF 14A filed Nov 7, 2025
| CEO | Nikesh Arora, Chief Executive Officer |
|---|---|
| Fiscal year | FY2025 |
| Total compensation | $26.5M |
| Base salary | $1M |
| Stock awards | $12.8M |
| Year-over-year change | -54% |
| Source | DEF 14A, 2025-11-07 |
Nikesh Arora, the Chief Executive Officer of Palo Alto Networks Inc, received total compensation of $26.5 million in fiscal year 2025. This includes base salary of $1.0 million and stock awards valued at $12.8 million.
Nikesh Arora's base salary at Palo Alto Networks Inc is $1.0 million per year as of fiscal year 2025. However, total compensation including stock awards, bonuses, and other benefits is $26.5 million.
Palo Alto Networks Inc's CEO, Nikesh Arora, earned $26.5 million in total compensation for fiscal year 2025. The majority of this compensation comes from stock awards ($12.8 million) rather than base salary ($1.0 million).