Palo Alto Networks (PANW) executive compensation, 2025 proxy

Nikesh Arora, Chief Executive Officer, was paid $99.7M in fiscal 2025, up 72% from $58M the year before. The CEO-to-median-employee pay ratio was 442:1, on median employee pay of $225,828.

Filed
November 7, 2025
Annual meeting
November 7, 2025
Pay year
fiscal 2025
Named executives
5
CEO total pay
$99.7M+72% vs prior year
CEO to median employee
442:1median $225,828
CEO pay in equity
95%$94.9M in awards
Total Revenue
$9.22B15% increase year over year
NGS ARR
$5.58B32% increase year over year
Remaining Performance Obligations
$15.8B24% increase year over year
Non-GAAP Diluted EPS
$3.3418% increase year over year

How Arora was paid

$99.7M in total for fiscal 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary1%Stock awards95%Non-equity incentive1%All other compensation3%

Named executive officers

ExecutiveTotal
Nikesh AroraChief Executive Officer$99,736,336
Dipak GolechhaChief Financial Officer$25,527,681
William “BJ” JenkinsPresident$26,959,402
Lee KlarichChief Product and Technology Officer$25,971,237
Nir ZukFounder Emeritus and Former Chief Technology Officer$15,707,598

What changed and why

  • $9.22BTotal revenue reached $9.22 billion, representing a 15% increase compared to the previous year.
  • $99.7MCEO total compensation increased to $99,736,336 for fiscal 2025 from $58,036,875 in fiscal 2024.
  • $5.58BNext-Generation Security Annual Recurring Revenue grew to $5.58 billion, a 32% year-over-year increase.
  • 18%Non-GAAP net income per diluted share increased to $3.34, representing an 18% increase year over year.
  • 100%All equity awards granted to NEOs in fiscal 2025 were 100% performance-based and at-risk.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.