Palo Alto Networks CEO Nikesh Arora’s Reported Compensation Fell 19.5% in Fiscal 2026

Palo Alto Networks Chairman and CEO Nikesh Arora’s reported compensation fell 19.5% to $80,270,519 in fiscal 2026, while his salary remained $1 million for a second consecutive year.

The fiscal 2026 total was $19,465,817 lower than the $99,736,336 reported for fiscal 2025. Stock awards made up the largest listed portion of Arora’s compensation, valued at $75,937,806 for fiscal 2026 compared with $94,857,838 a year earlier. Non-equity incentive compensation was $1 million, down from $1.2 million.

The stock-award figures are grant-date fair values calculated at target performance. They do not show how much Arora ultimately realized from the awards; the figures reflect their valuation when granted, rather than their eventual value to him.

In response to shareholder feedback, the company capped fiscal 2027 performance-share unit payouts at three times target, down from four times. The new ceiling is a 25% reduction from the prior maximum and allows a payout of up to three times the target amount. It is half the 600% maximum used in fiscal 2024.

At the Dec. 9, 2025, annual meeting, the advisory resolution on named executive officer compensation received 253,792,757 votes against and 221,211,579 in favor. Another 4,432,315 votes were abstentions. Votes against exceeded votes in favor by 32,581,178.

Lead Independent Director John M. Donovan wrote, “We believe that you will conclude that we have taken meaningful action in response to your feedback.”

Palo Alto Networks’ next annual meeting is scheduled for Dec. 8, 2026. Shareholders are set to consider an advisory vote on named executive officer compensation at 2 p.m. ET (19:00 UTC).