when did panw stock split

This article answers when did panw stock split, detailing Palo Alto Networks’ 2022 and 2024 forward splits, exact corporate actions, exchange/derivative adjustments, shareholder effects, and source...

2025-11-17 16:00:00

By Meta Cipher

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Palo Alto Networks stock splits (PANW)

when did panw stock split is a common investor question after Palo Alto Networks announced and executed forward stock splits in recent years. This article explains when did panw stock split, lists the split dates and ratios, summarizes the corporate actions and regulatory filings, and describes how exchanges and options markets adjusted. Readers will learn the exact timelines (including record, distribution and first split‑adjusted trading dates), why the company split its shares, and practical effects for holders and derivatives traders.

As of December 13, 2024, per Palo Alto Networks’ SEC Form 8‑K (filed December 12, 2024) and market notices, Palo Alto Networks executed a 2‑for‑1 forward stock split; earlier, a 3‑for‑1 split took effect on September 14, 2022 (sources: Form 8‑K, MIAX memo, exchange notices, market data sites).

Summary of splits

3‑for‑1 split — effective September 14, 2022: shareholders received three shares for each one held prior to the split. This reduced the per‑share trading price proportionally and increased outstanding share count threefold.
2‑for‑1 split — effective mid‑December 2024: the board approved a two‑for‑one forward split in November 2024; record date was December 12, 2024; additional shares were distributed after market close on December 13, 2024; and trading on a split‑adjusted basis began December 16, 2024.

Cumulatively, these forward splits increased the number of shares outstanding by a factor of six (3 × 2 = 6) relative to the pre‑2022 common share base.

Historical timeline

2022 — 3‑for‑1 stock split

Palo Alto Networks announced and implemented a 3‑for‑1 forward split that took effect for trading on September 14, 2022. Under that corporate action, each outstanding share prior to the split was exchanged for three post‑split shares. Trading was adjusted to reflect the new share count and a proportionally reduced per‑share price. The split was intended to increase share accessibility and liquidity for a broader group of investors.

2024 — 2‑for‑1 stock split

The most recent forward split addressed by investors is the two‑for‑one split implemented in December 2024. For readers asking when did panw stock split in 2024, here is the sequence documented in the company filing and market notices:

November 20, 2024: Palo Alto Networks’ board of directors approved the 2‑for‑1 forward stock split and the related amendment to the Restated Certificate of Incorporation under Delaware law. The company announced the action to investors and released guidance on timing and mechanics.
November 26, 2024: Options exchanges published adjustment memos (for example, MIAX issued an information memo) describing the ex‑date and contract adjustments that would follow the split.
December 12, 2024: This was set as the record date for determining shareholders entitled to receive the additional shares under the split.
After market close on December 13, 2024: The company scheduled the distribution of additional shares to holders of record. The distribution processing occurred after the market close.
December 16, 2024: Trading began on a split‑adjusted basis (i.e., the NASDAQ ticker reflected the new share count and adjusted per‑share prices).

This timeline is consistent with Palo Alto Networks’ Form 8‑K filed with the SEC on December 12, 2024, exchange memos, and market press coverage in late November and December 2024.

2024 split — corporate actions and key dates

When did panw stock split in 2024, and what corporate steps accompanied it? Key corporate actions recorded in the public filing and investor materials include:

Board approval/announcement (Nov 20, 2024): The board authorized a stock split and an amendment to the company’s charter to increase the authorized number of shares to permit the split and future equity needs.
Delaware corporate amendment: The Restated Certificate of Incorporation was amended to increase the authorized number of shares of common stock (the Form 8‑K states the authorized shares were increased from 1.0 billion to 2.0 billion common shares to accommodate the split and equity plan flexibility).
Record date (Dec 12, 2024): Shareholders of record on this date were entitled to receive the additional shares from the split.
Distribution processing (after close Dec 13, 2024): The company distributed the additional shares to holders of record. The timing of the processing meant that U.S. markets saw the adjustment reflected in positions the following trading day.
First split‑adjusted trading day (Dec 16, 2024): Exchanges and broker systems opened with PANW quoted on a post‑split basis.

These specific dates and mechanics are documented in the company’s Form 8‑K (filed Dec 12, 2024) and corroborated by exchange and options‑market notices published in late November and December 2024.

Exchange and derivatives adjustments

Options and contract adjustments

Options and other derivatives require standardized contract adjustments when an underlying equity undergoes a forward split. For investors asking when did panw stock split and how options would change, here are the practical mechanics:

Contract multiplier and strike price adjustments: For a 2‑for‑1 forward split, options contracts' multipliers and/or the number of contracts can be adjusted so that the aggregate economic exposure remains unchanged. Exchanges typically adjust the number of underlying shares per contract or modify the strike price to preserve position value.
MIAX information memo (Nov 26, 2024): The MIAX memo outlined the ex‑date for options adjustments and described that strikes would be adjusted to reflect the 2‑for‑1 split effective on the ex‑date. Options holders should have seen corresponding changes to strike prices or contract multipliers once the split was effective.
Timing: Option exchanges publish memos before the effective ex‑date. Adjustments are effective at the open of trading on the post‑split trading day so that option prices reflect the new share count.

Options holders should consult their broker’s options position statements after the ex‑date to confirm the precise contract adjustments; exchanges such as MIAX provide the standardized rules and conversion factors used.

Exchange trading mechanics

Brokerage and exchange systems must handle order routing, open orders, and recordkeeping around the time of a split. Practical points observed from exchange and broker notices (examples published by brokers and some European exchanges in late 2024) include:

Order cancellations and adjustments: Some pending limit or market orders can be canceled or adjusted by brokers depending on order type and timing. Brokers usually provide guidance ahead of the ex‑date.
Position reporting: Retail and institutional account statements reflect adjusted share counts after the distribution posts to accounts. Some brokers display the new share totals on the next business day once post‑trade processing completes.
Quote displays: Exchanges and market data feeds begin quoting the split‑adjusted price and share data on the first trading day after the distribution posts. For the Dec 2024 PANW split, trading on a split‑adjusted basis commenced on December 16, 2024.

Brokers and exchanges published notices advising customers of these mechanics so that holdings, open orders, and option positions were properly handled during the transition.

Rationale and corporate context

Why do companies split shares? Palo Alto Networks cited common rationales when announcing its 2022 and 2024 forward splits. Typical stated reasons include:

Improving liquidity: By lowering the per‑share price through a forward split, more investors (particularly retail investors) may find the stock more accessible, which can increase trading turnover.
Broadening investor access: More tradable shares at lower per‑share prices can make the stock easier to purchase in round lots for small investors.
Aligning share counts with equity compensation: Increased authorized shares and forward splits can simplify equity award practices for employees and support equity incentive plans.

In the 2024 filing and announcement, the company linked the charter amendment and split to ensuring adequate authorized shares for business needs, including equity compensation plans that had been approved at the 2024 annual meeting. The split itself does not change company fundamentals—total market capitalization remains the same immediately after a proper forward split—but it does change per‑share metrics and the number of outstanding shares.

Market impact and investor considerations

Investors asking when did panw stock split often want to know about market effects. The following points summarize common, evidence‑based observations and practical considerations. These are general, factual notes and are not investment advice.

Price and market capitalization: A forward split is a pro‑rata issuance of shares and should not change the company’s total market capitalization immediately. After a 2‑for‑1 split, the per‑share price is typically roughly halved, all else equal, because there are twice as many shares outstanding.
Short‑term market reaction: Historically, stock splits can be accompanied by increased retail attention and sometimes short‑term price moves. However, splits do not change company fundamentals. Market response varies by company, sector, and macro context.
Liquidity: A split often increases the number of tradable shares at lower per‑share prices, which can improve liquidity and narrower bid‑ask spreads in some cases. The actual liquidity effect depends on investor demand and market maker behavior.
Practical considerations for shareholders: Shareholders did not need to remit funds to receive additional shares; entitled holders as of the record date were allocated additional shares automatically. Fractional shares are typically handled per broker policy (cash‑in‑lieu or rounding rules) and can vary by broker.

For the 2024 PANW split specifically, shareholders of record on December 12, 2024 received additional shares distributed after close on December 13, 2024, and the listing reflected the split starting December 16, 2024.

Effect on shares outstanding and equity plans

The Delaware amendment accompanying the 2024 split increased the company’s authorized common shares, as recorded in the Form 8‑K. The Form 8‑K stated that the authorized number of common shares was increased to 2.0 billion from 1.0 billion to accommodate the split and provide flexibility for equity awards and capital needs.

Key shareholder and equity plan effects:

Issued and outstanding shares: Following the 3‑for‑1 split (2022) and the 2‑for‑1 split (2024), issued and outstanding share totals increased proportionally. Relative ownership percentages for shareholders remained unchanged absent transfers.
Equity compensation plans: Award sizes and the number of shares available under equity plans were adjusted proportionally, maintaining consistent economic value for granted awards while increasing the nominal number of shares available for future grants.
Authorized shares: Increasing authorized shares via a charter amendment is a common corporate action to ensure there are sufficient shares for splits and equity programs. The 2024 amendment increased authorized common shares from 1.0 billion to 2.0 billion per the company’s SEC filing.

Practical timeline recap: when did panw stock split?

2022: 3‑for‑1 split effective for trading on September 14, 2022.
2024: 2‑for‑1 split — board approval Nov 20, 2024; MIAX/options memos Nov 26, 2024; record date Dec 12, 2024; distribution processed after close Dec 13, 2024; first split‑adjusted trading day Dec 16, 2024.

If you are searching for when did panw stock split, these are the exact effective dates and corporate mechanics that were publicly disclosed.

Sources and primary documents

Primary documents and market notices to consult for verification:

Palo Alto Networks SEC filings: Form 8‑K (filed Dec 12, 2024) — documents board approval, charter amendment details, record date and distribution mechanics (source: company SEC filing).
MIAX options exchange information memo (Nov 26, 2024) — describes ex‑date and options contract adjustments for the 2‑for‑1 split.
Nasdaq and market press coverage (Nov–Dec 2024) — investor guidance and reporting on the split timing and trading schedule.
Historical split records on financial data services: SplitHistory, Macrotrends, Investing.com — consolidated lists showing the 3‑for‑1 (Sept 14, 2022) and 2‑for‑1 (Dec 2024) splits.
Broker/exchange notices (examples published in late 2024) — operational guidance on order handling, reporting, and when adjusted positions would be visible to investors (brokers and some exchanges published client notices describing processing timelines).

As of December 13, 2024, the SEC Form 8‑K and exchange memos provide the authoritative timeline for the 2024 split. For options contract specifics, consult the options exchange memos published around November 26–December 16, 2024.

Notes for the reader

Specific dates: PANW completed a 3‑for‑1 split that took effect on September 14, 2022, and a 2‑for‑1 split with record date December 12, 2024; distribution was processed after the close on December 13, 2024; trading on a split‑adjusted basis began December 16, 2024. These dates are documented in Palo Alto Networks’ Form 8‑K (filed Dec 12, 2024), options‑exchange memos, and exchange/broker notices.
Data and verification: For precise position statements, options contract information, or broker‑specific handling of fractional shares or open orders, consult your brokerage statements or the exchange memos referenced above. Primary sources include the SEC Form 8‑K (Dec 12, 2024) and MIAX (Nov 26, 2024) information releases.
No investment advice: This article is factual and explanatory only. It does not constitute investment advice, tax guidance, or a recommendation to buy or sell securities.