Palo Alto Networks Chief Product Officer Lee Klarich's 2019 pay jumps 453% to $51M
Palo Alto Networks reports 2019 executive compensation
By ExecPay News
Published: October 22, 2019
Palo Alto Networks reported fiscal year 2019 executive compensation information on October 22, 2019.
In 2019, five executives at Palo Alto Networks received on average a compensation package of $34M, a 57% increase compared to previous year.
Average pay of disclosed executives at Palo Alto Networks
Lee Klarich, Chief Product Officer, received $51M in total, which increased by 453% compared to 2018. 78% of Klarich's compensation, or $40M, was in option awards. Klarich also received $220K in non-equity incentive plan, $550K in salary, $10M in stock awards, as well as $2K in other compensation.
For fiscal year 2019, the median employee pay was $219,722 at Palo Alto Networks. Therefore, the ratio of Lee Klarich's pay to the median employee pay was 232 to one.
Amit Singh, President, received a compensation package of $47M. 52% of the compensation package, or $25M, was in option awards.
Nir Zuk, Chief Technology Officer, earned $36M in 2019, a 649% increase compared to previous year.
Nikesh Arora, Chief Executive Officer, received $24M in 2019, which decreases by 81% compared to 2018.
Kathleen Bonanno, Chief Financial Officer, earned $13M in 2019, a 194% increase compared to previous year.
Palo Alto Networks' fiscal year ends on July 31.
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Source: SEC filing on October 22, 2019.