Palo Alto Networks Chief Product Officer Lee Klarich's 2019 pay jumps 453% to $51.0M
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 $34.1M, a 57% increase compared to previous year.
Lee Klarich, Chief Product Officer, received $51M in total, which increased by 453% compared to 2018. 78.47% of Klarich's compensation, or $40M, was in option awards. Klarich also received $220K in non-equity incentive plan, $550K in salary, $10.2M 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 $47.2M. 51.94% of the compensation package, or $24.5M, was in option awards.
Nir Zuk, Chief Technology Officer, earned $35.7M in 2019, a 649% increase compared to previous year.
Nikesh Arora, Chief Executive Officer, received $23.9M in 2019, which decreases by 81% compared to 2018.
Kathleen Bonanno, Chief Financial Officer, earned $12.5M in 2019, a 194% increase compared to previous year.
Palo Alto Networks' fiscal year ends on July 31.