On December 1, 2025, Palo Alto Networks, Inc announced that it has issued a presentation with shareholders stating that it supports a classified Board structure as it aligns with shareholder interests and promotes strong corporate governance, ensures continuity, stability, and institutional knowledge, which is essential for executing current strategic priorities, including major acquisitions and adapting to rapid technological changes like generative AI. In addition, the Company stated that a classified Board helps maintain long-term focus, prevents short-term pressures, and safeguards shareholder value by reducing vulnerability to hostile takeovers, and despite staggered terms, all directors remain accountable to shareholders under fiduciary duties mandated by Delaware law. Further, the Company recommended the shareholders to vote against the shareholder proposal at the annual meeting of shareholders.