Material Event (Form 8-K)

Item 8.01. Other Events.

Reference is made to that certain Indenture, dated as of June 10, 2025 (the "Base Indenture"), between CyberArk Software Ltd. (the "CyberArk") and U.S. Bank Trust Company, National Association, as trustee (the "Trustee"), as amended, supplemented or otherwise modified from time, including by that certain First Supplemental Indenture, dated as of February 11, 2026 (the "Supplemental Indenture"), among the Company, the Trustee and Palo Alto Networks, Inc. (the "Indenture"), governing CyberArk's 0.00% Convertible Senior Notes due 2030 (the "Notes"). The Trustee also serves as the paying agent and the conversion agent under the Indenture. Capitalized terms used but not otherwise defined herein have the meanings given to them in the Indenture.

On March 23, 2026, CyberArk notified holders of the Notes, the Trustee and the conversion agent that the Default Settlement Method will be Combination Settlement with a Specified Dollar Amount of $1,000 per $1,000 principal amount of Notes with respect to any conversion of Notes that occurs on or after March 23, 2026. As a result, all conversions of Notes with a Conversion Date on and after March 23, 2026 will be settled by Combination Settlement with a Specified Dollar Amount of $1,000 per $1,000 principal amount of Notes until the Company modifies the Settlement Method in accordance with the Indenture.