Matthew Prince - Apr 8, 2025 Form 4 Insider Report for Cloudflare, Inc. (NET)

Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
Apr 8, 2025
Transactions value $
-$16,022,375
Form type
4
Date filed
4/10/2025, 08:27 PM
Previous filing
Mar 19, 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NET Class A Common Stock Conversion of derivative security +52.4K 52.4K Apr 8, 2025 See footnote F1, F2
transaction NET Class A Common Stock Sale -$623K -6.46K -12.33% $96.42 45.9K Apr 8, 2025 See footnote F2, F3, F4
transaction NET Class A Common Stock Sale -$590K -6.07K -13.22% $97.29 39.9K Apr 8, 2025 See footnote F2, F3, F5
transaction NET Class A Common Stock Sale -$270K -2.73K -6.86% $98.74 37.1K Apr 8, 2025 See footnote F2, F3, F6
transaction NET Class A Common Stock Sale -$685K -6.87K -18.52% $99.65 30.2K Apr 8, 2025 See footnote F2, F3, F7
transaction NET Class A Common Stock Sale -$442K -4.4K -14.54% $100.49 25.9K Apr 8, 2025 See footnote F2, F3, F8
transaction NET Class A Common Stock Sale -$143K -1.4K -5.41% $101.97 24.5K Apr 8, 2025 See footnote F2, F3, F9
transaction NET Class A Common Stock Sale -$1.36M -13.2K -53.84% $103.04 11.3K Apr 8, 2025 See footnote F2, F3, F10
transaction NET Class A Common Stock Sale -$799K -7.69K -68.16% $103.85 3.59K Apr 8, 2025 See footnote F2, F3, F11
transaction NET Class A Common Stock Sale -$377K -3.59K -100% $104.77 0 Apr 8, 2025 See footnote F2, F3, F12
transaction NET Class A Common Stock Conversion of derivative security +52.4K 52.4K Apr 9, 2025 See footnote F1, F2
transaction NET Class A Common Stock Sale -$624K -6.43K -12.27% $97.19 46K Apr 9, 2025 See footnote F2, F3, F13
transaction NET Class A Common Stock Sale -$1.63M -16.6K -36.22% $98.19 29.3K Apr 9, 2025 See footnote F2, F3, F14
transaction NET Class A Common Stock Sale -$709K -7.16K -24.42% $99.04 22.2K Apr 9, 2025 See footnote F2, F3, F15
transaction NET Class A Common Stock Sale -$70.4K -703 -3.17% $100.13 21.5K Apr 9, 2025 See footnote F2, F3, F16
transaction NET Class A Common Stock Sale -$34.4K -333 -1.55% $103.44 21.1K Apr 9, 2025 See footnote F2, F3
transaction NET Class A Common Stock Sale -$78.3K -736 -3.49% $106.33 20.4K Apr 9, 2025 See footnote F2, F3, F17
transaction NET Class A Common Stock Sale -$39.3K -367 -1.8% $107.09 20K Apr 9, 2025 See footnote F2, F3
transaction NET Class A Common Stock Sale -$120K -1.11K -5.54% $108.61 18.9K Apr 9, 2025 See footnote F2, F3, F18
transaction NET Class A Common Stock Sale -$41.2K -376 -1.99% $109.65 18.5K Apr 9, 2025 See footnote F2, F3, F19
transaction NET Class A Common Stock Sale -$260K -2.33K -12.59% $111.59 16.2K Apr 9, 2025 See footnote F2, F3, F20
transaction NET Class A Common Stock Sale -$712K -6.31K -38.98% $112.71 9.88K Apr 9, 2025 See footnote F2, F3, F21
transaction NET Class A Common Stock Sale -$802K -7.05K -71.36% $113.78 2.83K Apr 9, 2025 See footnote F2, F3, F22
transaction NET Class A Common Stock Sale -$324K -2.83K -100% $114.49 0 Apr 9, 2025 See footnote F2, F3, F23
transaction NET Class A Common Stock Conversion of derivative security +52.4K 52.4K Apr 10, 2025 See footnote F1, F2
transaction NET Class A Common Stock Sale -$270K -2.62K -5.01% $102.97 49.8K Apr 10, 2025 See footnote F2, F3, F24
transaction NET Class A Common Stock Sale -$937K -9K -18.09% $104.11 40.8K Apr 10, 2025 See footnote F2, F3, F25
transaction NET Class A Common Stock Sale -$1.08M -10.3K -25.18% $105.24 30.5K Apr 10, 2025 See footnote F2, F3, F26
transaction NET Class A Common Stock Sale -$1.74M -16.4K -53.69% $106.08 14.1K Apr 10, 2025 See footnote F2, F3, F27
transaction NET Class A Common Stock Sale -$1.26M -11.8K -83.63% $106.93 2.31K Apr 10, 2025 See footnote F2, F3, F28

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NET Class B Common Stock Conversion of derivative security $0 -52.4K -0.68% $0.00 7.67M Apr 8, 2025 Class A Common Stock 52.4K See footnote F1, F2
transaction NET Class B Common Stock Conversion of derivative security $0 -52.4K -0.68% $0.00 7.62M Apr 9, 2025 Class A Common Stock 52.4K See footnote F1, F2
transaction NET Class B Common Stock Conversion of derivative security $0 -52.4K -0.69% $0.00 7.57M Apr 10, 2025 Class A Common Stock 52.4K See footnote F1, F2
holding NET Class B Common Stock 6.93M Apr 8, 2025 Class A Common Stock 6.93M See footnote F1, F29
holding NET Class B Common Stock 1.06M Apr 8, 2025 Class A Common Stock 1.06M See footnote F1, F30
holding NET Class B Common Stock 2.05M Apr 8, 2025 Class A Common Stock 2.05M See footnote F1, F31
holding NET Class B Common Stock 2.37M Apr 8, 2025 Class A Common Stock 2.37M See footnote F1, F32
holding NET Class B Common Stock 4M Apr 8, 2025 Class A Common Stock 4M See footnote F1, F33
holding NET Class B Common Stock 4M Apr 8, 2025 Class A Common Stock 4M See footnote F1, F34
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock is convertible at any time into Class A Common Stock on a one-to-one basis at the reporting person's election and has no expiration date.
F2 The shares are held of record by The Matthew Prince Revocable Trust dated October 29, 2015, for which the reporting person serves as trustee (the "Revocable Trust").
F3 The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 20, 2023.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $95.91 to $96.875, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (4) through (28) to this Form 4.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $97.00 to $97.455, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $98.06 to $98.99, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $99.095 to $100.06, inclusive.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.20 to $101.10, inclusive.
F9 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $101.355 to $102.35, inclusive.
F10 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $102.385 to $103.38, inclusive.
F11 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $103.40 to $104.395, inclusive.
F12 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $104.445 to $105.12, inclusive.
F13 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $96.695 to $97.69, inclusive.
F14 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $97.70 to $98.69, inclusive.
F15 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $98.71 to $99.70, inclusive.
F16 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $99.74 to $100.52, inclusive.
F17 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $105.99 to $106.68, inclusive.
F18 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $108.14 to $108.93, inclusive.
F19 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $109.55 to $109.66, inclusive.
F20 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $111.28 to $112.25, inclusive.
F21 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $112.295 to $113.26, inclusive.
F22 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $113.30 to $114.29, inclusive.
F23 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $114.30 to $114.80, inclusive.
F24 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $102.365 to $103.295, inclusive.
F25 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $103.54 to $104.50, inclusive.
F26 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $104.565 to $105.56, inclusive.
F27 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $105.57 to $106.56, inclusive.
F28 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $106.57 to $107.42, inclusive.
F29 The shares are held of record by The Prince Family Nonexempt Irrevocable Trust dated March 29, 2016, for which the reporting person serves as an investment advisor.
F30 The shares are held of record by The Prince Family Exempt Irrevocable Trust dated March 29, 2016, for which the reporting person serves as an investment advisor.
F31 The shares are held of record by The Matthew Prince 2023 Grantor Retained Annuity Trust UA 05/22/2023, for which the reporting person serves as co-trustee and investment advisor.
F32 The shares are held of record by The Matthew Prince 2023 Grantor Retained Annuity Trust 2 UA 08/14/2023, for which the reporting person serves as co-trustee and investment advisor.
F33 The shares are held of record by The Matthew Prince 2024 Grantor Retained Annuity Trust UA 05/20/2024, for which the reporting person serves as co-trustee and investment advisor.
F34 The shares are held of record by The Matthew Prince 2024 Grantor Retained Annuity Trust 2 UA 08/20/2024, for which the reporting person serves as co-trustee and investment advisor.

Remarks:

This Form 4 is the first of two forms being filed to report transactions by the reporting person occurring on April 8, 2025 through April 10, 2025.