Zatlyn Michelle - Nov 25, 2025 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
President and Board Co-Chair, Director
Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
Nov 25, 2025
Transactions value $
$0
Form type
4
Date filed
11/26/2025, 04:44 PM
Previous filing
Nov 24, 2025
Next filing
Dec 3, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Zatlyn Michelle President and Board Co-Chair, Director C/O CLOUDFLARE, INC., 101 TOWNSEND STREET, SAN FRANCISCO /s/ Lindsey Cochran, by power of attorney 2025-11-26 0001786951

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 Gift $0 -1 0% $0.00 552K Nov 25, 2025 Class A Common Stock 1 See footnote F1, F2
transaction NET Class B Common Stock Gift $0 +1 $0.00 1 Nov 25, 2025 Class A Common Stock 1 By LLC F1
transaction NET Class B Common Stock Gift $0 -1 -100% $0.00 0 Nov 26, 2025 Class A Common Stock 1 By LLC F1, F3
holding NET Class B Common Stock 352K Nov 25, 2025 Class A Common Stock 352K See footnote F1, F4
holding NET Class B Common Stock 2.06M Nov 25, 2025 Class A Common Stock 2.06M See footnote F1, F5
holding NET Class B Common Stock 4.82K Nov 25, 2025 Class A Common Stock 4.82K See footnote F1, F6
holding NET Class B Common Stock 922K Nov 25, 2025 Class A Common Stock 922K See footnote F1, F7
holding NET Class B Common Stock 945K Nov 25, 2025 Class A Common Stock 945K See footnote F1, F8
holding NET Class B Common Stock 791K Nov 25, 2025 Class A Common Stock 791K See footnote F1, F9
holding NET Class B Common Stock 1M Nov 25, 2025 Class A Common Stock 1M See footnote F1, F10
holding NET Class B Common Stock 200K Nov 25, 2025 Class A Common Stock 200K See footnote F1, F11
holding NET Class B Common Stock 250K Nov 25, 2025 Class A Common Stock 250K See footnote F1, F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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 Sutherland/Zatlyn Revocable Trust dated November 17, 2016, for which the reporting person serves as co-trustee.
F3 Represents a gift to a 501(c)(3) charitable organization.
F4 The shares are held of record by The SZ 2020 Irrevocable Trust dated November 25, 2020, for which the reporting person serves as an investment advisor.
F5 The shares are held of record by The SZ 2021 Irrevocable Trust dated November 6, 2021, for which the reporting person serves as the appointer.
F6 The shares are held of record by The SZ 2023 Irrevocable Trust dated August 29, 2023, for which the reporting person serves as a co-trustee.
F7 The shares are held of record by The Sutherland/Zatlyn 2024 Annuity Trust dated May 29, 2024, for which the reporting person serves as co-trustee.
F8 The shares are held of record by The Sutherland/Zatlyn 2024 Annuity Trust II dated August 19, 2024, for which the reporting person serves as co-trustee.
F9 The shares are held of record by The Sutherland/Zatlyn 2024 Annuity Trust III dated November 12, 2024, for which the reporting person serves as co-trustee.
F10 The shares are held of record by The Sutherland/Zatlyn 2025 Annuity Trust dated May 23, 2025, for which the reporting person serves as trustee.
F11 The shares are held of record by The Sutherland/Zatlyn 2025 Annuity Trust II dated August 15, 2025, for which the reporting person serves as trustee.
F12 The shares are held of record by The Sutherland/Zatlyn 2025 Annuity Trust III dated November 11, 2025, for which the reporting person serves as trustee.