Douglas James Kramer - 15 Nov 2021 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
General Counsel
Signature
/s/ Lindsey Cochran, by power of attorney
Issuer symbol
NET
Transactions as of
15 Nov 2021
Transactions value $
-$1,600,737
Form type
4
Filing time
17 Nov 2021, 16:37:01 UTC
Previous filing
03 Nov 2021
Next filing
22 Nov 2021
SEC
View on sec.gov

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 +7,877 +24% 40,848 15 Nov 2021 Direct F1, F2

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 Restricted Stock Units Options Exercise $0 -6,250 -17% $0 31,250 15 Nov 2021 Class B Common Stock 6,250 Direct F3, F4
transaction NET Restricted Stock Units Options Exercise $0 -9,375 -12% $0 65,625 15 Nov 2021 Class B Common Stock 9,375 Direct F3, F5
transaction NET Class B Common Stock Options Exercise $0 +15,625 +8.5% $0 198,423 15 Nov 2021 Class A Common Stock 15,625 Direct F1
transaction NET Class B Common Stock Tax liability -$1,600,736 -7,748 -3.9% $206.6 190,675 15 Nov 2021 Class A Common Stock 7,748 Direct F1, F6
transaction NET Class B Common Stock Conversion of derivative security $0 -7,877 -4.1% $0 182,798 15 Nov 2021 Class A Common Stock 7,877 Direct F1
* 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 Includes 319 shares of Class A Common Stock acquired under the Issuer's employee stock purchase plan on November 15, 2021.
F3 Each restricted stock unit, or RSU, represents a contingent right to receive one share of Issuer Class B Common Stock.
F4 The RSUs vest in 16 equal quarterly installments following February 15, 2019.
F5 The RSUs vest in 16 equal quarterly installments following August 15, 2019.
F6 The shares were withheld to satisfy the reporting person's tax liability in connection with the vesting of RSUs.