THOMAS J. SEIFERT - 17 Mar 2022 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
Chief Financial Officer
Signature
/s/ Lindsey Cochran, by power of attorney
Issuer symbol
NET
Transactions as of
17 Mar 2022
Transactions value $
-$1,000,000
Form type
4
Filing time
17 Mar 2022, 20:22:38 UTC
Previous filing
22 Feb 2022
Next filing
30 Mar 2022
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 +10,000 +12% 96,433 17 Mar 2022 Direct F1
transaction NET Class A Common Stock Sale -$1,000,000 -10,000 -10% $100* 86,433 17 Mar 2022 Direct 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 Employee Stock Option (right to buy) Options Exercise $0 -10,000 -4.5% $0 214,058 17 Mar 2022 Class B Common Stock 10,000 $1.95 Direct F1, F3
transaction NET Class B Common Stock Options Exercise $0 +10,000 +3.9% $0 268,925 17 Mar 2022 Class A Common Stock 10,000 Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -10,000 -3.7% $0 258,925 17 Mar 2022 Class A Common Stock 10,000 Direct F1
holding NET Class B Common Stock 76,100 17 Mar 2022 Class A Common Stock 76,100 See footnote F1, F4
holding NET Class B Common Stock 76,100 17 Mar 2022 Class A Common Stock 76,100 See footnote F1, F5
holding NET Class B Common Stock 76,100 17 Mar 2022 Class A Common Stock 76,100 See footnote F1, F6
* 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 sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 24, 2021.
F3 The option is subject to an early exercise provision and is immediately exercisable. One-fourth of the total shares vested on June 1, 2018 and the remaining shares vest in 36 equal monthly installments thereafter.
F4 The shares are held of record by Center Court 2020 Trust 1 UA 12/11/20, for which the reporting person serves as trustee.
F5 The shares are held of record by Center Court 2020 Trust 2 UA 12/11/20, for which the reporting person serves as trustee.
F6 The shares are held of record by Center Court 2020 Trust 3 UA 12/11/20, for which the reporting person serves as trustee.