Thomas J. Seifert - Mar 20, 2025 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
CHIEF FINANCIAL OFFICER
Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
Mar 20, 2025
Transactions value $
-$1,200,000
Form type
4
Date filed
3/21/2025, 04:19 PM
Previous filing
Mar 6, 2025
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 +10K +3.41% 304K Mar 20, 2025 Direct F1
transaction NET Class A Common Stock Sale -$1.2M -10K -3.29% $120.00 294K Mar 20, 2025 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 -10K -5.25% $0.00 180K Mar 20, 2025 Class B Common Stock 10K $2.04 Direct F1, F3
transaction NET Class B Common Stock Options Exercise $0 +10K +112.04% $0.00 18.9K Mar 20, 2025 Class A Common Stock 10K Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -10K -52.84% $0.00 8.93K Mar 20, 2025 Class A Common Stock 10K Direct F1
holding NET Class B Common Stock 200K Mar 20, 2025 Class A Common Stock 200K See footnote F1, F4
holding NET Class B Common Stock 61.1K Mar 20, 2025 Class A Common Stock 61.1K See footnote F1, F5
holding NET Class B Common Stock 61.1K Mar 20, 2025 Class A Common Stock 61.1K See footnote F1, F6
holding NET Class B Common Stock 61.1K Mar 20, 2025 Class A Common Stock 61.1K See footnote F1, F7
* 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 sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 26, 2024.
F3 Shares subject to the option are fully vested and immediately exercisable.
F4 The shares are held of record by Center Court Partners Ltd., for which the reporting person serves as a partner.
F5 The shares are held of record by Center Court 2020 Trust 1 UA 12/11/20, for which the reporting person serves as trustee.
F6 The shares are held of record by Center Court 2020 Trust 2 UA 12/11/20, for which the reporting person serves as trustee.
F7 The shares are held of record by Center Court 2020 Trust 3 UA 12/11/20, for which the reporting person serves as trustee.