Douglas James Kramer - Feb 3, 2025 Form 4 Insider Report for Cloudflare, Inc. (NET)

Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
Feb 3, 2025
Transactions value $
-$326,648
Form type
4
Date filed
2/5/2025, 06:00 PM
Previous filing
Jan 6, 2025
Next filing
Feb 7, 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 +2.48K +1.41% 178K Feb 3, 2025 Direct F1
transaction NET Class A Common Stock Sale -$327K -2.48K -1.39% $131.66 176K Feb 3, 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 -2.48K -4.82% $0.00 49K Feb 3, 2025 Class B Common Stock 2.48K $2.04 Direct F1, F3
transaction NET Class B Common Stock Options Exercise $0 +2.48K +4.62% $0.00 56.2K Feb 3, 2025 Class A Common Stock 2.48K Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -2.48K -4.42% $0.00 53.7K Feb 3, 2025 Class A Common Stock 2.48K Direct F1
* 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 29, 2023.
F3 Shares subject to the option are fully vested and immediately exercisable.