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

Role
Chief Legal Officer
Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
Nov 3, 2025
Transactions value $
-$766,599
Form type
4
Date filed
11/5/2025, 04:39 PM
Previous filing
Oct 1, 2025
Next filing
Nov 12, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Kramer Douglas James Chief Legal Officer C/O CLOUDFLARE, INC., 900 19TH STREET NW, SUITE 375, WASHINGTON /s/ Lindsey Cochran, by power of attorney 2025-11-05 0001787168

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NET Class A Common Stock Sale -$243K -955 -0.72% $254.66 131K Nov 3, 2025 Direct F1, F2
transaction NET Class A Common Stock Sale -$297K -1.16K -0.89% $255.58 130K Nov 3, 2025 Direct F1, F3
transaction NET Class A Common Stock Sale -$226K -882 -0.68% $256.41 129K Nov 3, 2025 Direct F1, F4

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 -18.5K -37.74% $0.00 30.5K Nov 3, 2025 Class B Common Stock 18.5K $2.04 Direct F5, F6
transaction NET Class B Common Stock Options Exercise $0 +18.5K +99.06% $0.00 37.2K Nov 3, 2025 Class A Common Stock 18.5K Direct F6
* 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 The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 25, 2024.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $254.15 to $255.1425, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (4) to this Form 4.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $255.18 to $256.11, inclusive.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $256.25 to $256.84, inclusive.
F5 Shares subject to the option are fully vested and immediately exercisable.
F6 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.