Michelle Zatlyn - 24 Feb 2022 Form 4 Insider Report for Cloudflare, Inc. (NET)

Signature
/s/ Lindsey Cochran, by power of attorney
Issuer symbol
NET
Transactions as of
24 Feb 2022
Net transactions value
-$558,053
Form type
4
Filing time
28 Feb 2022, 16:35:53 UTC
Previous filing
24 Feb 2022
Next filing
13 Apr 2022

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 +5,555 5,555 24 Feb 2022 See footnote F1, F2
transaction NET Class A Common Stock Sale $5,797 -65 -1.2% $89.18 5,490 24 Feb 2022 See footnote F2, F3, F4
transaction NET Class A Common Stock Sale $16,321 -180 -3.3% $90.67 5,310 24 Feb 2022 See footnote F2, F3, F5
transaction NET Class A Common Stock Sale $7,889 -86 -1.6% $91.73 5,224 24 Feb 2022 See footnote F2, F3, F6
transaction NET Class A Common Stock Sale $16,209 -174 -3.3% $93.15 5,050 24 Feb 2022 See footnote F2, F3, F7
transaction NET Class A Common Stock Sale $15,961 -170 -3.4% $93.89 4,880 24 Feb 2022 See footnote F2, F3, F8
transaction NET Class A Common Stock Sale $18,052 -190 -3.9% $95.01 4,690 24 Feb 2022 See footnote F2, F3, F9
transaction NET Class A Common Stock Sale $37,481 -390 -8.3% $96.10 4,300 24 Feb 2022 See footnote F2, F3, F10
transaction NET Class A Common Stock Sale $35,083 -361 -8.4% $97.18 3,939 24 Feb 2022 See footnote F2, F3, F11
transaction NET Class A Common Stock Sale $31,787 -324 -8.2% $98.11 3,615 24 Feb 2022 See footnote F2, F3, F12
transaction NET Class A Common Stock Sale $74,884 -754 -21% $99.32 2,861 24 Feb 2022 See footnote F2, F3, F13
transaction NET Class A Common Stock Sale $78,072 -779 -27% $100.22 2,082 24 Feb 2022 See footnote F2, F3, F14
transaction NET Class A Common Stock Sale $10,340 -102 -4.9% $101.37 1,980 24 Feb 2022 See footnote F2, F3, F15
transaction NET Class A Common Stock Sale $25,414 -248 -13% $102.48 1,732 24 Feb 2022 See footnote F2, F3, F16
transaction NET Class A Common Stock Sale $20,795 -201 -12% $103.46 1,531 24 Feb 2022 See footnote F2, F3, F17
transaction NET Class A Common Stock Sale $13,826 -132 -8.6% $104.74 1,399 24 Feb 2022 See footnote F2, F3, F18
transaction NET Class A Common Stock Sale $44,057 -416 -30% $105.91 983 24 Feb 2022 See footnote F2, F3, F19
transaction NET Class A Common Stock Sale $33,051 -309 -31% $106.96 674 24 Feb 2022 See footnote F2, F3, F20
transaction NET Class A Common Stock Sale $45,278 -419 -62% $108.06 255 24 Feb 2022 See footnote F2, F3, F21
transaction NET Class A Common Stock Sale $27,756 -255 -100% $108.85 0 24 Feb 2022 See footnote F2, F3, F22

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 Class B Common Stock Conversion of derivative security $0 -5,555 -0.35% $0.000000 1,576,284 24 Feb 2022 Class A Common Stock 5,555 See footnote F1, F2
holding NET Class B Common Stock 294,275 24 Feb 2022 Class A Common Stock 294,275 See footnote F1, F23
holding NET Class B Common Stock 2,000,000 24 Feb 2022 Class A Common Stock 2,000,000 See footnote F1, F24
* 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 shares are held of record by The Sutherland/Zatlyn Irrevocable Remainder Trust dated December 15, 2017, for which the reporting person serves as co-trustee. Effective February 28, 2022, such shares are held by The SZ 2021 Irrevocable Trust dated November 6, 2021, for which the reporting person serves as co-trustee.
F3 The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 11, 2020.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $88.75 to $89.55, inclusive. The reporting person undertakes to provide to 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 (4) through (22) to this Form 4.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.20 to $91.16, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $91.21 to $92.07, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $92.43 to $93.39, inclusive.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $93.43 to $94.35, inclusive.
F9 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $94.63 to $95.60, inclusive.
F10 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $95.65 to $96.61, inclusive.
F11 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $96.71 to $97.665, inclusive.
F12 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $97.82 to $98.78, inclusive.
F13 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $98.84 to $99.72, inclusive.
F14 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $99.85 to $100.645, inclusive.
F15 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.855 to $101.84, inclusive.
F16 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $102.005 to $102.825, inclusive.
F17 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $103.05 to $103.99, inclusive.
F18 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $104.28 to $105.24, inclusive.
F19 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $105.36 to $106.345, inclusive.
F20 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $106.43 to $107.42, inclusive.
F21 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $107.54 to $108.485, inclusive.
F22 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $108.55 to $109.26, inclusive.
F23 The shares are held of record by SZ 2020 Irrevocable Trust dated November 25, 2020, for which the reporting person serves as an investment advisor.
F24 The shares are held of record by The Sutherland/Zatlyn 2021 Annuity Trust dated May 22, 2021, for which the reporting person serves as co-trustee.

Remarks:

This Form 4 is the second of two forms being filed to report transactions by the reporting person occurring on February 24, 2022.