Michelle Zatlyn - 12 Apr 2022 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
President and COO, Director
Signature
/s/ Lindsey Cochran, by power of attorney
Issuer symbol
NET
Transactions as of
12 Apr 2022
Net transactions value
-$1,476,485
Form type
4
Filing time
14 Apr 2022, 16:05:14 UTC
Previous filing
13 Apr 2022
Next filing
15 Apr 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 +10,257 10,257 12 Apr 2022 See footnote F1, F2
transaction NET Class A Common Stock Sale $229,112 -2,024 -20% $113.20 8,233 12 Apr 2022 See footnote F2, F3, F4
transaction NET Class A Common Stock Sale $209,978 -1,844 -22% $113.87 6,389 12 Apr 2022 See footnote F2, F3, F5
transaction NET Class A Common Stock Sale $265,693 -2,309 -36% $115.07 4,080 12 Apr 2022 See footnote F2, F3, F6
transaction NET Class A Common Stock Sale $250,635 -2,160 -53% $116.03 1,920 12 Apr 2022 See footnote F2, F3, F7
transaction NET Class A Common Stock Sale $149,886 -1,280 -67% $117.10 640 12 Apr 2022 See footnote F2, F3, F8
transaction NET Class A Common Stock Sale $56,863 -480 -75% $118.46 160 12 Apr 2022 See footnote F2, F3, F9
transaction NET Class A Common Stock Sale $19,044 -160 -100% $119.03 0 12 Apr 2022 See footnote F2, F3, F10
transaction NET Class A Common Stock Conversion of derivative security +2,564 2,564 12 Apr 2022 See footnote F1, F11
transaction NET Class A Common Stock Sale $57,164 -505 -20% $113.20 2,059 12 Apr 2022 See footnote F3, F4, F11
transaction NET Class A Common Stock Sale $52,494 -461 -22% $113.87 1,598 12 Apr 2022 See footnote F3, F5, F11
transaction NET Class A Common Stock Sale $66,510 -578 -36% $115.07 1,020 12 Apr 2022 See footnote F3, F6, F11
transaction NET Class A Common Stock Sale $62,658 -540 -53% $116.03 480 12 Apr 2022 See footnote F3, F7, F11
transaction NET Class A Common Stock Sale $37,472 -320 -67% $117.10 160 12 Apr 2022 See footnote F3, F8, F11
transaction NET Class A Common Stock Sale $14,216 -120 -75% $118.46 40 12 Apr 2022 See footnote F3, F9, F11
transaction NET Class A Common Stock Sale $4,761 -40 -100% $119.03 0 12 Apr 2022 See footnote F3, F10, F11

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 -10,257 -0.26% $0.000000 3,948,715 12 Apr 2022 Class B Common Stock 10,257 $2.04 Direct F12
transaction NET Class B Common Stock Options Exercise $0 +10,257 $0.000000 10,257 12 Apr 2022 Class A Common Stock 10,257 Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -10,257 -100% $0.000000* 0 12 Apr 2022 Class A Common Stock 10,257 Direct F1, F13
transaction NET Class B Common Stock Conversion of derivative security $0 -2,564 -0.16% $0.000000 1,563,464 12 Apr 2022 Class A Common Stock 2,564 See footnote F1, F11
holding NET Class B Common Stock 3,716,213 12 Apr 2022 Class A Common Stock 3,716,213 See footnote F1, F2
holding NET Class B Common Stock 294,275 12 Apr 2022 Class A Common Stock 294,275 See footnote F1, F14
holding NET Class B Common Stock 2,000,000 12 Apr 2022 Class A Common Stock 2,000,000 See footnote F1, F15
* 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 Revocable Trust dated November 17, 2016, for which the reporting person serves as co-trustee (the "Revocable Trust").
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 29, 2021.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $112.615 to $113.58, 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 (10) 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 $113.62 to $114.49, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $114.65 to $115.64, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $115.71 to $116.47, inclusive.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $116.725 to $117.50, inclusive
F9 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $117.8975 to $118.84, inclusive.
F10 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $118.99 to $119.07, inclusive.
F11 The shares are held of record by The SZ 2021 Irrevocable Trust dated November 6, 2021, for which the reporting person serves as the appointer.
F12 The option is subject to an early exercise provision and is immediately exercisable. Shares subject to the option vest in 48 equal monthly installments following September 13, 2019.
F13 Upon the conversion of the shares of Class B Common Stock to Class A Common Stock, the shares were re-registered and are now held directly by the Revocable Trust.
F14 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.
F15 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.