Matthew Prince - 13 Feb 2023 Form 4 Insider Report for Cloudflare, Inc. (NET)

Signature
/s/ Lindsey Cochran, by power of attorney
Issuer symbol
NET
Transactions as of
13 Feb 2023
Net transactions value
-$10,454,875
Form type
4
Filing time
15 Feb 2023, 20:07:55 UTC
Previous filing
06 Jan 2023
Next filing
08 Mar 2023

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 +52,384 52,384 13 Feb 2023 See footnote F1, F2
transaction NET Class A Common Stock Sale $199,247 -3,376 -6.4% $59.02 49,008 13 Feb 2023 See footnote F2, F3, F4
transaction NET Class A Common Stock Sale $377,274 -6,300 -13% $59.88 42,708 13 Feb 2023 See footnote F2, F3, F5
transaction NET Class A Common Stock Sale $195,088 -3,202 -7.5% $60.93 39,506 13 Feb 2023 See footnote F2, F3, F6
transaction NET Class A Common Stock Sale $235,313 -3,800 -9.6% $61.92 35,706 13 Feb 2023 See footnote F2, F3, F7
transaction NET Class A Common Stock Sale $1,081,847 -17,159 -48% $63.05 18,547 13 Feb 2023 See footnote F2, F3, F8
transaction NET Class A Common Stock Sale $1,180,574 -18,547 -100% $63.65 0 13 Feb 2023 See footnote F2, F3, F9
transaction NET Class A Common Stock Conversion of derivative security +52,384 52,384 14 Feb 2023 See footnote F1, F2
transaction NET Class A Common Stock Sale $44,276 -700 -1.3% $63.25 51,684 14 Feb 2023 See footnote F2, F3, F10
transaction NET Class A Common Stock Sale $135,056 -2,098 -4.1% $64.37 49,586 14 Feb 2023 See footnote F2, F3, F11
transaction NET Class A Common Stock Sale $586,703 -8,982 -18% $65.32 40,604 14 Feb 2023 See footnote F2, F3, F12
transaction NET Class A Common Stock Sale $1,129,077 -17,028 -42% $66.31 23,576 14 Feb 2023 See footnote F2, F3, F13
transaction NET Class A Common Stock Sale $945,852 -14,076 -60% $67.20 9,500 14 Feb 2023 See footnote F2, F3, F14
transaction NET Class A Common Stock Sale $538,733 -7,900 -83% $68.19 1,600 14 Feb 2023 See footnote F2, F3, F15
transaction NET Class A Common Stock Sale $110,184 -1,600 -100% $68.86 0 14 Feb 2023 See footnote F2, F3, F16
transaction NET Class A Common Stock Conversion of derivative security +52,384 52,384 15 Feb 2023 See footnote F1, F2
transaction NET Class A Common Stock Sale $265,845 -3,900 -7.4% $68.17 48,484 15 Feb 2023 See footnote F2, F3, F17
transaction NET Class A Common Stock Sale $434,615 -6,300 -13% $68.99 42,184 15 Feb 2023 See footnote F2, F3, F18
transaction NET Class A Common Stock Sale $999,797 -14,273 -34% $70.05 27,911 15 Feb 2023 See footnote F2, F3, F19
transaction NET Class A Common Stock Sale $1,072,456 -15,065 -54% $71.19 12,846 15 Feb 2023 See footnote F2, F3, F20
transaction NET Class A Common Stock Sale $922,938 -12,846 -100% $71.85 0 15 Feb 2023 See footnote F2, F3, F21

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 -52,384 -0.33% $0.000000 15,999,029 13 Feb 2023 Class A Common Stock 52,384 See footnote F1, F2, F22
transaction NET Class B Common Stock Conversion of derivative security $0 -52,384 -0.33% $0.000000 15,946,645 14 Feb 2023 Class A Common Stock 52,384 See footnote F1, F2, F22
transaction NET Class B Common Stock Conversion of derivative security $0 -52,384 -0.33% $0.000000 15,894,261 15 Feb 2023 Class A Common Stock 52,384 See footnote F1, F2, F22
holding NET Class B Common Stock 1,741,355 13 Feb 2023 Class A Common Stock 1,741,355 See footnote F1, F23
holding NET Class B Common Stock 377,772 13 Feb 2023 Class A Common Stock 377,772 See footnote F1, F24
holding NET Class B Common Stock 6,928,408 13 Feb 2023 Class A Common Stock 6,928,408 See footnote F1, F25
holding NET Class B Common Stock 1,060,000 13 Feb 2023 Class A Common Stock 1,060,000 See footnote F1, F26
holding NET Class B Common Stock 6,012,938 13 Feb 2023 Class A Common Stock 6,012,938 See footnote F1, F27
* 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 Matthew Prince Revocable Trust dated October 29, 2015, for which the reporting person serves as 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 30, 2021, as modified on November 29, 2022.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $58.385 to $59.38, 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 21 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 $59.39 to $60.35, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $60.43 to $61.39, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $61.43 to $62.415, inclusive.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.43 to $63.425, inclusive.
F9 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.43 to $64.01, inclusive.
F10 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.78 to $63.735, inclusive.
F11 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.78 to $64.75, inclusive.
F12 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $64.78 to $65.775, inclusive.
F13 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.78 to $66.77, inclusive.
F14 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.78 to $67.77, inclusive.
F15 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.78 to $68.74, inclusive.
F16 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.78 to $68.915, inclusive.
F17 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.525 to $68.51, inclusive.
F18 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.56 to $69.55, inclusive.
F19 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.565 to $70.54, inclusive.
F20 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.565 to $71.56, inclusive.
F21 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $71.57 to $72.265, inclusive.
F22 Of the reported shares, 666,667 vest in eight months beginning on February 13, 2023.
F23 The shares are held of record by The Matthew Prince 2021 Grantor Retained Annuity Trust #1 UA 5/25/2021, for which the reporting person serves as co-trustee and investment advisor.
F24 The shares are held of record by The Matthew Prince 2021 Grantor Retained Annuity Trust #2 UA 8/13/2021, for which the reporting person serves as co-trustee and investment advisor.
F25 The shares are held of record by The Prince Family Nonexempt Irrevocable Trust dated March 29, 2016, for which the reporting person serves as an investment advisor.
F26 The shares are held of record by The Prince Family Exempt Irrevocable Trust dated March 29, 2016, for which the reporting person serves as an investment advisor.
F27 The shares are held of record by The Matthew Prince 2022 Grantor Retained Annuity Trust UA 8/12/2022, for which the reporting person serves as co-trustee and investment advisor.