Matthew Prince - 17 Nov 2025 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
CEO & Board Co-Chair, Director, 10%+ Owner
Signature
/s/ Lindsey Cochran, by power of attorney
Issuer symbol
NET
Transactions as of
17 Nov 2025
Net transactions value
-$31,306,971
Form type
4
Filing time
19 Nov 2025, 19:59:24 UTC
Previous filing
18 Nov 2025
Next filing
26 Nov 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Prince Matthew CEO & Board Co-Chair, Director, 10%+ Owner C/O CLOUDFLARE, INC., 405 COMAL STREET, AUSTIN /s/ Lindsey Cochran, by power of attorney 19 Nov 2025 0001786925

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 +236% 74,559 17 Nov 2025 See footnote F1, F2
transaction NET Class A Common Stock Sale $2,831,313 -14,003 -19% $202.19 60,556 17 Nov 2025 See footnote F2, F3, F4
transaction NET Class A Common Stock Sale $937,891 -4,622 -7.6% $202.92 55,934 17 Nov 2025 See footnote F2, F3, F5
transaction NET Class A Common Stock Sale $1,185,811 -5,804 -10% $204.31 50,130 17 Nov 2025 See footnote F2, F3, F6
transaction NET Class A Common Stock Sale $1,351,329 -6,589 -13% $205.09 43,541 17 Nov 2025 See footnote F2, F3, F7
transaction NET Class A Common Stock Sale $1,924,314 -9,335 -21% $206.14 34,206 17 Nov 2025 See footnote F2, F3, F8
transaction NET Class A Common Stock Sale $1,689,170 -8,156 -24% $207.11 26,050 17 Nov 2025 See footnote F2, F3, F9
transaction NET Class A Common Stock Sale $791,491 -3,803 -15% $208.12 22,247 17 Nov 2025 See footnote F2, F3, F10
transaction NET Class A Common Stock Sale $15,039 -72 -0.32% $208.88 22,175 17 Nov 2025 See footnote F2, F3, F11
transaction NET Class A Common Stock Conversion of derivative security +52,384 +236% 74,559 18 Nov 2025 See footnote F1, F2
transaction NET Class A Common Stock Sale $13,776 -72 -0.1% $191.34 74,487 18 Nov 2025 See footnote F2, F3, F12
transaction NET Class A Common Stock Sale $67,970 -351 -0.47% $193.65 74,136 18 Nov 2025 See footnote F2, F3, F13
transaction NET Class A Common Stock Sale $514,829 -2,649 -3.6% $194.35 71,487 18 Nov 2025 See footnote F2, F3, F14
transaction NET Class A Common Stock Sale $1,122,638 -5,750 -8% $195.24 65,737 18 Nov 2025 See footnote F2, F3, F15
transaction NET Class A Common Stock Sale $1,595,622 -8,126 -12% $196.36 57,611 18 Nov 2025 See footnote F2, F3, F16
transaction NET Class A Common Stock Sale $1,814,550 -9,195 -16% $197.34 48,416 18 Nov 2025 See footnote F2, F3, F17
transaction NET Class A Common Stock Sale $2,175,900 -10,972 -23% $198.31 37,444 18 Nov 2025 See footnote F2, F3, F18
transaction NET Class A Common Stock Sale $2,703,927 -13,571 -36% $199.24 23,873 18 Nov 2025 See footnote F2, F3, F19
transaction NET Class A Common Stock Sale $339,574 -1,698 -7.1% $199.98 22,175 18 Nov 2025 See footnote F2, F3, F20
transaction NET Class A Common Stock Conversion of derivative security +52,384 +236% 74,559 19 Nov 2025 See footnote F1, F2
transaction NET Class A Common Stock Sale $1,484,951 -7,658 -10% $193.91 66,901 19 Nov 2025 See footnote F2, F3, F21
transaction NET Class A Common Stock Sale $3,889,977 -19,959 -30% $194.90 46,942 19 Nov 2025 See footnote F2, F3, F22
transaction NET Class A Common Stock Sale $3,392,548 -17,322 -37% $195.85 29,620 19 Nov 2025 See footnote F2, F3, F23
transaction NET Class A Common Stock Sale $1,388,515 -7,061 -24% $196.65 22,559 19 Nov 2025 See footnote F2, F3, F24
transaction NET Class A Common Stock Sale $75,837 -384 -1.7% $197.49 22,175 19 Nov 2025 See footnote F2, F3, F25
holding NET Class A Common Stock 349,644 17 Nov 2025 Direct

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 -0.88% $0.000000 5,924,758 17 Nov 2025 Class A Common Stock 52,384 See footnote F1, F2
transaction NET Class B Common Stock Conversion of derivative security $0 -52,384 -0.88% $0.000000 5,872,374 18 Nov 2025 Class A Common Stock 52,384 See footnote F1, F2
transaction NET Class B Common Stock Conversion of derivative security $0 -52,384 -0.89% $0.000000 5,819,990 19 Nov 2025 Class A Common Stock 52,384 See footnote F1, F2
holding NET Class B Common Stock 6,928,408 17 Nov 2025 Class A Common Stock 6,928,408 See footnote F1, F26
holding NET Class B Common Stock 1,060,000 17 Nov 2025 Class A Common Stock 1,060,000 See footnote F1, F27
holding NET Class B Common Stock 2,952,186 17 Nov 2025 Class A Common Stock 2,952,186 See footnote F1, F28
holding NET Class B Common Stock 3,065,015 17 Nov 2025 Class A Common Stock 3,065,015 See footnote F1, F29
holding NET Class B Common Stock 3,103,644 17 Nov 2025 Class A Common Stock 3,103,644 See footnote F1, F30
holding NET Class B Common Stock 2,000,000 17 Nov 2025 Class A Common Stock 2,000,000 See footnote F1, F31
holding NET Class B Common Stock 2,000,000 17 Nov 2025 Class A Common Stock 2,000,000 See footnote F1, F32
* 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 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 February 11, 2025.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $201.61 to $202.59, 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 (25) 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 $202.61 to $203.45, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $203.625 to $204.62, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $204.625 to $205.61, inclusive.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $205.645 to $206.64, inclusive.
F9 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $206.645 to $207.64, inclusive.
F10 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $207.655 to $208.61, inclusive.
F11 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $208.685 to $209.39, inclusive.
F12 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $191.01 to $191.995, inclusive.
F13 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $192.765 to $193.745, inclusive.
F14 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $193.765 to $194.745, inclusive.
F15 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $194.77 to $195.76, inclusive.
F16 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $195.785 to $196.77, inclusive.
F17 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $196.785 to $197.78, inclusive.
F18 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $197.785 to $198.78, inclusive.
F19 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $198.785 to $199.78, inclusive.
F20 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $199.785 to $200.325, inclusive.
F21 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $193.37 to $194.36, inclusive.
F22 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $194.37 to $195.36, inclusive.
F23 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $195.375 to $196.36, inclusive.
F24 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $196.38 to $197.31, inclusive.
F25 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $197.43 to $197.61, inclusive.
F26 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.
F27 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.
F28 The shares are held of record by The Prince 2021 Remainder Trust dated September 23, 2021, for which the reporting person serves as an investment advisor.
F29 The shares are held of record by The Matthew Prince 2024 Grantor Retained Annuity Trust dated 05/20/2024, for which the reporting person serves as co-trustee and investment advisor.
F30 The shares are held of record by The Matthew Prince 2024 Grantor Retained Annuity Trust 2 dated 08/20/2024, for which the reporting person serves as co-trustee and investment advisor.
F31 The shares are held of record by The Matthew Prince 2025 Grantor Retained Annuity Trust dated May 10, 2025, for which the reporting person serves as an investment advisor.
F32 The shares are held of record by The Matthew Prince 2025 Grantor Retained Annuity Trust 2 dated August 11, 2025, for which the reporting person serves as co-trustee and investment advisor.