Matthew Prince - 24 Feb 2026 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
CEO & Board Co-Chair, Director, 10%+ Owner
Signature
/s/ Chad Skinner, by power of attorney
Issuer symbol
NET
Transactions as of
24 Feb 2026
Net transactions value
-$26,559,683
Form type
4
Filing time
26 Feb 2026, 21:04:43 UTC
Previous filing
18 Feb 2026
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/ Chad Skinner, by power of attorney 26 Feb 2026 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 +229% 75,295 24 Feb 2026 See footnote F1, F2
transaction NET Class A Common Stock Sale $95,300 -595 -0.79% $160.17 74,700 24 Feb 2026 See footnote F2, F3, F4
transaction NET Class A Common Stock Sale $363,174 -2,242 -3% $161.99 72,458 24 Feb 2026 See footnote F2, F3, F5
transaction NET Class A Common Stock Sale $963,377 -5,917 -8.2% $162.82 66,541 24 Feb 2026 See footnote F2, F3, F6
transaction NET Class A Common Stock Sale $3,500,257 -21,363 -32% $163.85 45,178 24 Feb 2026 See footnote F2, F3, F7
transaction NET Class A Common Stock Sale $2,439,045 -14,813 -33% $164.66 30,365 24 Feb 2026 See footnote F2, F3, F8
transaction NET Class A Common Stock Sale $885,442 -5,340 -18% $165.81 25,025 24 Feb 2026 See footnote F2, F3, F9
transaction NET Class A Common Stock Sale $352,316 -2,114 -8.4% $166.66 22,911 24 Feb 2026 See footnote F2, F3, F10
transaction NET Class A Common Stock Conversion of derivative security +52,384 +229% 75,295 25 Feb 2026 See footnote F1, F2
transaction NET Class A Common Stock Sale $431,904 -2,645 -3.5% $163.29 72,650 25 Feb 2026 See footnote F2, F3, F11
transaction NET Class A Common Stock Sale $232,117 -1,411 -1.9% $164.50 71,239 25 Feb 2026 See footnote F2, F3, F12
transaction NET Class A Common Stock Sale $135,720 -821 -1.2% $165.31 70,418 25 Feb 2026 See footnote F2, F3, F13
transaction NET Class A Common Stock Sale $927,071 -5,562 -7.9% $166.68 64,856 25 Feb 2026 See footnote F2, F3, F14
transaction NET Class A Common Stock Sale $1,112,518 -6,641 -10% $167.52 58,215 25 Feb 2026 See footnote F2, F3, F15
transaction NET Class A Common Stock Sale $1,460,517 -8,657 -15% $168.71 49,558 25 Feb 2026 See footnote F2, F3, F16
transaction NET Class A Common Stock Sale $1,022,175 -6,032 -12% $169.46 43,526 25 Feb 2026 See footnote F2, F3, F17
transaction NET Class A Common Stock Sale $936,069 -5,480 -13% $170.82 38,046 25 Feb 2026 See footnote F2, F3, F18
transaction NET Class A Common Stock Sale $2,041,782 -11,904 -31% $171.52 26,142 25 Feb 2026 See footnote F2, F3, F19
transaction NET Class A Common Stock Sale $557,499 -3,231 -12% $172.55 22,911 25 Feb 2026 See footnote F2, F3, F20
transaction NET Class A Common Stock Conversion of derivative security +52,384 +229% 75,295 26 Feb 2026 See footnote F1, F2
transaction NET Class A Common Stock Sale $701,032 -4,097 -5.4% $171.11 71,198 26 Feb 2026 See footnote F2, F3, F21
transaction NET Class A Common Stock Sale $1,443,402 -8,393 -12% $171.98 62,805 26 Feb 2026 See footnote F2, F3, F22
transaction NET Class A Common Stock Sale $1,025,564 -5,926 -9.4% $173.06 56,879 26 Feb 2026 See footnote F2, F3, F23
transaction NET Class A Common Stock Sale $2,725,514 -15,648 -28% $174.18 41,231 26 Feb 2026 See footnote F2, F3, F24
transaction NET Class A Common Stock Sale $2,527,276 -14,454 -35% $174.85 26,777 26 Feb 2026 See footnote F2, F3, F25
transaction NET Class A Common Stock Sale $610,152 -3,468 -13% $175.94 23,309 26 Feb 2026 See footnote F2, F3, F26
transaction NET Class A Common Stock Sale $70,462 -398 -1.7% $177.04 22,911 26 Feb 2026 See footnote F2, F3, F27
holding NET Class A Common Stock 406,811 24 Feb 2026 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 -1% $0.000000 4,981,082 24 Feb 2026 Class A Common Stock 52,384 See footnote F1, F2
transaction NET Class B Common Stock Conversion of derivative security $0 -52,384 -1.1% $0.000000 4,928,698 25 Feb 2026 Class A Common Stock 52,384 See footnote F1, F2
transaction NET Class B Common Stock Conversion of derivative security $0 -52,384 -1.1% $0.000000 4,876,314 26 Feb 2026 Class A Common Stock 52,384 See footnote F1, F2
holding NET Class B Common Stock 6,928,408 24 Feb 2026 Class A Common Stock 6,928,408 See footnote F1, F28
holding NET Class B Common Stock 1,060,000 24 Feb 2026 Class A Common Stock 1,060,000 See footnote F1, F29
holding NET Class B Common Stock 2,951,829 24 Feb 2026 Class A Common Stock 2,951,829 See footnote F1, F30
holding NET Class B Common Stock 3,065,015 24 Feb 2026 Class A Common Stock 3,065,015 See footnote F1, F31
holding NET Class B Common Stock 3,103,644 24 Feb 2026 Class A Common Stock 3,103,644 See footnote F1, F32
holding NET Class B Common Stock 2,000,000 24 Feb 2026 Class A Common Stock 2,000,000 See footnote F1, F33
holding NET Class B Common Stock 2,000,000 24 Feb 2026 Class A Common Stock 2,000,000 See footnote F1, F34
* 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 $159.62 to $160.605, 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 (27) 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 $161.29 to $162.27, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $162.29 to $163.27, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $163.295 to $164.29, inclusive.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $164.295 to $165.28, inclusive.
F9 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $165.30 to $166.295, inclusive.
F10 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $166.325 to $167.14, inclusive.
F11 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $162.88 to $163.87, inclusive.
F12 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $164.00 to $164.88, inclusive.
F13 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $165.005 to $165.925, inclusive.
F14 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $166.05 to $167.045, inclusive.
F15 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $167.065 to $168.06, inclusive.
F16 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $168.10 to $169.09, inclusive.
F17 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $169.10 to $170.095, inclusive.
F18 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $170.105 to $171.10, inclusive.
F19 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $171.12 to $172.10, inclusive.
F20 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $172.125 to $172.995, inclusive.
F21 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $170.505 to $171.50, inclusive.
F22 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $171.515 to $172.495, inclusive.
F23 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $172.535 to $173.53, inclusive.
F24 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $173.54 to $174.535, inclusive.
F25 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $174.54 to $175.52, inclusive.
F26 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $175.575 to $176.45, inclusive.
F27 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $176.60 to $177.285, inclusive.
F28 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.
F29 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.
F30 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.
F31 The shares are held of record by The Matthew Prince 2024 Grantor Retained Annuity Trust dated May 20, 2024, for which the reporting person serves as co-trustee and investment advisor.
F32 The shares are held of record by The Matthew Prince 2024 Grantor Retained Annuity Trust 2 dated August 20, 2024, for which the reporting person serves as co-trustee and investment advisor.
F33 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.
F34 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.