Katrin Suder - 10 May 2021 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role: Director
Signature: /s/ Lindsey Cochran, by power of attorney
Issuer symbol: NET
Transactions as of: 10 May 2021
Net transactions value: -$2,169,302
Form type: 4
Filing time: 11 May 2021, 19:57:39 UTC
Next filing: 18 May 2021
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		+32,000	+483%		38,622	10 May 2021	Direct	F1
transaction	NET	Class A Common Stock	Sale	$1,579,330	-23,497	-61%	$67.21	15,125	10 May 2021	Direct	F2, F3
transaction	NET	Class A Common Stock	Sale	$57,927	-852	-5.6%	$67.99	14,273	10 May 2021	Direct	F2, F4
transaction	NET	Class A Common Stock	Sale	$532,045	-7,651	-54%	$69.54	6,622	10 May 2021	Direct	F2, F5

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	-32,000	-100%	$0.000000^*	0	10 May 2021	Class A Common Stock	32,000		Direct	F1

* 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 sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 16, 2021.
F3	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.83 to $67.80, 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 (3) through (5) to this Form 4.
F4	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.90 to $68.01, inclusive.
F5	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.24 to $69.76, inclusive.