Douglas James Kramer - May 15, 2021 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
General Counsel
Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
May 15, 2021
Transactions value $
-$560,180
Form type
4
Date filed
5/18/2021, 08:41 PM
Next filing
Jun 2, 2021

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 +7.88K +24.12% 40.5K May 15, 2021 Direct F1

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 Restricted Stock Units Options Exercise $0 -6.25K -12.5% $0.00 43.8K May 15, 2021 Class B Common Stock 6.25K Direct F2, F3
transaction NET Restricted Stock Units Options Exercise $0 -9.38K -10% $0.00 84.4K May 15, 2021 Class B Common Stock 9.38K Direct F2, F4
transaction NET Class B Common Stock Options Exercise $0 +15.6K +5.44% $0.00 303K May 15, 2021 Class A Common Stock 15.6K Direct F1
transaction NET Class B Common Stock Tax liability -$560K -7.75K -2.56% $72.30 295K May 15, 2021 Class A Common Stock 7.75K Direct F1, F5
transaction NET Class B Common Stock Conversion of derivative security $0 -7.88K -2.67% $0.00 287K May 15, 2021 Class A Common Stock 7.88K 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 Each restricted stock unit, or RSU, represents a contingent right to receive one share of Issuer Class B Common Stock.
F3 The RSUs vest in 16 equal quarterly installments following February 15, 2019.
F4 The RSUs vest in 16 equal quarterly installments following August 15, 2019.
F5 The shares were withheld to satisfy the reporting person's tax liability in connection with the vesting of RSUs.