Thomas J. Seifert - 25 May 2021 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
Chief Financial Officer
Signature
/s/ Lindsey Cochran, by power of attorney
Issuer symbol
NET
Transactions as of
25 May 2021
Net transactions value
-$1,594,498
Form type
4
Filing time
27 May 2021, 08:23:09 UTC
Previous filing
12 May 2021
Next filing
10 Jun 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 +20,000 +40% 70,156 25 May 2021 Direct F1
transaction NET Class A Common Stock Sale $1,234,331 -15,514 -22% $79.56 54,642 25 May 2021 Direct F2, F3
transaction NET Class A Common Stock Sale $360,167 -4,486 -8.2% $80.29 50,156 25 May 2021 Direct F2, F4

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 Employee Stock Option (right to buy) Options Exercise $0 -20,000 -2.9% $0.000000 674,058 25 May 2021 Class B Common Stock 20,000 $1.95 Direct F1, F5
transaction NET Class B Common Stock Options Exercise $0 +20,000 +7% $0.000000 303,925 25 May 2021 Class A Common Stock 20,000 Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -20,000 -6.6% $0.000000 283,925 25 May 2021 Class A Common Stock 20,000 Direct F1
holding NET Class B Common Stock 76,100 25 May 2021 Class A Common Stock 76,100 See footnote F1, F6
holding NET Class B Common Stock 76,100 25 May 2021 Class A Common Stock 76,100 See footnote F1, F7
holding NET Class B Common Stock 76,100 25 May 2021 Class A Common Stock 76,100 See footnote F1, F8
* 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 November 9, 2020.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $79.02 to $80.01, 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) and (4) 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 $80.02 to $80.73, inclusive.
F5 The option is subject to an early exercise provision and is immediately exercisable. One-fourth of the total shares vested on June 1, 2018 and the remaining shares vest in 36 equal monthly installments thereafter.
F6 The shares are held of record by Center Court 2020 Trust 1 UA 12/11/20, for which the reporting person serves as trustee.
F7 The shares are held of record by Center Court 2020 Trust 2 UA 12/11/20, for which the reporting person serves as trustee.
F8 The shares are held of record by Center Court 2020 Trust 3 UA 12/11/20, for which the reporting person serves as trustee.