Thomas J. Seifert - Mar 17, 2022 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
Chief Financial Officer
Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
Mar 17, 2022
Transactions value $
-$1,000,000
Form type
4
Date filed
3/17/2022, 08:22 PM
Previous filing
Feb 22, 2022
Next filing
Mar 30, 2022

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 +10K +11.57% 96.4K Mar 17, 2022 Direct F1
transaction NET Class A Common Stock Sale -$1M -10K -10.37% $100.00* 86.4K Mar 17, 2022 Direct F2

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 -10K -4.46% $0.00 214K Mar 17, 2022 Class B Common Stock 10K $1.95 Direct F1, F3
transaction NET Class B Common Stock Options Exercise $0 +10K +3.86% $0.00 269K Mar 17, 2022 Class A Common Stock 10K Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -10K -3.72% $0.00 259K Mar 17, 2022 Class A Common Stock 10K Direct F1
holding NET Class B Common Stock 76.1K Mar 17, 2022 Class A Common Stock 76.1K See footnote F1, F4
holding NET Class B Common Stock 76.1K Mar 17, 2022 Class A Common Stock 76.1K See footnote F1, F5
holding NET Class B Common Stock 76.1K Mar 17, 2022 Class A Common Stock 76.1K See footnote F1, F6
* 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 24, 2021.
F3 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.
F4 The shares are held of record by Center Court 2020 Trust 1 UA 12/11/20, for which the reporting person serves as trustee.
F5 The shares are held of record by Center Court 2020 Trust 2 UA 12/11/20, for which the reporting person serves as trustee.
F6 The shares are held of record by Center Court 2020 Trust 3 UA 12/11/20, for which the reporting person serves as trustee.