Paul D. Underwood - 18 Mar 2022 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
Chief Accounting Officer
Signature
/s/ Lindsey Cochran, by power of attorney
Issuer symbol
NET
Transactions as of
18 Mar 2022
Net transactions value
-$211,740
Form type
4
Filing time
21 Mar 2022, 16:09:08 UTC
Previous filing
22 Feb 2022
Next filing
19 Apr 2022
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 +2,000 +6.7% 31,895 18 Mar 2022 Direct F1
transaction NET Class A Common Stock Sale $211,740 -2,000 -6.3% $105.87 29,895 18 Mar 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 -2,000 -2.7% $0.000000 71,500 18 Mar 2022 Class B Common Stock 2,000 $9.97 Direct F3
transaction NET Class B Common Stock Options Exercise $0 +2,000 $0.000000 2,000 18 Mar 2022 Class A Common Stock 2,000 Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -2,000 -100% $0.000000* 0 18 Mar 2022 Class A Common Stock 2,000 Direct F1
holding NET Employee Stock Option (right to buy) 109,970 18 Mar 2022 Class B Common Stock 109,970 $9.97 Direct F4
* 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 May 12, 2021.
F3 The option is subject to an early exercise provision and is immediately exercisable. Shares subject to the option vest in 48 equal monthly installments beginning on September 13, 2019.
F4 The option is subject to an early exercise provision and is immediately exercisable. 1/4th of the shares vested on March 11, 2020 and 1/16th of the shares vest in 12 equal quarterly installments thereafter.