Douglas James Kramer - 15 May 2022 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
General Counsel
Signature
/s/ Lindsey Cochran, by power of attorney
Issuer symbol
NET
Transactions as of
15 May 2022
Net transactions value
-$514,312
Form type
4
Filing time
17 May 2022, 16:20:29 UTC
Previous filing
02 Mar 2022
Next filing
03 Jun 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 +7,877 +14% 63,521 15 May 2022 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 -6,250 -25% $0.000000 18,750 15 May 2022 Class B Common Stock 6,250 Direct F2, F3
transaction NET Restricted Stock Units Options Exercise $0 -9,375 -17% $0.000000 46,875 15 May 2022 Class B Common Stock 9,375 Direct F2, F4
transaction NET Class B Common Stock Options Exercise $0 +15,625 +12% $0.000000 146,300 15 May 2022 Class A Common Stock 15,625 Direct F1
transaction NET Class B Common Stock Tax liability $514,312 -7,748 -5.3% $66.38 138,552 15 May 2022 Class A Common Stock 7,748 Direct F1, F5
transaction NET Class B Common Stock Conversion of derivative security $0 -7,877 -5.7% $0.000000 130,675 15 May 2022 Class A Common Stock 7,877 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.