Paul D. Underwood - Aug 5, 2022 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
Chief Accounting Officer
Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
Aug 5, 2022
Transactions value $
-$420,000
Form type
4
Date filed
8/8/2022, 04:07 PM
Previous filing
Apr 19, 2022
Next filing
Feb 16, 2023

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 +6K +19.98% 36K Aug 5, 2022 Direct F1, F2
transaction NET Class A Common Stock Sale -$420K -6K -16.65% $70.00 30K Aug 5, 2022 Direct F3

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 -6K -8.63% $0.00 63.5K Aug 5, 2022 Class B Common Stock 6K $9.97 Direct F4
transaction NET Class B Common Stock Options Exercise $0 +6K $0.00 6K Aug 5, 2022 Class A Common Stock 6K Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -6K -100% $0.00* 0 Aug 5, 2022 Class A Common Stock 6K Direct F1
holding NET Employee Stock Option (right to buy) 110K Aug 5, 2022 Class B Common Stock 110K $9.97 Direct F5
* 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 Includes 135 shares of Class A Common Stock acquired under the Issuer's employee stock purchase plan on May 13, 2022.
F3 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.
F4 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.
F5 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.