Thomas J. Seifert - Nov 7, 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
Nov 7, 2022
Transactions value $
-$815,571
Form type
4
Date filed
11/8/2022, 04:31 PM
Previous filing
May 25, 2022
Next filing
Nov 15, 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 +20K +23.14% 106K Nov 7, 2022 Direct F1
transaction NET Class A Common Stock Sale -$733K -18K -16.93% $40.70 88.4K Nov 7, 2022 Direct F2, F3
transaction NET Class A Common Stock Sale -$82.3K -1.98K -2.24% $41.50 86.4K Nov 7, 2022 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 -20K -10.31% $0.00 174K Nov 7, 2022 Class B Common Stock 20K $1.95 Direct F1, F5
transaction NET Class B Common Stock Options Exercise $0 +20K +224.09% $0.00 28.9K Nov 7, 2022 Class A Class Common Stock 20K Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -20K -69.14% $0.00 8.93K Nov 7, 2022 Class A Common Stock 20K Direct F1
holding NET Class B Common Stock 250K Nov 7, 2022 Class A Common Stock 250K See footnote F1, F6
holding NET Class B Common Stock 76.1K Nov 7, 2022 Class A Common Stock 76.1K See footnote F1, F7
holding NET Class B Common Stock 76.1K Nov 7, 2022 Class A Common Stock 76.1K See footnote F1, F8
holding NET Class B Common Stock 76.1K Nov 7, 2022 Class A Common Stock 76.1K See footnote F1, F9
* 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, as modified on August 25, 2022.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.36 to $41.30, 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 $41.38 to $41.705, 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 Partners Ltd., for which the reporting person serves as a partner.
F7 The shares are held of record by Center Court 2020 Trust 1 UA 12/11/20, for which the reporting person serves as trustee.
F8 The shares are held of record by Center Court 2020 Trust 2 UA 12/11/20, for which the reporting person serves as trustee.
F9 The shares are held of record by Center Court 2020 Trust 3 UA 12/11/20, for which the reporting person serves as trustee.