Thomas J. Seifert - Nov 11, 2022 Form 4/A - Amendment 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 11, 2022
Transactions value $
-$2,507,495
Form type
4/A - Amendment
Date filed
11/15/2022, 05:23 PM
Date Of Original Report
Nov 14, 2022
Previous filing
Nov 8, 2022
Next filing
Nov 22, 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 +50K +57.85% 136K Nov 11, 2022 Direct F1
transaction NET Class A Common Stock Sale -$2.51M -50K -36.65% $50.15 86.4K Nov 11, 2022 Direct F2, 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 -50K -28.73% $0.00 124K Nov 11, 2022 Class A Common Stock 50K $1.95 Direct F4
transaction NET Class B Common Stock Conversion of derivative security $0 +50K +560.22% $0.00 58.9K Nov 11, 2022 Class A Common Stock 50K Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -50K -84.85% $0.00 8.93K Nov 11, 2022 Class A Common Stock 50K 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 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 $50.00 to $50.30, 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.
F4 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.

Remarks:

This amendment on Form 4 is filed to correct the transaction date in each row of Table I and Table II and the amount of securities beneficially owned following the reported transaction in Rows 1 and 2 of Table I.