Douglas James Kramer - Dec 9, 2022 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
General Counsel
Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
Dec 9, 2022
Transactions value $
-$225,000
Form type
4
Date filed
12/12/2022, 03:49 PM
Previous filing
Dec 2, 2022
Next filing
Jan 30, 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 +4.5K +8.09% 60.1K Dec 9, 2022 Direct F1
transaction NET Class A Common Stock Sale -$225K -4.5K -7.48% $50.00 55.6K Dec 9, 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 -4.5K -2.87% $0.00 153K Dec 9, 2022 Class B Common Stock 4.5K $2.04 Direct F1, F3
transaction NET Class B Common Stock Options Exercise $0 +4.5K +3.44% $0.00 135K Dec 9, 2022 Class A Common Stock 4.5K Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -4.5K -3.33% $0.00 131K Dec 9, 2022 Class A Common Stock 4.5K 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 29, 2021, as modified on August 31, 2022.
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 following September 13, 2019.