Thomas J. Seifert - Feb 13, 2023 Form 4 Insider Report for Cloudflare, Inc. (NET)

Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
Feb 13, 2023
Transactions value $
-$1,252,320
Form type
4
Date filed
2/14/2023, 06:18 PM
Previous filing
Jan 31, 2023
Next filing
Feb 17, 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 +20K +23.14% 106K Feb 13, 2023 Direct F1
transaction NET Class A Common Stock Sale -$77.1K -1.3K -1.22% $59.27 105K Feb 13, 2023 Direct F2, F3
transaction NET Class A Common Stock Sale -$134K -2.23K -2.12% $60.11 103K Feb 13, 2023 Direct F2, F4
transaction NET Class A Common Stock Sale -$86K -1.4K -1.36% $61.42 102K Feb 13, 2023 Direct F2, F5
transaction NET Class A Common Stock Sale -$112K -1.8K -1.77% $62.47 99.7K Feb 13, 2023 Direct F2, F6
transaction NET Class A Common Stock Sale -$701K -11.1K -11.08% $63.42 88.7K Feb 13, 2023 Direct F2, F7
transaction NET Class A Common Stock Sale -$142K -2.22K -2.5% $63.97 86.4K Feb 13, 2023 Direct F2, F8

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 -4.06K -100% $0.00* 0 Feb 13, 2023 Class B Common Stock 4.06K $1.95 Direct F1, F9
transaction NET Employee Stock Option (right to buy) Options Exercise $0 -15.9K -1.39% $0.00 1.13M Feb 13, 2023 Class B Common Stock 15.9K $2.04 Direct F1, F10
transaction NET Class B Common Stock Options Exercise $0 +20K +224.09% $0.00 28.9K Feb 13, 2023 Class A Common Stock 20K Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -20K -69.14% $0.00 8.93K Feb 13, 2023 Class A Common Stock 20K Direct F1
holding NET Class B Common Stock 250K Feb 13, 2023 Class A Common Stock 250K See footnote F1, F11
holding NET Class B Common Stock 76.1K Feb 13, 2023 Class A Common Stock 76.1K See footnote F1, F12
holding NET Class B Common Stock 76.1K Feb 13, 2023 Class A Common Stock 76.1K See footnote F1, F13
holding NET Class B Common Stock 76.1K Feb 13, 2023 Class A Common Stock 76.1K See footnote F1, F14
* 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 $58.69 to $59.63, 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) through (8) 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 $59.72 to $60.65, inclusive.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $60.83 to $61.79, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $61.83 to $62.77, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.84 to $63.82, inclusive.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.85 to $64.08, inclusive.
F9 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.
F10 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.
F11 The shares are held of record by Center Court Partners Ltd., for which the reporting person serves as a partner.
F12 The shares are held of record by Center Court 2020 Trust 1 UA 12/11/20, for which the reporting person serves as trustee.
F13 The shares are held of record by Center Court 2020 Trust 2 UA 12/11/20, for which the reporting person serves as trustee.
F14 The shares are held of record by Center Court 2020 Trust 3 UA 12/11/20, for which the reporting person serves as trustee.