Douglas James Kramer - May 15, 2023 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
May 15, 2023
Transactions value $
-$324,364
Form type
4
Date filed
5/17/2023, 05:08 PM
Previous filing
May 15, 2023
Next filing
Jun 2, 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 +4.11K +2.61% 162K May 15, 2023 Direct F1
transaction NET Class A Common Stock Tax liability -$54.8K -1.07K -0.66% $51.21 160K May 15, 2023 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 Restricted Stock Units Options Exercise $0 -9.38K -50% $0.00 9.38K May 15, 2023 Class B Common Stock 9.38K Direct F1, F3, F4
transaction NET Class B Common Stock Options Exercise $0 +9.38K +7.17% $0.00 140K May 15, 2023 Class A Common Stock 9.38K Direct F1
transaction NET Class B Common Stock Tax liability -$270K -5.26K -3.76% $51.21 135K May 15, 2023 Class A Common Stock 5.26K Direct F1, F2
transaction NET Class B Common Stock Conversion of derivative security $0 -4.11K -3.05% $0.00 131K May 15, 2023 Class A Common Stock 4.11K 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 shares were withheld to satisfy the reporting person's tax liability in connection with the vesting of restricted stock units, or RSUs.
F3 Each RSU represents a contingent right to receive one share of Issuer Class B Common Stock.
F4 The RSUs vest in 16 equal quarterly installments following August 15, 2019.