Katrin Suder - 15 Aug 2023 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
Director
Signature
/s/ Lindsey Cochran, by power of attorney
Issuer symbol
NET
Transactions as of
15 Aug 2023
Net transactions value
-$93,900
Form type
4
Filing time
16 Aug 2023, 19:11:52 UTC
Previous filing
06 Jun 2023
Next filing
05 Jun 2024
SEC
View on sec.gov

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 +7,500 +18% 50,197 15 Aug 2023 Direct F1
transaction NET Class A Common Stock Sale $93,900 -1,500 -3% $62.60 48,697 16 Aug 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 -7,500 -100% $0.000000* 0 15 Aug 2023 Class B Common Stock 7,500 Direct F1, F3, F4
transaction NET Class B Common Stock Options Exercise $0 +7,500 $0.000000 7,500 15 Aug 2023 Class A Common Stock 7,500 Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -7,500 -100% $0.000000* 0 15 Aug 2023 Class A Common Stock 7,500 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 February 28, 2023.
F3 Each restricted stock unit, or 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.