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

Role
Director
Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
Aug 15, 2023
Transactions value $
-$93,900
Form type
4
Date filed
8/16/2023, 07:11 PM
Previous filing
Jun 6, 2023
Next filing
Jun 5, 2024

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 +7.5K +17.57% 50.2K Aug 15, 2023 Direct F1
transaction NET Class A Common Stock Sale -$93.9K -1.5K -2.99% $62.60 48.7K Aug 16, 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 -7.5K -100% $0.00* 0 Aug 15, 2023 Class B Common Stock 7.5K Direct F1, F3, F4
transaction NET Class B Common Stock Options Exercise $0 +7.5K $0.00 7.5K Aug 15, 2023 Class A Common Stock 7.5K Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -7.5K -100% $0.00* 0 Aug 15, 2023 Class A Common Stock 7.5K 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.