Douglas James Kramer - 15 Nov 2023 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role: General Counsel
Signature: /s/ Lindsey Cochran, by power of attorney
Issuer symbol: NET
Transactions as of: 15 Nov 2023
Net transactions value: -$377,346
Form type: 4
Filing time: 17 Nov 2023, 17:16:27 UTC
Previous filing: 02 Nov 2023
Next filing: 30 Nov 2023
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	Tax liability	$377,346	-5,329	-3.3%	$70.81	154,629	15 Nov 2023	Direct	F1, F2
transaction	NET	Class A Common Stock	Conversion of derivative security		+10,000	+6.5%		164,629	16 Nov 2023	Direct	F3

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	Class B Common Stock	Conversion of derivative security	$0	-10,000	-9.9%	$0.000000	90,675	16 Nov 2023	Class A Common Stock	10,000		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares were withheld to satisfy the reporting person's tax liability in connection with the vesting of restricted stock units, or RSUs.
F2	Includes 488 shares of Class A Common Stock acquired under the Issuer's employee stock purchase plan on November 14, 2023.
F3	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.