Douglas James Kramer - Jan 2, 2024 Form 4 Insider Report for Cloudflare, Inc. (NET)

Signature
/s/ Lindsey Cochran, by power of attorney
Stock symbol
NET
Transactions as of
Jan 2, 2024
Transactions value $
-$244,290
Form type
4
Date filed
1/3/2024, 05:26 PM
Previous filing
Dec 4, 2023
Next filing
Jan 26, 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 +3K +1.94% 158K Jan 2, 2024 Direct F1
transaction NET Class A Common Stock Sale -$244K -3K -1.9% $81.43 155K Jan 2, 2024 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 Employee Stock Option (right to buy) Options Exercise $0 -3K -2.76% $0.00 106K Jan 2, 2024 Class B Common Stock 3K $2.04 Direct F1, F3
transaction NET Class B Common Stock Options Exercise $0 +3K +3.31% $0.00 93.7K Jan 2, 2024 Class A Common Stock 3K Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -3K -3.2% $0.00 90.7K Jan 2, 2024 Class A Common Stock 3K 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 November 29, 2022.
F3 Shares subject to the option are fully vested and immediately exercisable.