Thomas J. Seifert - 20 Feb 2026 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
Chief Financial Officer
Signature
/s/ Chad Skinner, by power of attorney
Issuer symbol
NET
Transactions as of
20 Feb 2026
Net transactions value
-$7,689,671
Form type
4
Filing time
24 Feb 2026, 19:47:44 UTC
Previous filing
18 Feb 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
SEIFERT THOMAS J Chief Financial Officer C/O CLOUDFLARE, INC., 405 COMAL STREET, AUSTIN /s/ Chad Skinner, by power of attorney 24 Feb 2026 0001473289

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 +10,000 +8.5% 127,009 20 Feb 2026 Direct F1
transaction NET Class A Common Stock Sale $1,466,891 -8,279 -6.5% $177.18 118,730 20 Feb 2026 Direct F2, F3
transaction NET Class A Common Stock Sale $839,082 -4,700 -4% $178.53 114,030 20 Feb 2026 Direct F2, F4
transaction NET Class A Common Stock Sale $430,835 -2,400 -2.1% $179.51 111,630 20 Feb 2026 Direct F2, F5
transaction NET Class A Common Stock Sale $343,291 -1,900 -1.7% $180.68 109,730 20 Feb 2026 Direct F2, F6
transaction NET Class A Common Stock Sale $272,724 -1,500 -1.4% $181.82 108,230 20 Feb 2026 Direct F2, F7
transaction NET Class A Common Stock Sale $237,285 -1,300 -1.2% $182.53 106,930 20 Feb 2026 Direct F2, F8
transaction NET Class A Common Stock Sale $183,778 -1,000 -0.94% $183.78 105,930 20 Feb 2026 Direct F2, F9
transaction NET Class A Common Stock Sale $129,564 -700 -0.66% $185.09 105,230 20 Feb 2026 Direct F2, F10
transaction NET Class A Common Stock Sale $93,048 -500 -0.48% $186.10 104,730 20 Feb 2026 Direct F2, F11
transaction NET Class A Common Stock Sale $37,477 -200 -0.19% $187.38 104,530 20 Feb 2026 Direct F2, F12
transaction NET Class A Common Stock Sale $56,632 -300 -0.29% $188.77 104,230 20 Feb 2026 Direct F2, F13
transaction NET Class A Common Stock Sale $497,381 -2,613 -2.5% $190.35 101,617 20 Feb 2026 Direct F2, F14
transaction NET Class A Common Stock Sale $1,554,444 -8,133 -8% $191.13 93,484 20 Feb 2026 Direct F2, F15
transaction NET Class A Common Stock Sale $916,891 -4,771 -5.1% $192.18 88,713 20 Feb 2026 Direct F2, F16
transaction NET Class A Common Stock Sale $534,179 -2,766 -3.1% $193.12 85,947 20 Feb 2026 Direct F2, F17
transaction NET Class A Common Stock Sale $76,648 -395 -0.46% $194.05 85,552 20 Feb 2026 Direct F2, F18
transaction NET Class A Common Stock Sale $19,519 -100 -0.12% $195.19 85,452 20 Feb 2026 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 -10,000 -12% $0.000000 70,341 20 Feb 2026 Class B Common Stock 10,000 $2.04 Direct F1, F19
transaction NET Class B Common Stock Options Exercise $0 +10,000 +112% $0.000000 18,925 20 Feb 2026 Class A Common Stock 10,000 Direct F1
transaction NET Class B Common Stock Conversion of derivative security $0 -10,000 -53% $0.000000 8,925 20 Feb 2026 Class A Common Stock 10,000 Direct F1
holding NET Class B Common Stock 150,000 20 Feb 2026 Class A Common Stock 150,000 See footnote F1, F20
holding NET Class B Common Stock 46,100 20 Feb 2026 Class A Common Stock 46,100 See footnote F1, F21
holding NET Class B Common Stock 46,100 20 Feb 2026 Class A Common Stock 46,100 See footnote F1, F22
holding NET Class B Common Stock 46,100 20 Feb 2026 Class A Common Stock 46,100 See footnote F1, F23
* 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 26, 2024.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $176.93 to $177.88, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (3) through (18) to this Form 4.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $178.01 to $178.99, inclusive.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $179.07 to $179.98, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $180.17 to $181.12, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $181.22 to $182.19, inclusive.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $182.23 to $182.88, inclusive.
F9 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $183.27 to $184.05, inclusive.
F10 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $184.67 to $185.48, inclusive.
F11 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $185.82 to $186.64, inclusive.
F12 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $187.33 to $187.44, inclusive.
F13 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $188.49 to $188.99, inclusive.
F14 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $189.67 to $190.66, inclusive.
F15 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $190.67 to $191.66, inclusive.
F16 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $191.70 to $192.69, inclusive.
F17 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $192.70 to $193.69, inclusive.
F18 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $193.71 to $194.33, inclusive.
F19 Shares subject to the option are fully vested and immediately exercisable.
F20 The shares are held of record by Center Court Partners Ltd., for which the reporting person serves as a partner.
F21 The shares are held of record by Center Court 2020 Trust 1 UA 12/11/20, for which the reporting person serves as trustee.
F22 The shares are held of record by Center Court 2020 Trust 2 UA 12/11/20, for which the reporting person serves as trustee.
F23 The shares are held of record by Center Court 2020 Trust 3 UA 12/11/20, for which the reporting person serves as trustee.