John Graham-Cumming - 15 Dec 2025 Form 4 Insider Report for Cloudflare, Inc. (NET)

Role
Director
Signature
/s/ Chad Skinner, by power of attorney
Issuer symbol
NET
Transactions as of
15 Dec 2025
Net transactions value
-$389,730
Form type
4
Filing time
16 Dec 2025, 17:01:13 UTC
Previous filing
03 Nov 2025
Next filing
06 Jan 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Graham-Cumming John Director C/O CLOUDFLARE, INC., 101 TOWNSEND STREET, SAN FRANCISCO /s/ Chad Skinner, by power of attorney 16 Dec 2025 0002062725

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NET Class A Common Stock Options Exercise $112,694 +2,520 +0.51% $44.72 497,711 15 Dec 2025 Direct
transaction NET Class A Common Stock Sale $108,661 -552 -0.11% $196.85 497,159 15 Dec 2025 Direct F1, F2
transaction NET Class A Common Stock Sale $32,900 -166 -0.03% $198.19 496,993 15 Dec 2025 Direct F1, F3
transaction NET Class A Common Stock Sale $113,246 -569 -0.11% $199.03 496,424 15 Dec 2025 Direct F1, F4
transaction NET Class A Common Stock Sale $108,460 -542 -0.11% $200.11 495,882 15 Dec 2025 Direct F1, F5
transaction NET Class A Common Stock Sale $99,338 -494 -0.1% $201.09 495,388 15 Dec 2025 Direct F1, F6
transaction NET Class A Common Stock Sale $32,931 -163 -0.03% $202.03 495,225 15 Dec 2025 Direct F1, F7
transaction NET Class A Common Stock Sale $6,890 -34 -0.01% $202.65 495,191 15 Dec 2025 Direct F1, F8

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 Stock Option (right to buy) Options Exercise $0 -2,520 -11% $0.000000 20,160 15 Dec 2025 Class A Common Stock 2,520 $44.72 Direct F9
* 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 The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 28, 2025.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $196.52 to $197.355, 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 (2) through (8) to this Form 4.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $197.56 to $198.515, inclusive.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $198.56 to $199.54, inclusive.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $199.56 to $200.435, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $200.56 to $201.55, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $201.565 to $202.455, inclusive.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $202.60 to $202.725, inclusive.
F9 Shares subject to the option are fully vested and immediately exercisable.