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Filing Details

Accession Number:: 0000899243-23-013457
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2023-05-19 20:40:41
Reporting Period:: 2023-05-17

Accepted Time:: 2023-05-19 20:40:41
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1477333	Cloudflare Inc.	NET	Services-Prepackaged Software (7372)	270805829

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1786951	Michelle Zatlyn	C/O Cloudflare, Inc. 101 Townsend Street San Francisco CA 94107	President And Coo	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Acquisiton	2023-05-17	10,256	$0.00	19,945	No	4	C	Indirect	See footnote
Class A Common Stock	Disposition	2023-05-17	10,256	$51.57	9,689	No	4	S	Indirect	See footnote
Class A Common Stock	Acquisiton	2023-05-17	2,564	$0.00	2,564	No	4	C	Indirect	See footnote
Class A Common Stock	Disposition	2023-05-17	2,564	$51.57	0	No	4	S	Indirect	See footnote
Class A Common Stock	Acquisiton	2023-05-18	10,256	$0.00	19,945	No	4	C	Indirect	See footnote
Class A Common Stock	Disposition	2023-05-18	10,256	$54.56	9,689	No	4	S	Indirect	See footnote
Class A Common Stock	Acquisiton	2023-05-18	2,564	$0.00	2,564	No	4	C	Indirect	See footnote
Class A Common Stock	Disposition	2023-05-18	2,564	$54.56	0	No	4	S	Indirect	See footnote
Class A Common Stock	Acquisiton	2023-05-19	10,256	$0.00	19,945	No	4	C	Indirect	See footnote
Class A Common Stock	Disposition	2023-05-19	6,231	$58.44	13,714	No	4	S	Indirect	See footnote
Class A Common Stock	Disposition	2023-05-19	4,025	$59.42	9,689	No	4	S	Indirect	See footnote
Class A Common Stock	Acquisiton	2023-05-19	2,564	$0.00	2,564	No	4	C	Indirect	See footnote
Class A Common Stock	Disposition	2023-05-19	1,553	$58.44	1,011	No	4	S	Indirect	See footnote
Class A Common Stock	Disposition	2023-05-19	1,011	$59.42	0	No	4	S	Indirect	See footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	C	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	C	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	C	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	C	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	C	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class B Common Stock	Employee Stock Option (right to buy)	Disposition	2023-05-17	10,256	$0.00	10,256	$2.04
Class A Common Stock	Class B Common Stock	Acquisiton	2023-05-17	10,256	$0.00	10,256	$0.00
Class A Common Stock	Class B Common Stock	Disposition	2023-05-17	10,256	$0.00	10,256	$0.00
Class A Common Stock	Class B Common Stock	Disposition	2023-05-17	2,564	$0.00	2,564	$0.00
Class B Common Stock	Employee Stock Option (right to buy)	Disposition	2023-05-18	10,256	$0.00	10,256	$2.04
Class A Common Stock	Class B Common Stock	Acquisiton	2023-05-18	10,256	$0.00	10,256	$0.00
Class A Common Stock	Class B Common Stock	Disposition	2023-05-18	10,256	$0.00	10,256	$0.00
Class A Common Stock	Class B Common Stock	Disposition	2023-05-18	2,564	$0.00	2,564	$0.00
Class B Common Stock	Employee Stock Option (right to buy)	Disposition	2023-05-19	10,256	$0.00	10,256	$2.04
Class A Common Stock	Class B Common Stock	Acquisiton	2023-05-19	10,256	$0.00	10,256	$0.00
Class A Common Stock	Class B Common Stock	Disposition	2023-05-19	10,256	$0.00	10,256	$0.00
Class A Common Stock	Class B Common Stock	Disposition	2023-05-19	2,564	$0.00	2,564	$0.00

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
3,835,876	2027-08-07	No	4	M	Direct
10,256		No	4	M	Direct
0		No	4	C	Direct
1,535,256		No	4	C	Indirect
3,825,620	2027-08-07	No	4	M	Direct
10,256		No	4	M	Direct
0		No	4	C	Direct
1,532,692		No	4	C	Indirect
3,815,364	2027-08-07	No	4	M	Direct
10,256		No	4	M	Direct
0		No	4	C	Direct
1,530,128		No	4	C	Indirect

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Amount	Remaning Holdings	Nature of Ownership
Class A Common Stock	Class B Common Stock	$0.00	3,344,810	3,344,810	Indirect
Class A Common Stock	Class B Common Stock	$0.00	294,275	294,275	Indirect
Class A Common Stock	Class B Common Stock	$0.00	971,403	971,403	Indirect
Class A Common Stock	Class B Common Stock	$0.00	1,400,000	1,400,000	Indirect

Amount	Remaning Holdings	Nature of Ownership
3,344,810	3,344,810	Indirect
294,275	294,275	Indirect
971,403	971,403	Indirect
1,400,000	1,400,000	Indirect

Footnotes

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.
The shares are held of record by The Sutherland/Zatlyn Revocable Trust dated November 17, 2016, for which the reporting person serves as co-trustee (the "Revocable Trust").
The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 30, 2022
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.30 to $51.81, inclusive. The reporting person undertakes to provide to 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 (4) and (6) through (8) to this Form 4.
The shares are held of record by The SZ 2021 Irrevocable Trust dated November 6, 2021, for which the reporting person serves as the appointer.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $54.28 to $54.89, inclusive.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $58.10 to $59.095, inclusive.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $59.10 to $59.72, inclusive.
The option is subject to an early exercise provision and is immediately exercisable. Shares subject to the option vest in 48 equal monthly installments following September 13, 2019.
Upon the conversion of the shares of Class B Common Stock to Class A Common Stock, the shares were re-registered and are now held directly by the Revocable Trust.
The shares are held of record by SZ 2020 Irrevocable Trust dated November 25, 2020, for which the reporting person serves as an investment advisor.
The shares are held of record by The Sutherland/Zatlyn 2021 Annuity Trust dated May 22, 2021, for which the reporting person serves as co-trustee
The shares are held of record by The Sutherland/Zatlyn 2022 Annuity Trust dated May 26, 2022, for which the reporting person serves as co-trustee.