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Total Value
$14.5M
Net $14.4M sold
Filing Date
Jul 17, 2025
9 transactions
Sales
$14.4M
9 transactions

Trade Summary

On Jul 15, 2025 through Jul 17, 2025, Zatlyn Michelle, President and Board Co-Chair, Director, sold $14.5M of Cloudflare, Inc. (NET) across 9 transactions. The filing covers Class A Common Stock and reflects net selling of $14.4M. Reported prices ranged from $2.04 to $191.07. Insider transactions are sourced from SEC Form 4 disclosures and should be reviewed alongside company fundamentals and the insider's broader trading history.

Company Information

Company Name
Cloudflare, Inc.
Ticker Symbol
NET
CIK
0001477333

Insider Information

Role
President and Board Co-Chair, Director
Location
SAN FRANCISCO, CA

Filing Details

Filing Date
Jul 17, 2025
Transaction Date
Jul 15, 2025
Accession Number
0001104659-25-068765
Form Type
4
Net Trading Amount
-$14.4M

Non-Derivative Transactions

DateSecuritySharesPriceTypeValue
Jul 15, 2025Class A Common Stock25,641—C—
Jul 15, 2025Class A Common Stock4,667$181.28Sale$846.0K
Jul 15, 2025Class A Common Stock4,585$182.23Sale$835.5K
Jul 15, 2025Class A Common Stock11,460$183.15Sale$2.1M
Jul 15, 2025Class A Common Stock4,929$183.95Sale$906.7K
Jul 16, 2025Class A Common Stock25,641—C—
Jul 16, 2025Class A Common Stock12,011$186.58Sale$2.2M
Jul 16, 2025Class A Common Stock8,208$187.70Sale$1.5M
Jul 16, 2025Class A Common Stock5,422$188.35Sale$1.0M
Jul 17, 2025Class A Common Stock25,641—C—
Jul 17, 2025Class A Common Stock11,839$190.24Sale$2.3M
Jul 17, 2025Class A Common Stock13,802$191.07Sale$2.6M

Derivative Transactions

DateSecuritySharesExercise PriceTypeValue
Jul 15, 2025NET derivative25,641$2.04Exercise$52.3K
Jul 15, 2025NET derivative25,641—Exercise—
Jul 15, 2025NET derivative25,641—C—
Jul 16, 2025NET derivative25,641$2.04Exercise$52.3K
Jul 16, 2025NET derivative25,641—Exercise—
Jul 16, 2025NET derivative25,641—C—
Jul 17, 2025NET derivative25,641$2.04Exercise$52.3K
Jul 17, 2025NET derivative25,641—Exercise—
Jul 17, 2025NET derivative25,641—C—

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Footnotes

  1. (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.
  2. (F2)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").
  3. (F3)The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 14, 2025.
  4. (F4)The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $180.70 to $181.66, 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) through (12) to this Form 4.
  5. (F5)The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $181.70 to $182.63, inclusive.
  6. (F6)The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $182.74 to $183.665, inclusive.
  7. (F7)The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $183.75 to $184.31, inclusive.
  8. (F8)The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $186.08 to $187.07, inclusive.
  9. (F9)The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $187.09 to $188.06, inclusive.
  10. (F10)The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $188.09 to $188.775, inclusive.
  11. (F11)The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $189.75 to $190.74, inclusive.
  12. (F12)The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $190.76 to $191.40, inclusive.
  13. (F13)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 "the SZ 2021 Irrevocable Trust").
  14. (F14)Shares subject to the option are fully vested and immediately exercisable.
  15. (F15)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.
  16. (F16)The shares are held of record by The SZ 2020 Irrevocable Trust dated November 25, 2020, for which the reporting person serves as an investment advisor.
  17. (F17)The shares are held of record by The Sutherland/Zatlyn 2023 Annuity Trust II dated August 29, 2023, for which the reporting person serves as co-trustee.
  18. (F18)The shares are held of record by The Sutherland/Zatlyn 2024 Annuity Trust dated May 29, 2024, for which the reporting person serves as co-trustee.
  19. (F19)The shares are held of record by The Sutherland/Zatlyn 2024 Annuity Trust II dated August 19, 2024, for which the reporting person serves as co-trustee.
  20. (F20)The shares are held of record by The Sutherland/Zatlyn 2024 Annuity Trust III dated November 12, 2024, for which the reporting person serves as co-trustee.
  21. (F21)The shares are held of record by The Sutherland/Zatlyn 2025 Annuity Trust dated May 23, 2025, for which the reporting person serves as trustee.

SEC Filing

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View the complete filing document on SEC Daily.