Cloudflare CFO Restructures Holdings Amidst Hundreds of Millions in RSUs and Options

Cloudflare, Inc. (NYSE: NET), the U.S. cloud infrastructure provider, recently disclosed a series of insider equity transactions involving its Chief Accounting Officer and Chief Financial Officer, including stock-option exercises, new restricted stock unit (RSU) grants, and share sales to cover tax obligations. On March 5, Chief Accounting Officer Riley Jannell exercised performance-based stock options to acquire Class A common shares and immediately sold an equivalent number of shares under a pre-arranged Rule 10b5-1 trading plan, generating approximately $4.4 million in cash (roughly ₩6 billion). After the sale, Jannell’s directly held equity stake was valued at about $11.1 million (around ₩15 billion).

Meanwhile, CFO Thomas J. Seifert received new RSU awards worth approximately $30.1 million (around ₩40 billion) on February 6, increasing his total equity holdings to about $48.2 million (roughly ₩60 billion). To cover the tax liability arising from RSU vesting on March 15, he surrendered a portion of his vested shares through withholding, and on March 17 he exercised stock options and sold approximately $2.2 million (about ₩3 billion) of the acquired shares in tranches under a pre-planned trading arrangement, effectively rebalancing his Class A and Class B shareholdings.

Separately, on February 20 Cloudflare experienced a six-hour network outage that affected users worldwide. The company has since released a root-cause analysis and implemented measures to prevent recurrence. Through its Cloudforce One security-threat intelligence unit, Cloudflare is also preparing to publish its first annual cyber-threat report in 2026, underscoring its commitment to infrastructure resilience and security enhancement. In addition, the company announced in its February filings that Chief Legal Officer Doug Kramer will step down effective March 31, signaling an upcoming change in governance.

Founded in 2010 and headquartered in San Francisco, Cloudflare operates a global, distributed data-center network that delivers content delivery services, web and application security, zero-trust networking, serverless computing, and other “connectivity cloud” solutions. The company went public on the New York Stock Exchange in 2019 and has since expanded its presence in the rapidly growing web-infrastructure and security markets, playing an increasingly influential role in global Internet traffic and cybersecurity.