Cloudflare, Inc. 4

Michelle Zatlyn, President and Board Co‑Chair of Cloudflare, Inc., exercised options into ~99k shares and sold ~93k Class A shares of NET under a Rule 10b5‑1 plan over July 13–15, 2026 for roughly $25–27 million in total proceeds.

Between July 13 and July 15, 2026, Cloudflare, Inc. President and Board Co‑Chair Michelle Zatlyn exercised low‑priced employee stock options for 99,064 shares of Class B Common Stock at $2.04 per share, converted those Class B shares into an equal number of Class A shares held by the Sutherland/Zatlyn Revocable Trust, and then executed a series of pre‑planned Rule 10b5‑1 sales totaling 92,709 Class A shares at weighted average prices mostly between about $264 and $290 per share, generating proceeds of roughly $25–27 million while retaining a very large indirect ownership position across multiple trusts. These transactions are largely a combination of routine option exercises and sizable liquidity sales under a trading plan rather than open‑market discretionary purchases, and the reported remaining indirect holdings across various trusts collectively represent multi‑million‑share continuing exposure to Cloudflare stock.

Filing Facts

CIK

1477333

Ticker

NET

Form

4

Source Type

sec

Accession

0001786951-26-000012

Alert Tier

7