[144] Cloudflare, Inc. Class A common stock, par value $0.001 per share SEC Filing

Rhea-AI Filing Summary

Form 4 highlights: On 06/30/2025 Genworth Holdings, Inc., which remains the controlling stockholder of Enact Holdings, Inc. (ticker ACT), sold 691,152 Enact common shares to the issuer under an April 30, 2025 Share Repurchase Agreement. The transaction was coded “S” (sale) and priced at $35.4867 per share, a volume-weighted figure set by the agreement. Following the sale, Genworth still owns 120,243,555 shares, representing approximately 81 % of the outstanding stock, and reports the position as direct ownership.

The filing signals incremental execution of the parent-level liquidity strategy while modestly reducing Enact’s public float through an issuer buyback. No derivative securities were involved, and no change in board or executive relationships was disclosed.

Positive

• Issuer-level share repurchase removes 691,152 shares from the public float without open-market pressure.
• Rule 10b5-1 structured sale reduces insider-trading risk perception and adds transparency to Genworth’s divestiture plan.

Negative

• Continued parent-level selling indicates Genworth may keep monetizing its stake, potentially leading to future share overhang.
• Control concentration unchanged; minority shareholders still have limited influence with Genworth retaining ~81 % ownership.

Insights

Equity Analyst

TL;DR: Parent sold 0.6 % of stake back to Enact; float shrinks slightly, control unchanged, neutral-to-mildly positive for remaining shareholders.

The 691 k-share block represents roughly 0.4 % of Enact’s 173 m share base (implied from 81 % ownership figure), so the financial impact on EPS and book value is immaterial. However, buying directly from Genworth avoids open-market pressure and signals ongoing commitment to capital return after the April 2025 repurchase agreement. Genworth’s continued 81 % ownership means governance dynamics and dual-class risk are unchanged. From a liquidity standpoint, the parent’s gradual selldown may foreshadow future secondary offerings, but the small size and fixed pricing limit market read-through today.

Corporate Governance Specialist

TL;DR: Minor insider sale via structured agreement; control remains concentrated, governance profile unchanged.

The transaction was executed pursuant to a Rule 10b5-1-compliant repurchase contract, reducing concerns of opportunistic trading. Yet, it reinforces Genworth’s ability to monetize its stake outside public markets, limiting minority shareholders’ influence. Because the ownership percentage did not move materially, board composition and related-party considerations stay the same. I view the event as low impact but a useful data point on the parent’s divestiture timeline.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	9000	1764814.50	346610381	07/01/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/15/2023	Restricted Stock	Issuer			1989	05/15/2023	Not Applicable
Common	08/15/2023	Restricted Stock	Issuer			7011	08/15/2023	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
DOUGLAS KRAMER 101 TOWNSEND ST. SAN FRANCISCO CA 94107	Common	06/02/2025	3000	498013.80
DOUGLAS KRAMER 101 TOWNSEND ST. SAN FRANCISCO CA 94107	Common	05/01/2025	2989	371119.62
DOUGLAS KRAMER 101 TOWNSEND ST. SAN FRANCISCO CA 94107	Common	05/01/2025	11	1365.78

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Enact (ACT) shares did Genworth sell on 06/30/2025?

691,152 common shares were sold to the issuer.

What price did the shares trade at under the repurchase agreement?

The weighted average price was $35.4867 per share, calculated per the agreement terms.

How many Enact shares does Genworth hold after the transaction?

Genworth now owns 120,243,555 shares, about 81 % of Enact’s outstanding stock.

Was the transaction open-market or a private agreement?

It was executed under a Share Repurchase Agreement dated 04/30/2025, not in the open market.

Did the filing involve any derivative securities?

No, Table II shows zero derivative activity in this Form 4.

Does this sale change Enact’s governance structure?

No, Genworth remains the controlling shareholder, so governance dynamics are unchanged.