NET affiliate files Form 144 to sell Class A shares

NET affiliate filed a Form 144 notifying intended sales of Class A Common stock by an issuer-affiliated holder.

Rhea-AI Filing Summary

NET affiliate filed a Form 144 notifying intended sales of Class A Common stock by an issuer-affiliated holder. The filing lists 153,846 shares tied to stock options (acquired 08/08/2017) and 9,439 shares tied to restricted stock units (acquired 04/19/2023). The excerpt also reports multiple recent dispositions by The Sutherland / Zatlyn Revocable Trust dated November 17, 2016, with repeated trades of 8,547 shares across February–April 2026 and corresponding transaction amounts shown for each trade.

Insights

Securities Attorney

Form 144 signals affiliate resale activity, not company financing.

Form 144 is a statutory notice required for certain affiliate sales of restricted or control securities. The filing identifies securities acquired as compensation and shows planned sales tied to those instruments; timing and methods are constrained by Rule 144 conditions.

Cash‑flow treatment and aggregate offering proceeds are not stated here; subsequent filings or broker confirmations would show completed sale details.

Equity Markets Analyst

Multiple small block transactions by a trust are documented; aggregate impact appears limited.

The excerpt shows repeated trades of 8,547 shares by the named trust on discrete dates in Feb–Apr 2026 with per‑trade dollar figures listed. These appear as routine resale transactions by an affiliate rather than an issuer offering.

Investor impact depends on total outstanding float and any volume concentration; the excerpt does not provide outstanding share counts.

Key Figures

Options-tied shares listed: 153,846 shares RSU-tied shares listed: 9,439 shares Per-trade block size shown: 8,547 shares +2 more

5 metrics

Options-tied shares listed 153,846 shares acquired as compensation, 08/08/2017

RSU-tied shares listed 9,439 shares acquired as compensation, 04/19/2023

Per-trade block size shown 8,547 shares repeated trades by Sutherland/Zatlyn Trust, Feb–Apr 2026

Example trade amounts $1,601,447.12 trade on 02/19/2026 (one listed example)

Filing form Form 144 notification of proposed sale by affiliate

Key Terms

Form 144, Restricted Stock Units, Stock Options, Revocable Trust

4 terms

Form 144 regulatory

"144: Securities To Be Sold"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

Restricted Stock Units financial

"Acquired as compensation -- Restricted Stock Units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Stock Options financial

"Acquired as compensation -- Stock Options"

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

Revocable Trust legal

"The Sutherland / Zatlyn Revocable Trust dated November 17, 2016"

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does NET's Form 144 filing mean?

It notifies the SEC of planned resale of Class A Common by an affiliate; it is a statutory notice required before certain sales. The excerpt lists specific lots tied to options and RSUs and shows multiple trust transactions in Feb–Apr 2026.

How many shares tied to compensation are listed for sale in the filing?

The filing lists 153,846 shares associated with stock options (acquired 08/08/2017) and 9,439 shares associated with RSUs (acquired 04/19/2023). These figures appear under "Securities To Be Sold."

Who executed recent sales shown in the excerpt?

The excerpt shows multiple sales executed by The Sutherland / Zatlyn Revocable Trust dated November 17, 2016, each reporting 8,547 shares on several dates between 02/19/2026 and 04/22/2026, with dollar amounts per trade.

Does the filing state how the issuer will use proceeds?

No. The excerpt documents resale notices and historic trade amounts but does not specify any use of proceeds or indicate proceeds are payable to the issuer; it records affiliate sales and per‑trade dollar figures.

Are the trades in the excerpt completed or proposed?

The excerpt includes both a Form 144 resale notice and a listing of past sales over the prior three months by the named trust. The prior trades are reported as executed on specific dates; Form 144 covers intended future resales.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 05/22/2026 - 05:32 PM EDT Learn about SEC filing dates

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	0001786951
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Cloudflare, Inc.
SEC File Number	001-39039
Address of Issuer	101 Townsend Street San Francisco CALIFORNIA 94107
Phone	1-888-993-5273
Name of Person for Whose Account the Securities are To Be Sold	Michelle Zatlyn
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	Officer

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
Class A Common	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	163285	35297318.45	317576096	05/22/2026	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 *
Class A Common	08/08/2017	Acquired as compensation -- Stock Options	Issuer			153846	08/08/2017	Acquired as compensation -- Stock Options
Class A Common	04/19/2023	Acquired as compensation -- Restricted Stock Units	Issuer			9439	04/19/2023	Compensation

* 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
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	02/19/2026	8547	1601447.12
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	02/19/2026	8547	1577277.91
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	02/19/2026	8547	1590735.16
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	02/20/2026	8547	1655052.19
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	02/20/2026	8547	1638151.35
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	02/20/2026	8547	1646716.3
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	02/23/2026	8547	1470318.19
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	02/23/2026	8547	1482678
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	02/23/2026	8547	1476772.03
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	03/03/2026	8547	1492778.85
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	03/03/2026	8547	1496207.05
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	03/03/2026	8547	1488164.32
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	03/04/2026	8547	1535414.7
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	03/04/2026	8547	1541066.83
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	03/04/2026	8547	1529290.78
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	03/05/2026	8547	1622541.97
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	03/05/2026	8547	1604830.87
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	03/05/2026	8547	1631674.44
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	04/20/2026	8547	1708521.37
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	04/20/2026	8547	1685929.08
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	04/20/2026	8547	1717599.99
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	04/21/2026	8547	1756130.72
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	04/21/2026	8547	1766693.96
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	04/21/2026	8547	1761736.7
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	04/22/2026	8547	1799201.62
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	04/22/2026	8547	1776888.82
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	04/22/2026	8547	1786763.17
The Sutherland / Zatlyn Revocable Trust dated November 17, 2016 101 Townsend Street San Francisco CA 94107	Class A Common	02/19/2026	9439	1804178.96

144: Remarks and Signature

Remarks	The sales of shares set forth herein are made in connection with a selling plan dated February 14, 2025 that is intended to comply with Rule 10b5-1(c). All shares to be sold by The Sutherland / Zatlyn Revocable Trust.
Date of Notice	05/22/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	02/14/2025
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	Goldman Sachs & Co. LLC on behalf of Michelle Zatlyn
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)