Cloudflare CFO sells 10,000 shares in plan trade
Cloudflare’s CFO exercised options for 10,000 shares and sold 10,000 Class A shares under a pre-set Rule 10b5-1 plan while retaining significant indirect holdings.
Rhea-AI Filing Summary
Cloudflare, Inc. (NET) reported that its Chief Financial Officer, Thomas J. Seifert, exercised employee stock options covering 10,000 shares on September 17, 2026 at an exercise price of $2.04 per share, resulting in the acquisition and conversion of shares into Class A Common Stock.
On the same date, he sold 10,000 shares of Class A Common Stock in multiple transactions under a Rule 10b5-1 trading plan adopted on November 20, 2025, at prices including weighted-average sales within specified ranges. He continues to have indirect interests through entities holding Class B shares convertible into Class A on a one-to-one basis with no expiration date and through a grantor retained annuity trust holding Class A shares.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
21 txns
Insider
SEIFERT THOMAS J
Role
Chief Financial Officer
Sold
10,000 shs ($3.32M)
Approx. gross sale proceeds
$3.32M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) F12, F1 | 10,000 | $0.00 | $0.00 |
| Exercise | Class B Common Stock F1 | 10,000 | $0.00 | $0.00 |
| Conversion | Class B Common Stock F1 | 10,000 | $0.00 | $0.00 |
| Conversion | Class A Common Stock F1 | 10,000 | -- | -- |
| Sale | Class A Common Stock F2 | 100 | $318.90 | $32K |
| Sale | Class A Common Stock F2 | 100 | $320.89 | $32K |
| Sale | Class A Common Stock F2 | 100 | $326.56 | $33K |
| Sale | Class A Common Stock F2, F3 | 300 | $328.04 | $98K |
| Sale | Class A Common Stock F2, F4 | 700 | $329.3731 | $231K |
| Sale | Class A Common Stock F2, F5 | 700 | $330.2278 | $231K |
| Sale | Class A Common Stock F2, F6 | 1,196 | $331.5898 | $397K |
| Sale | Class A Common Stock F2, F7 | 1,604 | $332.5002 | $533K |
| Sale | Class A Common Stock F2, F8 | 2,632 | $333.6171 | $878K |
| Sale | Class A Common Stock F2, F9 | 1,868 | $334.5905 | $625K |
| Sale | Class A Common Stock F2, F10 | 600 | $335.3197 | $201K |
| Sale | Class A Common Stock F2 | 100 | $336.51 | $34K |
| holding | Class B Common Stock F1, F13 | -- | -- | -- |
| holding | Class B Common Stock F1, F14 | -- | -- | -- |
| holding | Class B Common Stock F1, F15 | -- | -- | -- |
| holding | Class B Common Stock F1, F16 | -- | -- | -- |
| holding | Class A Common Stock F11 | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 0 contracts (Direct);
Class B Common Stock — 8,925 contracts (Direct);
Class A Common Stock — 107,902 shares (Direct);
Class B Common Stock — 288,300 contracts (Indirect, See footnote);
Class A Common Stock — 92,337 shares (Indirect, See footnote)
Footnotes (16)
- 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.
- F2. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 20, 2025.
- F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $327.80 to $328.16, inclusive. The reporting person undertakes to provide 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 (3) through (10) to this Form 4.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $328.81 to $329.69, inclusive.
- F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $329.85 to $330.73, inclusive.
- F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $331.09 to $332.07, inclusive.
- F7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $332.09 to $333.06, inclusive.
- F8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $333.11 to $334.10, inclusive.
- F9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $334.14 to $335.12, inclusive.
- F10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $335.16 to $335.53, inclusive.
- F11. The shares are held of record by the 2026 Seifert Grantor Retained Annuity Trust dated May 27, 2026, for which the reporting person serves as trustee.
- F12. Shares subject to the option are fully vested and immediately exercisable.
- F13. The shares are held of record by Center Court Partners Ltd., for which the reporting person serves as a partner.
- F14. The shares are held of record by Center Court 2020 Trust 1 dated December 11, 2020, for which the reporting person serves as trustee.
- F15. The shares are held of record by Center Court 2020 Trust 2 dated December 11, 2020, for which the reporting person serves as trustee.
- F16. The shares are held of record by Center Court 2020 Trust 3 dated December 11, 2020, for which the reporting person serves as trustee.
Key Figures
Options exercised: 10,000 shares
Option exercise price: $2.04 per share
Class A shares sold: 10,000 shares
+5 more
8 metrics
Options exercised
10,000 shares
Employee stock option exercise by CFO on September 17, 2026
Option exercise price
$2.04 per share
Exercise price for 10,000-share employee stock option
Class A shares sold
10,000 shares
Total Class A Common Stock sold on September 17, 2026
Example sale price
$318.90 per share
One of the reported per-share sale prices for Class A shares
Highest weighted-average range upper bound
$335.53 per share
Upper end of a weighted-average price range in the reported sales
GRAT Class A holdings
92,337 shares
Class A shares held by the 2026 Seifert Grantor Retained Annuity Trust
Indirect underlying Class A via Center Court Partners
150,000 shares
Underlying Class A shares associated with Class B held by Center Court Partners Ltd.
Underlying Class A per Center Court 2020 Trust
46,100 shares
Underlying Class A shares associated with Class B held by each 2020 trust reported
Key Terms
Rule 10b5-1 trading plan, Grantor Retained Annuity Trust, weighted average price, Class B Common Stock, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Grantor Retained Annuity Trust financial
"The shares are held of record by the 2026 Seifert Grantor Retained Annuity Trust"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
weighted average price financial
"The price reported in Column 4 is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Class B Common Stock financial
"Each share of Class B Common Stock is convertible at any time into Class A"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
immediately exercisable financial
"Shares subject to the option are fully vested and immediately exercisable"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Cloudflare (NET) disclose about its CFO’s option exercise on September 17, 2026?
Cloudflare disclosed that CFO Thomas J. Seifert exercised employee stock options for 10,000 shares on September 17, 2026 at an exercise price of $2.04 per share, resulting in shares that were converted into Class A Common Stock.
What are the terms of Cloudflare (NET) Class B Common Stock held or transacted by the CFO?
Each share of Class B Common Stock is convertible at any time into one share of Class A Common Stock at the reporting person’s election and has no expiration date, according to the filing’s footnote.
AI-generated analysis. How Rhea-AI works. Not financial advice.
