Every Form 4 that Cloudflare, Inc. (NET) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow NET and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NET filings page.
Cloudflare CEO Matthew Prince, who is also Board Co-Chair and a director, reported multiple transactions in Cloudflare Class A common stock over several days in early December 2025. On December 3, 4, and 5, 2025, he converted blocks of Class B common stock into Class A common stock, including 30,209 shares on December 3 and 52,384 shares on both December 4 and 5, all held indirectly through trusts.
Following these conversions, he reported a series of open-market sales of Class A shares on the same dates at weighted average prices generally between about $198 and $205 per share, in multiple tranches. The filing states that each share of Class B stock is convertible into one share of Class A stock with no expiration and that the reported sales were made under a pre-arranged Rule 10b5‑1 trading plan adopted on February 11, 2025.
Cloudflare, Inc. reported that director Chad Skinner sold 134 shares of Class A common stock on 12/01/2025 at a price of $197.65 per share. The transaction was a sale and left him with 10,856 shares beneficially owned directly after the trade.
The filing notes that this sale was carried out under a Rule 10b5-1 trading plan that Chad Skinner adopted on May 30, 2025, indicating it was pre-arranged rather than an opportunistic trade.
Cloudflare, Inc.’s Chief Legal Officer reported selling a total of 3,000 shares of Class A common stock on 12/01/2025 in three market transactions. The reported weighted average sale prices were about $196.02, $197.46, and $197.77, with each tranche executed across multiple trades within stated price ranges. These sales were made under a pre-arranged Rule 10b5-1 trading plan that the reporting person adopted on November 25, 2024. After these transactions, the officer beneficially owns 113,101 shares of Cloudflare Class A common stock, all held directly.
Cloudflare, Inc. (NET) reported insider activity by its President and Board Co-Chair, who also serves as a director. The report covers transactions dated 11/25/2025 and 11/26/2025 involving Class B Common Stock, which is convertible at any time into Class A Common Stock on a one-to-one basis and has no expiration date.
The filing shows a gift of Class B Common Stock to a 501(c)(3) charitable organization and updates to indirect holdings through multiple trusts and annuity trusts. These include interests such as 552,438 Class A Common Stock equivalents held by The Sutherland/Zatlyn Revocable Trust dated November 17, 2016, and 2,064,551 Class A Common Stock equivalents held by The SZ 2021 Irrevocable Trust dated November 6, 2021, along with several 2023–2025 irrevocable and annuity trusts where the reporting person serves as trustee, co-trustee, appointer, or investment advisor.
Cloudflare, Inc. (NET) CEO and Board Co‑Chair Matthew Prince filed a Form 4 reporting changes in his indirect holdings of Cloudflare stock. The filing shows movements in Class B Common Stock, which is convertible into Class A Common Stock on a one‑to‑one basis at his election and has no expiration date.
The transactions include entries with code "G" involving 495,257 shares of Class B Common Stock on 11/25/2025 and 11/26/2025, with footnote (3) stating this represents a gift to a 501(c)(3) charitable organization. The securities are held through multiple trusts and an LLC, including the Matthew Prince Revocable Trust and several Prince family irrevocable and grantor retained annuity trusts, where Prince serves as trustee, co‑trustee, or investment advisor.
Cloudflare, Inc. (NET) reported insider activity by its President and Board Co‑Chair, who is also a director. The Form 4 shows that on 11/20/2025, 11/21/2025, and 11/24/2025, employee stock options to purchase 25,641 shares of Class B common stock at an exercise price of $2.04 per share were exercised multiple times.
Each share of Class B common stock is convertible into one share of Class A common stock, and the converted Class A shares were then sold in a series of open‑market transactions. The reported weighted average sale prices range from about $185.70 to $202.94, with sales executed under a Rule 10b5‑1 trading plan adopted on February 14, 2025.
The filing also details that the shares are held through various family trusts, including The Sutherland/Zatlyn Revocable Trust and several irrevocable and annuity trusts, with some positions being re‑registered among these entities on November 17, 2025.
Cloudflare, Inc. (NET) chief financial officer reported multiple equity transactions on 11/20/2025. The filing shows an employee stock option exercise for 10,000 shares of Class B Common Stock, which were converted into Class A Common Stock, from an option with a $2.04 exercise price that is fully vested and immediately exercisable. The CFO then executed a series of open-market sales of Class A Common Stock under a Rule 10b5-1 trading plan adopted on November 26, 2024, at weighted average prices generally around the high-$180s to low-$200s per share.
After these transactions, the CFO directly owned 137,486 shares of Class A Common Stock. The filing also reports continuing derivative and indirect interests, including options and Class B Common Stock holdings convertible into Class A Common Stock, some of which are held through Center Court Partners Ltd. and several Center Court 2020 Trusts for which the CFO serves as trustee or partner.
Cloudflare, Inc. (NET) CEO and Board Co-Chair Matthew Prince, a director and 10% owner, reported multiple transactions in Class A Common Stock on 11/17/2025, 11/18/2025, and 11/19/2025. Indirect holdings in Class B Common Stock were converted into Class A Common Stock on each of these dates, followed by a series of open-market sales of Class A shares at weighted average prices in ranges generally between $191.01 and $209.39. The transactions were carried out through the Matthew Prince Revocable Trust and related family trusts and were made pursuant to a Rule 10b5-1 trading plan adopted on February 11, 2025, indicating a pre-arranged schedule for these insider sales.
Cloudflare, Inc. (NET) director reported a routine insider sale of company stock. On 11/19/2025, the reporting person sold 2,031 shares of Class A common stock at a price of $196.38 per share. After this transaction, the director beneficially owned 39,754 shares of Cloudflare Class A common stock.
The sale was executed under a pre-arranged Rule 10b5-1 trading plan that the reporting person adopted on August 20, 2025, which is designed to allow insiders to systematically sell shares over time.
Cloudflare, Inc. (NET) CEO, director and 10% owner Matthew Prince reported equity award activity involving Class A common stock and performance stock units. On 11/15/2025, 21,889 performance-based restricted stock units became Class A shares, increasing his directly held stock. On the same date, 17,321 shares were withheld at $210.6 per share to cover tax obligations related to vesting, leaving 349,644 shares directly owned and 22,175 shares held indirectly through his revocable trust. The PSUs are tied to stock price goals from $156.00 to $579.00, with one tranche linked to a $203.00 price goal now eligible to vest in six quarterly installments beginning November 15, 2025.
Cloudflare (NET) reported insider equity activity by its President and Board Co-Chair, who is also a director. On November 15, 2025, 21,889 performance-based restricted stock units (PSUs) became Class A shares after the performance metric was met and began vesting in six equal quarterly installments starting that date. To cover related tax obligations, 20,058 Class A shares were withheld, leaving 349,644 Class A shares held directly.
The reporting person also has indirect ownership through two trusts that hold 34,013 and 19,615 Class A shares. The PSU award consists of multiple tranches tied to stock price goals between $156.00 and $579.00, with one tranche tied to a $203.00 stock price goal now eligible to vest and 131,334 PSUs remaining beneficially owned. The PSUs continue to vest quarterly, subject to service conditions, with certain provisions applying upon a change in control.
Cloudflare, Inc. (NET) reported an insider transaction by its Chief Accounting Officer on a Form 4. On 11/15/2025, 3,874 shares of Class A Common Stock were disposed of using transaction code "F" to cover taxes due upon the vesting of restricted stock units. On 11/18/2025, the officer executed several open-market sales of Class A shares under a pre-arranged Rule 10b5-1 trading plan adopted on February 18, 2025, at weighted average prices including $188.89, $190.13 and in ranges from $194.91 to $199.23. After these transactions, the officer beneficially owned 56,144 shares of Cloudflare Class A Common Stock, which includes 17 shares acquired under the company’s employee stock purchase plan on November 7, 2025.
Cloudflare, Inc. (NET) filed a Form 4 reporting an equity transaction by its Chief Financial Officer. On 11/15/2025, the CFO had 20,476 shares of Class A common stock withheld, coded "F," at a price of $210.6 per share. The filing explains that these shares were withheld to cover the reporting person's tax liability related to the vesting of restricted stock units. After this tax withholding, the CFO directly beneficially owns 169,041 shares of Cloudflare Class A common stock.
Cloudflare, Inc. (NET) filed a Form 4 reporting an automatic share withholding by its Chief Legal Officer. On 11/15/2025, 13,191 shares of Class A common stock were disposed of at a price of $210.6 per share, identified with transaction code "F," which indicates shares withheld to cover taxes.
After this tax withholding related to the vesting of restricted stock units, the reporting person beneficially owns 116,101 shares of Cloudflare Class A common stock held directly.
Cloudflare, Inc. (NET) director reports planned share sale. A reporting person serving as a director sold a total of 15,000 shares of Class A common stock on 11/17/2025 under a Rule 10b5-1 trading plan adopted on February 14, 2025. The sales were executed in multiple transactions at weighted average prices ranging from about $206.99 to $211.89 per share. After these sales, 983,073 shares are held indirectly through the Carl S. Ledbetter Trust dated February 14, 2020, and 19,599 shares are reported as directly owned.
Cloudflare (NET) reported an insider equity move by its Chief Legal Officer. On November 11, 2025, the officer converted 7,000 shares of Class B Common Stock into Class A Common Stock (code C), then made a gift of 7,000 Class A shares (code G) at $0.
Following these transactions, the officer beneficially owned 129,292 shares of Class A directly. The filing also shows 30,175 shares of Class B remaining as derivative securities, which are convertible one‑for‑one into Class A with no expiration, per the footnote. The Class A balance includes 107 shares acquired under the employee stock purchase plan on November 7, 2025.
Cloudflare (NET) reported insider activity by its Chief Legal Officer on 11/03/2025 under a Rule 10b5-1 trading plan. The officer sold 955, 1,163, and 882 shares of Class A common stock at weighted average prices of $254.6648, $255.5833, and $256.4072, respectively. Following these sales, the officer beneficially owned 129,185 Class A shares directly.
The filing also shows option-related transactions coded “M,” reflecting 18,500 shares underlying an employee stock option at an exercise price of $2.04 and a conversion of Class B into Class A on a one-to-one basis, as permitted at the holder’s election.
Cloudflare, Inc. (NET) reported an insider transaction: a director filed a Form 4 detailing activity on 11/03/2025. The reporting person exercised a stock option for 2,520 shares at $44.72 and completed multiple open‑market sales the same day pursuant to a Rule 10b5-1 trading plan adopted on May 28, 2025.
Sale prices were disclosed as weighted averages across numerous trades, with ranges including $245.47–$245.97 and up to $256.955–$257.665 (see footnotes). After the transactions, the reporting person beneficially owned 495,191 Class A shares directly. 22,680 stock options were beneficially owned following the transactions. The option exercised is fully vested and carries an expiration date of 02/13/2032.
Cloudflare (NET) reported an insider transaction by a director. On 11/03/2025, the reporting person sold 1,000 shares of Class A common stock at $254.15 per share in an open-market transaction.
The filing notes the sale was made pursuant to a Rule 10b5-1 trading plan adopted on May 30, 2025. Following the sale, the director beneficially owns 10,990 shares, held directly.
Cloudflare, Inc. (NET) reported insider activity as a director disclosed open‑market sales of Class A Common Stock on 10/20/2025 under a Rule 10b5‑1 trading plan adopted on February 14, 2025.
Transactions included 5,100 shares at a weighted average price of $209.9092, 7,562 shares at $210.8144, and 2,338 shares at $211.7595. The filing notes price ranges of $209.33–$210.3212, $210.39–$211.295, and $211.55–$212.00 for the respective lots.
Following these sales, the reporting person beneficially owned 998,073 shares on an indirect basis, held by the Carl S. Ledbetter Trust dated February 14, 2020, for which the reporting person serves as a trustee.
Cloudflare (NET) filed a Form 4 for its CFO. On 10/20/2025, the reporting person exercised an employee stock option at $2.04 for 10,000 shares of Class B, converted them one-for-one into 10,000 shares of Class A, and then sold 10,000 Class A shares in multiple transactions under a Rule 10b5-1 trading plan adopted on November 26, 2024.
Sales were executed in blocks of 500, 2,600, 2,754, 3,846, and 300 shares at weighted average prices of $209.6202, $210.7816, $211.7076, $212.749, and $213.3967, respectively. Following these transactions, Class A beneficial ownership shown was 189,517 shares. Each share of Class B is convertible into Class A on a one-to-one basis with no expiration.
Cloudflare (NET) CEO and Board Co‑Chair Matthew Prince filed a Form 4 reporting a sale of 107 shares of Class A common stock at a weighted average price of $220.795 on October 16, 2025.
The transaction was made under a Rule 10b5‑1 trading plan adopted on February 11, 2025. The filing notes the shares were sold in multiple trades within a $220.54–$220.98 range and that records are available upon request. The shares are held of record by The Matthew Prince Revocable Trust dated October 29, 2015, for which the reporting person serves as trustee.
Cloudflare (NET) insider activity: The CEO and Board Co‑Chair, a 10% owner, converted 52,384 Class B shares into Class A on each of 10/14/2025, 10/15/2025, and 10/16/2025, then sold the converted shares in multiple tranches pursuant to a Rule 10b5‑1 trading plan adopted on 02/11/2025.
Sales were executed at weighted average prices within disclosed ranges, from $209.32 to $224.93 across the three days. The shares were held indirectly by The Matthew Prince Revocable Trust. Each Class B share is convertible into one Class A share and has no expiration date.
Cloudflare, Inc. (NET) — Insider Form 4 activity. A director reported transactions on 10/13/2025, including an option exercise and open‑market sales executed under a Rule 10b5‑1 trading plan adopted on May 28, 2025.
The insider exercised a stock option for 2,520 Class A shares at $44.72 (code M), then sold shares in multiple transactions the same day (codes S) at weighted average prices spanning disclosed ranges, including from $216.095 to $223.56. Following these transactions, the insider beneficially owned 495,191 Class A shares, held directly.
In the derivative table, the option is fully vested and immediately exercisable, with an exercise price of $44.72 and an expiration date of 02/13/2032. After the reported activity, the insider beneficially owned 25,200 derivative securities.
Insider transactions by Michelle Zatlyn, President and Board Co-Chair of Cloudflare, Inc. (NET)
The filing shows a sequence of option exercises and planned sales executed under a Rule 10b5-1 trading plan between 10/07/2025 and 10/09/2025. The reporting person exercised employee options with an exercise price of $2.04 to acquire 25,641 shares on each of the three days, and sold a total of 367,251 Class A shares across those dates at weighted-average prices in the ~$214.29–$221.63 ranges. Following these transactions, certain shares remain held indirectly in multiple trusts and the filing notes fully vested options and conversion mechanics between Class B and Class A shares.
Cloudflare director Mark J. Hawkins reported a sale of 1,000 shares of Class A common stock on 10/01/2025 at a price of $212.83 per share, leaving him with 11,990 shares held directly. The filing states the sale was executed under a Rule 10b5-1 trading plan adopted by the reporting person on 05/30/2025. The Form 4 was signed by a power of attorney on behalf of the reporting person.
Michelle Zatlyn, President and Board Co-Chair of Cloudflare (NET), reported multiple transactions on September 23-25, 2025. The Form 4 shows the reporting person acquired Class A Common Stock in three convertible/option-related transactions of 25,641 shares each and reported aggregate dispositions of 367,251 shares of Class A Common Stock over the reporting period. Many sold shares were executed pursuant to a Rule 10b5-1 trading plan adopted February 14, 2025. The filing also lists large indirect holdings held in various trusts and Class B shares convertible one-for-one into Class A. Employee stock options with a $2.04 exercise price and immediate exercisability are reported in connection with the transactions.
Carl Ledbetter, a director of Cloudflare, Inc. (NET), reported the sale of 19,599 shares of Class A common stock on 09/22/2025. The sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Ledbetter on 02/14/2025. The filing shows the sales occurred in multiple transactions at weighted-average prices reported in three groups: $223.3586, $224.2456, and $225.4559, with disclosed price ranges for each group. The shares are held of record by the Carl S. Ledbetter Trust dated February 14, 2020, for which he serves as trustee. After the reported transactions, the filing shows 1,013,073 shares of Class A common stock beneficially owned indirectly.
Cloudflare Chief Financial Officer Thomas J. Seifert reported a series of transactions on 09/22/2025 showing option exercise activity and multiple open-market sales. He exercised an employee stock option to acquire 10,000 shares at a $2.04 exercise price and, on the same day, sold multiple blocks of Class A common stock in transactions executed pursuant to a Rule 10b5-1 trading plan adopted November 26, 2024. The Form 4 shows a net reduction in direct beneficial ownership of Class A shares from 199,517 to 189,517 after the reported sales, with individual sale prices reported as weighted averages in the $222.85–$230.03 range. Several larger holdings remain indirectly held through entities and trusts for which he serves as partner or trustee.