Form 4: Cloudflare CEO Matthew Prince Reports Stock Transaction
SEC Form 4 Filing
Cloudflare's CEO, Matthew Prince, reports a transaction involving Class A Common Stock related to tax liability and the vesting of restricted stock units.
Summary
- Matthew Prince, CEO and Chair of the Board of Cloudflare, Inc., filed a Form 4.
- The filing reports a transaction on May 15, 2024, where 10,476 shares of Class A Common Stock were disposed of to satisfy tax liabilities related to the vesting of restricted stock units (RSUs).
- The shares were withheld at a price of $74.25.
- Following the transaction, Prince directly owns 211,394 shares of Class A Common Stock.
- Additionally, 8,742 shares issuable upon vesting and settlement of RSUs were re-registered and are now held directly by The Matthew Prince Revocable Trust dated October 29, 2015, for which the reporting person serves as trustee.
- The Revocable Trust holds 8,742 shares.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. It reports a routine transaction related to tax obligations.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to the market.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| October 29, 2015 | Date of The Matthew Prince Revocable Trust |
| May 15, 2024 | Date of stock transaction (disposal of shares for tax liability) |
| May 17, 2024 | Date of signature on the Form 4 filing |
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