Form 4: Cloudflare CLO Reports Stock Conversion and Gift
Insider Transaction Report
Cloudflare's Chief Legal Officer, Douglas James Kramer, reported a conversion of Class B to Class A common stock and a subsequent gift of Class A shares.
Summary
- Douglas James Kramer, Chief Legal Officer of Cloudflare, Inc. (NET), reported transactions on November 11, 2025.
- Converted 7,000 shares of Class B Common Stock into 7,000 shares of Class A Common Stock.
- Gifted 7,000 shares of Class A Common Stock.
- Beneficial ownership of Class A Common Stock decreased from 136,292 to 129,292 shares following the gift.
- Beneficial ownership of Class B Common Stock decreased from 37,175 to 30,175 shares due to the conversion.
- Includes 107 shares of Class A Common Stock acquired under the Issuer's employee stock purchase plan on November 7, 2025.
Sentiment
Score: 5
Explanation: The filing reports routine insider transactions, including a stock conversion and a gift, which are generally neutral in terms of direct impact on company sentiment. The small ESPP acquisition is a minor positive for employee alignment.
Positives
- Acquisition of 107 shares of Class A Common Stock under the Employee Stock Purchase Plan (ESPP) indicates continued employee investment and alignment with company performance.
Future Outlook
This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.
Industry Context
This insider transaction report is specific to an individual executive's stock holdings and does not provide information directly related to broader industry trends or competitive landscape.
Stakeholder Impact
- Shareholders may note the change in beneficial ownership by a key executive, though a gift is typically less impactful than a market sale.
- Employees participating in the ESPP may see the reported acquisition as a positive sign of continued internal investment.
Key Dates
| Date | Description |
|---|---|
| 11/07/2025 | Acquisition of 107 shares of Class A Common Stock under the Issuer's employee stock purchase plan. |
| 11/11/2025 | Date of earliest transaction, including conversion of Class B to Class A Common Stock and subsequent gift of Class A Common Stock. |
| 11/12/2025 | Signature date of the reporting person's power of attorney. |
Keywords
Cloudflare, NET, Form 4, Insider Transaction, Beneficial Ownership, Class A Common Stock, Class B Common Stock, Chief Legal Officer, Stock Gift, Stock Conversion
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