Form 4: Cloudflare Director Carl Ledbetter Sells Shares in May 2024

Carl Ledbetter, a director at Cloudflare, sold shares of Class A Common Stock on May 1, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Carl Ledbetter, a director of Cloudflare, sold shares of Class A Common Stock on May 1, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 28, 2023.
• Two transactions occurred: one involving 6,152 shares sold at a weighted average price of $87.3643, and another involving 1,870 shares sold at a weighted average price of $87.9119.
• Following the transactions, Ledbetter directly owns 15,388 shares and indirectly owns 1,196,793 shares through the Carl S. Ledbetter Trust dated February 14, 2020.
• Ledbetter serves as a trustee for the Carl S. Ledbetter Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. The sentiment is neutral as it simply reports the sale of shares under a pre-arranged trading plan.

Industry Context

Sales by company directors are a normal part of corporate governance. Investors often monitor these sales for insights into management's perspective on the company's valuation and future prospects. Rule 10b5-1 plans are designed to allow insiders to sell shares without being accused of trading on non-public information.

Stakeholder Impact

• The share sales may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.
• The sales do not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates