Form 4: Cloudflare Director Carl Ledbetter Sells Shares Under 10b5-1 Plan

Cloudflare director Carl Ledbetter sold 7,994 shares of Class A Common Stock at a weighted average price of $72.7856 on May 29, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 29, 2024, Carl Ledbetter, a director of Cloudflare, Inc., sold 7,994 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $72.7856 per share, with individual prices ranging from $72.55 to $73.16.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on February 28, 2023.
• Following the transaction, Ledbetter directly owns 15,388 shares and indirectly owns 1,140,665 shares through the Carl S. Ledbetter Trust dated February 14, 2020, where he serves as trustee.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale by a company director under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

Insider sales are a common occurrence in publicly traded companies and are often viewed in the context of overall market conditions and company performance. The use of a 10b5-1 trading plan suggests the sale was pre-planned and not based on immediate inside information.

Stakeholder Impact

• The sale of shares by a director could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider information.

Key Dates