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

Cloudflare director Carl Ledbetter sold shares of Class A Common Stock on March 27, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Carl Ledbetter, a director at Cloudflare, sold shares of Class A Common Stock on March 27, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 28, 2023.
• A total of 8,011 shares were sold at a weighted average price of $100.0441, with prices ranging from $99.55 to $100.54.
• An additional 1,982 shares were sold at a weighted average price of $100.6373, with prices ranging from $100.56 to $100.695.
• Following the transactions, Ledbetter directly owns 15,388 shares and indirectly owns 1,275,004 shares through a trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. The sentiment is neutral as it simply reports the sale of shares.

Industry Context

Sales by company insiders are a common occurrence and are often pre-planned through Rule 10b5-1 trading plans to avoid accusations of insider trading. The market typically views these sales in the context of the overall trading volume and the individual's holdings.

Stakeholder Impact

• The sale of shares by a director could have a minor impact on shareholder sentiment, but is unlikely to be significant given the pre-planned nature of the transaction.

Key Dates