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 13, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On March 13, 2024, Carl Ledbetter, a director at Cloudflare, Inc., sold shares of Class A Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 28, 2023.
• A total of 44,099 shares were sold in multiple transactions at varying prices.
• 28,989 shares were sold at a weighted average price of $96.1746, with prices ranging from $95.60 to $96.57.
• 15,110 shares were sold at a weighted average price of $96.9287, with prices ranging from $96.62 to $97.52.
• Following the reported transactions, Ledbetter directly owns 15,388 shares and indirectly owns 1,292,965 shares through a trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it's a standard disclosure of stock sales under a pre-arranged trading plan. It doesn't inherently reflect a positive or negative view of the company's prospects.

Industry Context

This filing is a routine disclosure of insider trading activity. It's common for corporate insiders to utilize 10b5-1 trading plans to sell shares over time to avoid accusations of trading on non-public information. The sale itself doesn't necessarily indicate a negative outlook on the company.

Stakeholder Impact

• The stock sale could have a minor negative impact on shareholders if it creates downward pressure on the stock price, although the impact is likely to be minimal given the pre-planned nature of the sales.

Key Dates