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

Carl Ledbetter, a director at Cloudflare, sold shares of Class A Common Stock on March 6, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On March 6, 2024, Carl Ledbetter, a director of Cloudflare, 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 5,920 shares were sold at a weighted average price of $98.1483, with individual prices ranging from $97.66 to $98.57.
• An additional 2,102 shares were sold at a weighted average price of $98.9102, with individual prices ranging from $98.71 to $99.09.
• Following these transactions, Ledbetter directly owns 15,388 shares and indirectly owns 1,337,064 shares through a trust.
• The reporting person has undertaken to provide full information regarding the number of shares sold at each separate price within the specified ranges upon request.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions without expressing any opinion or outlook.

Industry Context

Insider selling is a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares in a pre-planned manner to avoid accusations of trading on non-public information. The market typically views these sales in the context of the overall trading volume and the company's performance.

Stakeholder Impact

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

Key Dates