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

Cloudflare director Carl Ledbetter sold 7,990 shares of Class A Common Stock at a weighted average price of $74.5639, executed under a pre-arranged 10b5-1 trading plan.

Summary

• On May 15, 2024, Carl Ledbetter, a director at Cloudflare, Inc. sold 7,990 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $74.5639 per share.
• The transactions occurred within a price range of $74.20 to $74.79.
• The sale 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 1,158,658 shares through the Carl S. Ledbetter Trust dated February 14, 2020.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction was pre-planned under a 10b5-1 trading plan. It doesn't necessarily reflect a positive or negative view of the company's prospects.

Industry Context

Insider sales are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares without being accused of trading on non-public information. The market will often look at the ratio of insider sales to purchases to gauge sentiment.

Stakeholder Impact

• The sale could have a minor negative impact on shareholder sentiment, although the pre-planned nature of the sale mitigates this concern.

Key Dates