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

Cloudflare director Carl Ledbetter sold a portion of his Class A Common Stock holdings on May 8, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 8, 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 30,145 shares were sold in two separate transactions.
• The first transaction involved the sale of 29,116 shares at a weighted average price of $72.839, with prices ranging from $72.48 to $73.455.
• The second transaction involved the sale of 1,029 shares at a weighted average price of $73.5069, with prices ranging from $73.48 to $73.545.
• Following the reported transactions, Ledbetter directly owns 15,388 shares and indirectly owns 1,166,648 shares through a trust.

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 sales are a common occurrence, and sales under 10b5-1 plans are generally viewed as less impactful since they are pre-planned. Investors often monitor insider transactions for signals about a company's prospects, but these sales are less informative due to the pre-arranged nature.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, but is unlikely to be significant due to the pre-planned nature of the transactions.

Key Dates