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 April 24, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Carl Ledbetter, a director at Cloudflare, Inc., sold shares of Class A Common Stock on April 24, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 28, 2023.
• A total of 5,334 shares were sold at a weighted average price of $88.8781, with individual prices ranging from $88.34 to $89.33.
• An additional 4,681 shares were sold at a weighted average price of $89.486, with individual prices ranging from $89.34 to $89.605.
• Following the transactions, Ledbetter directly owns 15,388 shares and indirectly owns 1,204,815 shares through the Carl S. Ledbetter Trust dated February 14, 2020, where he serves as a trustee.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting insider trading activity, which is neutral in sentiment. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific non-public information.

Industry Context

This filing is a routine disclosure of insider trading activity, which is common for corporate executives and directors. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific non-public information.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.

Key Dates