NET.NYSECloudflare, INC
Form 4: Cloudflare President Sells Shares
Sentiment:
Insider Transaction (Form 4)
Michelle Zatlyn, PRESIDENT & BOARD CO-CHAIR and a Director of Cloudflare, Inc., sold 99,009 shares of common stock on September 3, 2026.
Summary
- Conversion of derivative: acquired 33,003 Class A Common Stock on September 3, 2026; holds 102,778 after (Indirect).
- Open-market sale: disposed of 7,203 Class A Common Stock at $276.79 ($1,993,718) on September 3, 2026; holds 95,575 after (Indirect).
- Open-market sale: disposed of 7,273 Class A Common Stock at $277.79 ($2,020,367) on September 3, 2026; holds 88,302 after (Indirect).
- Open-market sale: disposed of 5,396 Class A Common Stock at $278.92 ($1,505,052) on September 3, 2026; holds 82,906 after (Indirect).
- Open-market sale: disposed of 4,744 Class A Common Stock at $279.77 ($1,327,229) on September 3, 2026; holds 78,162 after (Indirect).
- Open-market sale: disposed of 6,177 Class A Common Stock at $281.07 ($1,736,169) on September 3, 2026; holds 71,985 after (Indirect).
- Open-market sale: disposed of 2,210 Class A Common Stock at $281.73 ($622,623) on September 3, 2026; holds 69,775 after (Indirect).
- Conversion of derivative: acquired 33,003 Class A Common Stock on September 4, 2026; holds 102,778 after (Indirect).
- Open-market sale: disposed of 2,753 Class A Common Stock at $279.73 ($770,097) on September 4, 2026; holds 100,025 after (Indirect).
- Open-market sale: disposed of 7,843 Class A Common Stock at $281.02 ($2,204,040) on September 4, 2026; holds 92,182 after (Indirect).
- Open-market sale: disposed of 17,603 Class A Common Stock at $281.93 ($4,962,814) on September 4, 2026; holds 74,579 after (Indirect).
- Open-market sale: disposed of 4,804 Class A Common Stock at $282.87 ($1,358,907) on September 4, 2026; holds 69,775 after (Indirect).
- Conversion of derivative: acquired 33,003 Class A Common Stock on September 8, 2026; holds 102,778 after (Indirect).
- Open-market sale: disposed of 1,713 Class A Common Stock at $272.41 ($466,638) on September 8, 2026; holds 101,065 after (Indirect).
- Open-market sale: disposed of 2,428 Class A Common Stock at $273.09 ($663,063) on September 8, 2026; holds 98,637 after (Indirect).
- Open-market sale: disposed of 2,202 Class A Common Stock at $274.39 ($604,207) on September 8, 2026; holds 96,435 after (Indirect).
- Open-market sale: disposed of 1,387 Class A Common Stock at $276.58 ($383,616) on September 8, 2026; holds 95,048 after (Indirect).
- Open-market sale: disposed of 4,823 Class A Common Stock at $277.53 ($1,338,527) on September 8, 2026; holds 90,225 after (Indirect).
- Open-market sale: disposed of 14,961 Class A Common Stock at $278.48 ($4,166,339) on September 8, 2026; holds 75,264 after (Indirect).
- Open-market sale: disposed of 5,489 Class A Common Stock at $279.41 ($1,533,681) on September 8, 2026; holds 69,775 after (Indirect).
- Option exercise/conversion: disposed of 33,003 Employee Stock Option (right to buy) on September 3, 2026; holds 1,056,096 after (Direct).
- Option exercise/conversion: acquired 33,003 Class B Common Stock on September 3, 2026; holds 33,003 after (Direct).
- Conversion of derivative: disposed of 33,003 Class B Common Stock on September 3, 2026 (Direct).
- Option exercise/conversion: disposed of 33,003 Employee Stock Option (right to buy) on September 4, 2026; holds 1,023,093 after (Direct).
- Option exercise/conversion: acquired 33,003 Class B Common Stock on September 4, 2026; holds 33,003 after (Direct).
- Conversion of derivative: disposed of 33,003 Class B Common Stock on September 4, 2026 (Direct).
- Option exercise/conversion: disposed of 33,003 Employee Stock Option (right to buy) on September 8, 2026; holds 990,090 after (Direct).
- Option exercise/conversion: acquired 33,003 Class B Common Stock on September 8, 2026; holds 33,003 after (Direct).
- Conversion of derivative: disposed of 33,003 Class B Common Stock on September 8, 2026 (Direct).
Sentiment
Score: 4
Explanation: StockSavvy.ai views this as a mildly negative but low-conviction signal: an insider sold $27,657,089 of stock under a pre-arranged Rule 10b5-1 plan, which is typically routine.
Insider Transactions
Michelle Zatlyn — Director, Officer (PRESIDENT & BOARD CO-CHAIR)
Transaction made under a Rule 10b5-1 trading plan.
| Date | Transaction | Security | Shares | Price | Value | Held After |
|---|---|---|---|---|---|---|
| 2026-09-03 | Conversion of derivative | Class A Common Stock | 33,003 | — | — | 102,778 |
| 2026-09-03 | Open-market sale | Class A Common Stock | 7,203 | $277 | $2.0M | 95,575 |
| 2026-09-03 | Open-market sale | Class A Common Stock | 7,273 | $278 | $2.0M | 88,302 |
| 2026-09-03 | Open-market sale | Class A Common Stock | 5,396 | $279 | $1.5M | 82,906 |
| 2026-09-03 | Open-market sale | Class A Common Stock | 4,744 | $280 | $1.3M | 78,162 |
| 2026-09-03 | Open-market sale | Class A Common Stock | 6,177 | $281 | $1.7M | 71,985 |
| 2026-09-03 | Open-market sale | Class A Common Stock | 2,210 | $282 | $622.6K | 69,775 |
| 2026-09-04 | Conversion of derivative | Class A Common Stock | 33,003 | — | — | 102,778 |
| 2026-09-04 | Open-market sale | Class A Common Stock | 2,753 | $280 | $770.1K | 100,025 |
| 2026-09-04 | Open-market sale | Class A Common Stock | 7,843 | $281 | $2.2M | 92,182 |
| 2026-09-04 | Open-market sale | Class A Common Stock | 17,603 | $282 | $5.0M | 74,579 |
| 2026-09-04 | Open-market sale | Class A Common Stock | 4,804 | $283 | $1.4M | 69,775 |
| 2026-09-08 | Conversion of derivative | Class A Common Stock | 33,003 | — | — | 102,778 |
| 2026-09-08 | Open-market sale | Class A Common Stock | 1,713 | $272 | $466.6K | 101,065 |
| 2026-09-08 | Open-market sale | Class A Common Stock | 2,428 | $273 | $663.1K | 98,637 |
| 2026-09-08 | Open-market sale | Class A Common Stock | 2,202 | $274 | $604.2K | 96,435 |
| 2026-09-08 | Open-market sale | Class A Common Stock | 1,387 | $277 | $383.6K | 95,048 |
| 2026-09-08 | Open-market sale | Class A Common Stock | 4,823 | $278 | $1.3M | 90,225 |
| 2026-09-08 | Open-market sale | Class A Common Stock | 14,961 | $278 | $4.2M | 75,264 |
| 2026-09-08 | Open-market sale | Class A Common Stock | 5,489 | $279 | $1.5M | 69,775 |
| 2026-09-03 | Option exercise/conversion | Employee Stock Option (right to buy) | 33,003 | — | — | 1,056,096 |
| 2026-09-03 | Option exercise/conversion | Class B Common Stock | 33,003 | — | — | 33,003 |
| 2026-09-03 | Conversion of derivative | Class B Common Stock | 33,003 | — | — | 0 |
| 2026-09-04 | Option exercise/conversion | Employee Stock Option (right to buy) | 33,003 | — | — | 1,023,093 |
| 2026-09-04 | Option exercise/conversion | Class B Common Stock | 33,003 | — | — | 33,003 |
| 2026-09-04 | Conversion of derivative | Class B Common Stock | 33,003 | — | — | 0 |
| 2026-09-08 | Option exercise/conversion | Employee Stock Option (right to buy) | 33,003 | — | — | 990,090 |
| 2026-09-08 | Option exercise/conversion | Class B Common Stock | 33,003 | — | — | 33,003 |
| 2026-09-08 | Conversion of derivative | Class B Common Stock | 33,003 | — | — | 0 |
Key Dates
| Date | Description |
|---|---|
| 2026-09-03 | Conversion of derivative (33,003 shares) |
| 2026-09-03 | Open-market sale (7,203 shares) |
| 2026-09-03 | Open-market sale (7,273 shares) |
| 2026-09-03 | Open-market sale (5,396 shares) |
| 2026-09-03 | Open-market sale (4,744 shares) |
| 2026-09-03 | Open-market sale (6,177 shares) |
| 2026-09-03 | Open-market sale (2,210 shares) |
| 2026-09-04 | Conversion of derivative (33,003 shares) |
| 2026-09-04 | Open-market sale (2,753 shares) |
| 2026-09-04 | Open-market sale (7,843 shares) |
| 2026-09-04 | Open-market sale (17,603 shares) |
| 2026-09-04 | Open-market sale (4,804 shares) |
| 2026-09-08 | Conversion of derivative (33,003 shares) |
| 2026-09-08 | Open-market sale (1,713 shares) |
| 2026-09-08 | Open-market sale (2,428 shares) |
| 2026-09-08 | Open-market sale (2,202 shares) |
| 2026-09-08 | Open-market sale (1,387 shares) |
| 2026-09-08 | Open-market sale (4,823 shares) |
| 2026-09-08 | Open-market sale (14,961 shares) |
| 2026-09-08 | Open-market sale (5,489 shares) |
| 2026-09-03 | Option exercise/conversion (33,003 shares) |
| 2026-09-03 | Option exercise/conversion (33,003 shares) |
| 2026-09-03 | Conversion of derivative (33,003 shares) |
| 2026-09-04 | Option exercise/conversion (33,003 shares) |
| 2026-09-04 | Option exercise/conversion (33,003 shares) |
| 2026-09-04 | Conversion of derivative (33,003 shares) |
| 2026-09-08 | Option exercise/conversion (33,003 shares) |
| 2026-09-08 | Option exercise/conversion (33,003 shares) |
| 2026-09-08 | Conversion of derivative (33,003 shares) |
Keywords
insider transaction, Form 4, NET, Cloudflare, Inc., bearish, Michelle Zatlyn
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