NET.NYSECloudflare, INC

Form 4: Cloudflare's Chief Legal Officer, Douglas Kramer, Executes Stock Option and Sells Shares

Sentiment:

SEC Form 4 Filing

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Douglas Kramer, Chief Legal Officer of Cloudflare, exercised stock options and sold 3,000 shares of Class A Common Stock at $81.53 per share on September 3, 2024, according to a Form 4 filing.

Summary

  • On September 3, 2024, Douglas Kramer, the Chief Legal Officer of Cloudflare, exercised stock options to acquire 3,000 shares.
  • Kramer then sold 3,000 shares of Class A Common Stock at a price of $81.53 per share.
  • These transactions were reported on a Form 4 filing with the SEC.
  • The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 29, 2023.
  • Following these transactions, Kramer directly owns 185,386 shares of Class A Common Stock and holds options for 70,675 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports transactions by an officer under a pre-existing trading plan.

Future Outlook

The filing does not contain any forward-looking statements regarding the company's future performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The sale was executed under a pre-arranged 10b5-1 trading plan.

Key Dates

DateDescription
November 29, 2023Date the Rule 10b5-1 trading plan was adopted.
July 25, 2027Expiration date of Employee Stock Option.
September 03, 2024Date of stock option exercise and sale of shares.
September 04, 2024Date of Form 4 filing.

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