Form 4: Cloudflare's President and Board Co-Chair, Michelle Zatlyn, Reports Changes in Beneficial Ownership

Michelle Zatlyn, President and Board Co-Chair of Cloudflare, reports changes in her beneficial ownership of Class A Common Stock due to tax liability satisfaction and trust re-registrations.

Summary

• On May 15, 2025, Michelle Zatlyn, President and Board Co-Chair of Cloudflare, reported changes in her beneficial ownership of Cloudflare's Class A Common Stock.
• 16,352 shares were disposed of to cover tax liabilities related to the vesting of restricted stock units (RSUs) at a price of $154.49 per share.
• 15,848 shares issuable upon vesting and settlement of RSUs were re-registered and are now held directly by The Sutherland/Zatlyn Revocable Trust, for which Zatlyn serves as co-trustee.
• Zatlyn also indirectly owns 19,615 shares held by The SZ 2021 Irrevocable Trust, where she serves as the appointer.
• Following these transactions, Zatlyn directly owns 381,213 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing changes in stock ownership, with no inherent positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider, which is a common occurrence for publicly traded companies.

Stakeholder Impact

• The transactions are unlikely to have a significant impact on stakeholders as they relate to routine tax liability settlements and trust re-registrations.

Key Dates

Keywords

Cloudflare, Michelle Zatlyn, beneficial ownership, Class A Common Stock, Form 4, SEC, RSU, trust, Sutherland/Zatlyn Revocable Trust, SZ 2021 Irrevocable Trust