Form 4: Cloudflare's President and COO, Michelle Zatlyn, Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Michelle Zatlyn, President and COO of Cloudflare, reports a transaction involving the withholding of shares to cover tax liabilities related to vesting restricted stock units.
Summary
- On May 15, 2024, Michelle Zatlyn, President and COO of Cloudflare, reported changes in her beneficial ownership of Cloudflare's Class A Common Stock.
- 9,740 shares were withheld to satisfy tax liabilities related to the vesting of restricted stock units (RSUs) at a price of $74.25.
- Following the transaction, Zatlyn directly owns 211,394 shares of Class A Common Stock.
- She also indirectly owns 48,023 shares through The Sutherland/Zatlyn Revocable Trust and 19,615 shares through The SZ 2021 Irrevocable Trust.
- 9,478 shares issuable upon vesting and settlement of the RSUs were re-registered and are now held directly by The Sutherland/Zatlyn Revocable Trust dated November 17, 2016, for which the reporting person serves as co-trustee.
Sentiment
Score: 5
Explanation: This is a neutral filing related to stock transactions for tax purposes; it doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common for publicly traded companies like Cloudflare.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it primarily reflects tax-related stock withholding.
Key Dates
| Date | Description |
|---|---|
| November 17, 2016 | Date of The Sutherland/Zatlyn Revocable Trust |
| November 6, 2021 | Date of The SZ 2021 Irrevocable Trust |
| May 15, 2024 | Date of the reported transaction |
| May 17, 2024 | Date of signature |
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