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Cloudflare, Inc.·4

Feb 26, 9:04 PM ET

Prince Matthew 4

Research Summary

AI-generated summary

Updated

Cloudflare (NET) 10% Owner Matthew Prince Sells 157,152 Shares

What Happened
Matthew Prince (reported as a 10% owner) converted Class B shares to Class A and sold a total of 157,152 shares of Cloudflare (NET) in open‑market transactions between Feb 24–26, 2026. The three conversion events were for 52,384 shares each (one‑for‑one conversion of Class B to Class A per footnote F1), and the subsequent sales generated approximately $26,559,685 in proceeds. The sales were effected under a Rule 10b5‑1 trading plan adopted Feb 11, 2025 (footnote F3). Reported per‑lot/weighted prices ranged roughly from ~$159.6 to ~$177.29 across the transactions.

Key Details

  • Dates: Feb 24, 2026 | Feb 25, 2026 | Feb 26, 2026.
  • Shares sold: 52,384 each day → total 157,152 shares.
  • Proceeds by date: ~ $8.599M (2/24), ~ $8.857M (2/25), ~ $9.103M (2/26) — total ≈ $26.56M.
  • Price ranges/notes: weighted average prices reported by lot; underlying trade prices across lots ranged ~ $159.62–$177.285 (see footnotes F4–F27 for per‑lot ranges).
  • Conversion details: three “C” (conversion of derivative security) entries reflect conversion of Class B to Class A shares at no cash cost (reported $0).
  • Plan/authority: Sales effected pursuant to a 10b5‑1 trading plan (footnote F3).
  • Holdings: Filing identifies Mr. Prince as a 10% owner and lists multiple trusts holding shares for which he serves as trustee or investment advisor (footnotes F2, F28–F34). The Form 4 does not disclose an exact post‑transaction share total in the summary provided here.
  • Timeliness: Filing dated Feb 26, 2026; transactions occurred Feb 24–26, 2026 (no late‑filing indication in the filing).

Context

  • The “C” entries are conversions (Class B → Class A), not cash purchases; the converted shares were then sold.
  • Sales executed under a pre‑arranged 10b5‑1 plan are typically automated dispositions and do not, by themselves, indicate a change in insider sentiment.
  • As a 10% owner, Mr. Prince’s transactions are subject to additional reporting rules; the filing shows trust holdings where he has trustee/investment advisor roles.