Cloudflare (NET) Director Carl Ledbetter Sells 5,000 Shares

What Happened Carl Ledbetter, a director of Cloudflare, sold 5,000 shares of Cloudflare common stock on September 22, 2026. The shares were disposed in open-market transactions at a weighted-average price of $353.15 per share (range $353.00–$353.60), generating total proceeds of about $1,765,751. This was a sale (not a purchase) and was executed under a pre-established Rule 10b5-1 trading plan.

Key Details

• Transaction date: 2026-09-22; Form 4 filed: 2026-09-23 (appears timely).
• Transaction type: Sale (code S); 5,000 shares sold.
• Price: Weighted average $353.15; individual trade prices ranged $353.00–$353.60.
• Total proceeds reported: $1,765,751.
• Shares owned after transaction: Not disclosed in this Form 4.
• Notable footnotes:
  • F1: Sale was effected pursuant to a 10b5-1 plan adopted February 25, 2026.
  • F2: Weighted-average price; multiple trades at prices in the stated range; issuer/SEC can request per-trade breakdown.
  • F3: Shares are held of record by the Carl S. Ledbetter Trust (dated Feb 14, 2020); Ledbetter is a trustee.

Context Sales executed under a 10b5-1 plan are pre-planned and often reflect scheduled, rule-compliant dispositions rather than an immediate change in the insider’s view of the company. For retail investors, purchases typically carry more informational weight than routine sales; this filing documents a routine, planned sale by a director, not an acquisition or option exercise.