Cloudflare: president and board co-chair Michelle Zatlyn sold 99,009 shares

What happened

• Michelle Zatlyn, president and board co-chair, converted Class B common stock/derivative securities into Class A shares and sold those shares in open-market transactions. She converted and sold 33,003 shares on Oct 5, 2026; converted and sold 33,003 shares on Oct 6, 2026; and converted and sold 33,003 shares on Oct 7, 2026 — a total of 99,009 shares for total gross proceeds of $35,235,659.

Key details

• Transaction dates and prices:
  • Oct 5, 2026: 33,003 shares sold at prices ranging about $349.07 to $356.05, proceeds $11,636,905.
  • Oct 6, 2026: 33,003 shares sold at prices ranging about $364.39 to $369.34, proceeds $12,104,182.
  • Oct 7, 2026: 33,003 shares sold at prices ranging about $346.40 to $352.25, proceeds $11,494,572.
• Shares owned after the transactions: not specified in the filing.
• Footnotes of note:
  • F1: Each Class B share is convertible one-to-one into Class A common stock.
  • F3: The sales were effected pursuant to a Rule 10b5-1 trading plan adopted Feb 27, 2026.
  • F26 and related footnotes: upon conversion some shares were re-registered and are held of record by the reporting person's revocable trust and various other trusts as described in the filing.
• Filing date and timeliness: Form 4 filed Oct 7, 2026; the filing does not indicate a late filing.

Why it may matter

• The filing shows conversion of derivative securities (Class B to Class A) and immediate open-market sales of the converted shares on each of the three days.
• The filing indicates the trades were executed under a Rule 10b5-1 trading plan.
• This filing does not show why the insider traded or why the company acted.