Kramer Douglas James 4

What Happened
Kramer Douglas James, Cloudflare's Chief Legal Officer, sold 3,000 shares of Cloudflare common stock in an open-market transaction on February 2, 2026, at $176.19 per share for total proceeds of $528,570. The sale was reported on Form 4 filed February 3, 2026. As a sale, this is generally considered routine insider selling rather than a direct bullish signal.

Key Details

• Transaction date: 2026-02-02 (reported 2026-02-03)
• Transaction type: Open-market sale (Code S) — 3,000 shares at $176.19 per share; proceeds $528,570
• Footnote: Sale was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 25, 2024 (prearranged plan)
• Shares owned after transaction: Not disclosed in the provided Form 4 summary
• Timeliness: Filed the next day (no indication of a late filing in the provided data)

Context
A 10b5-1 plan lets insiders sell shares according to a preset schedule or parameters, which can make such sales routine and less indicative of a change in personal view about the company. For retail investors, purchases typically carry more weight as signals; disclosed planned sales primarily document liquidity or portfolio management.