Cloudflare CFO Thomas J. Seifert Executes $3.32M Rule 10b5-1 Stock Sale

Executive Summary

On September 17, 2026, Cloudflare, Inc. ($NET) Chief Financial Officer Thomas J. Seifert executed an exercise of 10,000 employee stock options at an exercise price of $2.04 per share and subsequently sold all 10,000 underlying shares of Class A Common Stock. The sales generated aggregate gross proceeds of approximately $3,324,617.43 at a volume-weighted average price of roughly $332.46 per share.

Transaction Details

• Option Exercise: 10,000 options exercised at $2.04 per share, resulting in 10,000 Class B Common shares, which were converted on a 1:1 basis into Class A Common Stock.
• Open Market Dispositions: 10,000 shares of Class A Common Stock sold across 12 tranches ranging from $318.90 to $336.51.
• Total Disposition Proceeds: $3,324,617.43.
• Remaining Holdings: Seifert directly holds 107,902 shares of Class A Common Stock, indirectly holds 92,337 Class A shares via a Grantor Retained Annuity Trust (GRAT), and retains significant direct and indirect holdings in Class B Common Stock.

Context & Plan Details

All sales reported were transacted pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 20, 2025. Because the transactions were planned well in advance and represent an option exercise and liquidation, they carry Low predictive market significance.