Cloudflare CFO Thomas J. Seifert Sells $3.74M in Shares Under Pre-Scheduled 10b5-1 Plan
Cloudflare, Inc.
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Filing Summary
Cloudflare, Inc. ($NET) - Form 4 Filing
Insider: Thomas J. Seifert (Chief Financial Officer)
Date: 2026-10-19 (Report Period: 2026-10-15)
Summary of Activity:
• Option Exercise: 12,500 shares @ $44.72
• Open Market Sales: 12,500 shares @ avg $299.59 ($3.74M total proceeds)
• Tax Withholding: 2,944 shares @ $316.32 ($931K)
• Remaining Direct Holdings: 104,958 shares (+92,337 indirect via GRAT)
• Trading Plan: Rule 10b5-1 adopted Nov 20, 2025
Comprehensive Analysis
Executive Summary
On October 19, 2026, Cloudflare, Inc. ($NET) Chief Financial Officer Thomas J. Seifert filed a Form 4 disclosing the exercise of performance stock options and subsequent sale of 12,500 shares of Class A Common Stock, alongside a 2,944 share tax-withholding disposition.
Transaction Details
- Tax Withholding (2026-10-15): 2,944 shares were withheld at $316.32 per share (total value: $931,246.08) to satisfy tax liabilities stemming from the vesting of restricted stock units (RSUs).
- Option Exercise (2026-10-19): Exercised 12,500 performance stock options at a strike price of $44.72 per share.
- Open Market Sales (2026-10-19): Sold a matching 12,500 shares in multiple tranches at weighted-average prices between $297.29 and $304.15, generating gross proceeds of approximately $3,744,827.22 (average price: ~$299.59).
- Trading Plan: The sales were executed under a pre-established Rule 10b5-1 trading plan adopted on November 20, 2025.
Post-Transaction Holdings
Following these transactions, Thomas J. Seifert directly owns 104,958 shares of Class A Common Stock. In addition, 92,337 shares are held indirectly through the 2026 Seifert Grantor Retained Annuity Trust. The reporting person also continues to hold 487,500 performance stock options.
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