Cloudflare Director Carl Ledbetter Files Form 144 to Sell $8.8M in Common Stock
Cloudflare, Inc.
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Filing Summary
Form 144 Filing Analysis: Cloudflare, Inc. ($NET) • Insider: Carl Ledbetter (Director) • Filing Date: September 22, 2026 • Proposed Sale: 25,000 shares of Common Stock • Aggregate Market Value: $8,828,753.00 (~$353.15/share) • Trading Plan: Rule 10b5-1 plan adopted on February 25, 2026 • Broker: Stifel Nicolaus & Company Inc • Significance: Low (Scheduled routine disposition under a pre-established 10b5-1 plan representing <0.01% of total shares outstanding)
Comprehensive Analysis
Executive Summary
On September 22, 2026, Cloudflare, Inc. director Carl Ledbetter filed a Form 144 notice of proposed sale of securities covering 25,000 shares of Common Stock, with an estimated aggregate market value of $8,828,753.00 (~$353.15 per share). The proposed transaction is scheduled through broker Stifel Nicolaus & Company Inc and is governed by a pre-established Rule 10b5-1 trading plan.
Transaction Details
- Issuer: Cloudflare, Inc. (CIK: 0001477333, NYSE/Nasdaq: NET)
- Reporting Person: Carl Ledbetter (Director)
- Securities Offered: 25,000 shares of Common Stock
- Approximate Sale Date: September 22, 2026
- Estimated Aggregate Market Value: $8,828,753.00
- Shares Outstanding: 322,618,775 shares (<0.01% of outstanding shares proposed for sale)
- Source of Shares: Restricted Stock Units originally acquired from the issuer on November 10, 2009.
10b5-1 Plan & Recent Selling Activity
- Plan Adoption Date: February 25, 2026
- Past 3 Months Sales:
- July 7, 2026: 5,000 shares sold for gross proceeds of $1,340,547.00
- August 6, 2026: 5,000 shares sold for gross proceeds of $1,409,910.00
- September 14, 2026: 5,000 shares sold for gross proceeds of $1,765,750.50
Market Impact & Significance Assessment
The proposed disposition is assessed as Low market significance. The sale is executed pursuant to a Rule 10b5-1 trading plan adopted months prior, follows a steady series of regular monthly sales by the director, and represents a negligible fraction (<0.01%) of Cloudflare's total shares outstanding.
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Important Disclaimer
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