Form 4 for NET Cloudflare, Inc.
Accepted 2025-02-07 00:00:00 ET · period of report 2025-02-05 · accession 0001415889-25-003353 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2025-02-07 | 2025-02-05 | NET | Prince Matthew | CEO, BOARD CO-COB, Dir, 10% | A - Grant | $0.00 | +259.7K | 432.6K | +150% | $0 |
| D | 2025-02-07 | 2025-02-05 | NET | Prince Matthew | CEO, BOARD CO-COB, Dir, 10% | A - Grant | $0.00 | +175.1K | 175.1K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Class A Common Stock | 2025-02-05 | A | A | 259,672 | $0.00 | 432,631 | D | — | — | (F1) The reported shares are represented by restricted stock units, or RSUs, which vest in 20 equal quarterly installments beginning on May 15, 2025. |
| 2 | Derivative | Performance Stock Units | 2025-02-05 | A | A | 175,111 | $0.00 | 175,111 | D | — · — to 2032-02-04 | 175,111 Class A Common Stock | (F3) Each performance-based restricted stock unit, or PSU, represents a contingent right to receive one share of Issuer Class A Common Stock. (F5) In addition, the PSUs are subject to the reporting person's continued status as a Service Provider through each vesting date. The time-based vesting requirements are waived upon a change in control of the Issuer. (F4) The PSUs are comprised of six separate tranches that become eligible to vest upon achievement of certain stock price targets ranging from $156.00 to $579.00 (the "Stock Price Goals") at any time within seven years of February 5, 2025, with the performance period shortened to end upon a change in control of the Issuer. Upon satisfaction of a Stock Price Goal, 1/6 of the shares subject to the applicable tranche vest and become exercisable on each Issuer quarterly vesting date (2/15, 5/15, 8/15 or 11/15) occurring on or after the date of certification of achievement of the applicable Stock Price Goal for such tranche. |