SEC EDGAR · Sep 21, 08:50 PM UTC
Cloudflare CFO Seifert sells 10,000 shares under November 2025 10b5-1 plan
Historical operation · Retained
“The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 20, 2025.”
Quoted source · 55 source segments
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Model assessment
Form 4 for Cloudflare CFO Thomas J. Seifert reports a same-day option exercise and conversion of 10,000 Class B shares into Class A shares, followed by multiple open-market sales on 2026-09-17 totaling roughly 10,000 Class A shares at weighted-average prices from about $318.90 to $336.51, leaving 107,902 directly owned Class A shares plus indirect holdings. Footnote F2 states the sales were effected under a Rule 10b5-1 trading plan adopted November 20, 2025. Under the ownership-form rules, a routine plan-based insider sale without a demonstrated current issuer effect is not directional evidence, so the operation is DO_NOTHING.
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