[Form 4] Cloudflare, Inc. Class A common stock, par value $0.001 per share Insider Trading Activity
Carl Ledbetter, a director of Cloudflare, Inc. (NET), reported multiple open-market sales of Class A common stock executed under a Rule 10b5-1 trading plan adopted February 14, 2025. The filing lists three reported sales on 08/25/2025: 3,060 shares at a weighted average price of $194.8508, 9,660 shares at $195.8238, and 2,280 shares at $196.5062. The Form states the shares sold were held of record by the Carl S. Ledbetter Trust (Ledbetter serves as trustee). Post-transaction beneficial ownership amounts are shown as 1,040,013; 1,030,353; and 1,028,073 Class A shares following the respective reported sales. The Form 4 was signed by a power of attorney on 08/26/2025.
Carl Ledbetter, amministratore di Cloudflare, Inc. (NET), ha comunicato pi霉 vendite in mercato aperto di azioni ordinarie di Classe A effettuate nell鈥檃mbito di un piano di negoziazione Rule 10b5-1 adottato il 14 febbraio 2025. La comunicazione indica tre vendite registrate il 25/08/2025: 3.060 azioni a un prezzo medio ponderato di $194,8508, 9.660 azioni a $195,8238 e 2.280 azioni a $196,5062. Il modulo dichiara che le azioni vendute erano di propriet脿 registrata del Carl S. Ledbetter Trust (di cui Ledbetter 猫 fiduciario). Le partecipazioni di beneficio dopo le rispettive operazioni risultano pari a 1.040.013; 1.030.353; e 1.028.073 azioni di Classe A. Il Modulo 4 猫 stato firmato per procura il 26/08/2025.
Carl Ledbetter, director de Cloudflare, Inc. (NET), inform贸 varias ventas en el mercado abierto de acciones ordinarias Clase A realizadas bajo un plan de negociaci贸n Rule 10b5-1 adoptado el 14 de febrero de 2025. El documento registra tres ventas el 25/08/2025: 3.060 acciones a un precio medio ponderado de $194,8508; 9.660 acciones a $195,8238; y 2.280 acciones a $196,5062. El formulario indica que las acciones vendidas estaban registradas a nombre del Carl S. Ledbetter Trust (Ledbetter act煤a como fideicomisario). La propiedad beneficiaria posterior a las operaciones aparece como 1.040.013; 1.030.353; y 1.028.073 acciones de Clase A tras las respectivas ventas. El Formulario 4 fue firmado por poder el 26/08/2025.
Cloudflare, Inc.(NET)鞚� 鞚挫偓鞚� 旃� 霠堧摐氩犿劙(Carl Ledbetter)電� 2025雲� 2鞗� 14鞚� 毂勴儩霅� Rule 10b5-1 瓯半灅瓿勴殟鞐� 霐半澕 鞐煬 彀鞚� Class A 氤错喌欤� 瓿店皽鞁滌灔 毵る弰毳� 氤搓碃頄堨姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 2025雲� 8鞗� 25鞚� 氤搓碃霅� 靹� 瓯挫潣 毵る弰臧� 旮办灛霅橃柎 鞛堨姷雼堧嫟: 臧�欷戫弶攴犼皜瓴� $194.8508鞐� 3,060欤�, $195.8238鞐� 9,660欤�, $196.5062鞐� 2,280欤�. 頃措嫻 靹滌嫕鞚� 毵る弰霅� 欤检嫕鞚� Carl S. Ledbetter Trust 氇呾潣搿� 氤挫湢霅橃柎 鞛堨棃瓿�(霠堧摐氩犿劙電� 靾橅儊鞛愳瀯) 臧� 毵る弰 頉勳潣 鞁れ 靻岇湢欤� 靾橂姅 臧侁皝 1,040,013欤�, 1,030,353欤�, 1,028,073欤茧 旮办灛霅橃柎 鞛堨潓鞚� 氚濏灆雼堧嫟. Form 4電� 2025雲� 8鞗� 26鞚� 鞙勳瀯鞐� 鞚橅暣 靹滊獏霅橃棃鞀惦媹雼�.
Carl Ledbetter, administrateur de Cloudflare, Inc. (NET), a d茅clar茅 plusieurs ventes en march茅 ouvert d鈥檃ctions ordinaires de classe A ex茅cut茅es dans le cadre d鈥檜n plan de n茅gociation Rule 10b5-1 adopt茅 le 14 f茅vrier 2025. Le d茅p么t mentionne trois ventes d茅clar茅es le 25/08/2025 : 3 060 actions au prix moyen pond茅r茅 de 194,8508 $, 9 660 actions 脿 195,8238 $ et 2 280 actions 脿 196,5062 $. Le formulaire indique que les actions vendues 茅taient d茅tenues au nom du Carl S. Ledbetter Trust (Ledbetter en est le fiduciaire). La participation b茅n茅ficiaire apr猫s transaction est indiqu茅e respectivement 脿 1 040 013 ; 1 030 353 ; et 1 028 073 actions de classe A. Le Formulaire 4 a 茅t茅 sign茅 par procuration le 26/08/2025.
Carl Ledbetter, Direktor von Cloudflare, Inc. (NET), meldete mehrere Verk盲ufe von Class-A-Stammaktien im offenen Markt, die im Rahmen eines Rule-10b5-1-Handelsplans get盲tigt wurden, der am 14. Februar 2025 angenommen wurde. Die Eingabe listet drei gemeldete Verk盲ufe am 25.08.2025 auf: 3.060 Aktien zu einem gewichteten Durchschnittspreis von $194,8508, 9.660 Aktien zu $195,8238 und 2.280 Aktien zu $196,5062. Im Formular hei脽t es, die verkauften Aktien seien im Namen des Carl S. Ledbetter Trust gehalten worden (Ledbetter fungiert als Treuh盲nder). Das wirtschaftliche Eigentum nach den jeweiligen Transaktionen wird mit 1.040.013; 1.030.353; und 1.028.073 Class-A-Aktien angegeben. Das Formular 4 wurde am 26.08.2025 durch eine Vollmacht unterzeichnet.
- Sales executed under a Rule 10b5-1 trading plan, providing an affirmative defense and preplanned framework for the transactions
- Disclosure includes weighted-average prices and price ranges and offers to provide per-price quantities on request, enhancing transparency
- Shares held of record by a trust (Carl S. Ledbetter Trust), with the reporting person serving as trustee, clarifying indirect ownership
- Material disposition of Class A shares reported鈥攖he Form records sales totaling at least 15,000 shares across specified lines and a separate line showing 19,599 shares disposed
- Post-transaction beneficial ownership decreased as shown by reported holdings of 1,040,013; 1,030,353; and 1,028,073 Class A shares following the respective sales
Insights
TL;DR: Director Ledbetter executed planned, disclosed sales under a 10b5-1 plan, reducing his recorded beneficial Class A holdings in staged transactions.
The transactions were explicitly executed pursuant to a Rule 10b5-1 trading plan adopted on February 14, 2025, which provides an affirmative defense against insider trading claims if properly implemented. The filing lists three weighted-average sale prices for 08/25/2025, indicating multiple trades that day rather than a single block sale. Reported post-sale beneficial ownership figures decrease across the reported lines, consistent with the disposals. From an investor-disclosure perspective, the filing is routine and compliant: prices, ranges, and the trustee record are disclosed, and the filer offers to provide detailed per-price quantities on request.
TL;DR: Sales were preplanned and disclosed; governance controls appear followed, with trustee-held shares and power-of-attorney signature.
The Form 4 notes the shares are held of record by the Carl S. Ledbetter Trust dated February 14, 2020, for which the reporting person serves as trustee, clarifying the indirect nature of beneficial ownership. The signature block shows the filing was executed by a power of attorney on 08/26/2025, which is appropriate for insider filings when delegated. The explicit citation of the 10b5-1 plan adoption date and price ranges for multiple transactions strengthens transparency. No additional governance irregularities are stated in the filing.
Carl Ledbetter, amministratore di Cloudflare, Inc. (NET), ha comunicato pi霉 vendite in mercato aperto di azioni ordinarie di Classe A effettuate nell鈥檃mbito di un piano di negoziazione Rule 10b5-1 adottato il 14 febbraio 2025. La comunicazione indica tre vendite registrate il 25/08/2025: 3.060 azioni a un prezzo medio ponderato di $194,8508, 9.660 azioni a $195,8238 e 2.280 azioni a $196,5062. Il modulo dichiara che le azioni vendute erano di propriet脿 registrata del Carl S. Ledbetter Trust (di cui Ledbetter 猫 fiduciario). Le partecipazioni di beneficio dopo le rispettive operazioni risultano pari a 1.040.013; 1.030.353; e 1.028.073 azioni di Classe A. Il Modulo 4 猫 stato firmato per procura il 26/08/2025.
Carl Ledbetter, director de Cloudflare, Inc. (NET), inform贸 varias ventas en el mercado abierto de acciones ordinarias Clase A realizadas bajo un plan de negociaci贸n Rule 10b5-1 adoptado el 14 de febrero de 2025. El documento registra tres ventas el 25/08/2025: 3.060 acciones a un precio medio ponderado de $194,8508; 9.660 acciones a $195,8238; y 2.280 acciones a $196,5062. El formulario indica que las acciones vendidas estaban registradas a nombre del Carl S. Ledbetter Trust (Ledbetter act煤a como fideicomisario). La propiedad beneficiaria posterior a las operaciones aparece como 1.040.013; 1.030.353; y 1.028.073 acciones de Clase A tras las respectivas ventas. El Formulario 4 fue firmado por poder el 26/08/2025.
Cloudflare, Inc.(NET)鞚� 鞚挫偓鞚� 旃� 霠堧摐氩犿劙(Carl Ledbetter)電� 2025雲� 2鞗� 14鞚� 毂勴儩霅� Rule 10b5-1 瓯半灅瓿勴殟鞐� 霐半澕 鞐煬 彀鞚� Class A 氤错喌欤� 瓿店皽鞁滌灔 毵る弰毳� 氤搓碃頄堨姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 2025雲� 8鞗� 25鞚� 氤搓碃霅� 靹� 瓯挫潣 毵る弰臧� 旮办灛霅橃柎 鞛堨姷雼堧嫟: 臧�欷戫弶攴犼皜瓴� $194.8508鞐� 3,060欤�, $195.8238鞐� 9,660欤�, $196.5062鞐� 2,280欤�. 頃措嫻 靹滌嫕鞚� 毵る弰霅� 欤检嫕鞚� Carl S. Ledbetter Trust 氇呾潣搿� 氤挫湢霅橃柎 鞛堨棃瓿�(霠堧摐氩犿劙電� 靾橅儊鞛愳瀯) 臧� 毵る弰 頉勳潣 鞁れ 靻岇湢欤� 靾橂姅 臧侁皝 1,040,013欤�, 1,030,353欤�, 1,028,073欤茧 旮办灛霅橃柎 鞛堨潓鞚� 氚濏灆雼堧嫟. Form 4電� 2025雲� 8鞗� 26鞚� 鞙勳瀯鞐� 鞚橅暣 靹滊獏霅橃棃鞀惦媹雼�.
Carl Ledbetter, administrateur de Cloudflare, Inc. (NET), a d茅clar茅 plusieurs ventes en march茅 ouvert d鈥檃ctions ordinaires de classe A ex茅cut茅es dans le cadre d鈥檜n plan de n茅gociation Rule 10b5-1 adopt茅 le 14 f茅vrier 2025. Le d茅p么t mentionne trois ventes d茅clar茅es le 25/08/2025 : 3 060 actions au prix moyen pond茅r茅 de 194,8508 $, 9 660 actions 脿 195,8238 $ et 2 280 actions 脿 196,5062 $. Le formulaire indique que les actions vendues 茅taient d茅tenues au nom du Carl S. Ledbetter Trust (Ledbetter en est le fiduciaire). La participation b茅n茅ficiaire apr猫s transaction est indiqu茅e respectivement 脿 1 040 013 ; 1 030 353 ; et 1 028 073 actions de classe A. Le Formulaire 4 a 茅t茅 sign茅 par procuration le 26/08/2025.
Carl Ledbetter, Direktor von Cloudflare, Inc. (NET), meldete mehrere Verk盲ufe von Class-A-Stammaktien im offenen Markt, die im Rahmen eines Rule-10b5-1-Handelsplans get盲tigt wurden, der am 14. Februar 2025 angenommen wurde. Die Eingabe listet drei gemeldete Verk盲ufe am 25.08.2025 auf: 3.060 Aktien zu einem gewichteten Durchschnittspreis von $194,8508, 9.660 Aktien zu $195,8238 und 2.280 Aktien zu $196,5062. Im Formular hei脽t es, die verkauften Aktien seien im Namen des Carl S. Ledbetter Trust gehalten worden (Ledbetter fungiert als Treuh盲nder). Das wirtschaftliche Eigentum nach den jeweiligen Transaktionen wird mit 1.040.013; 1.030.353; und 1.028.073 Class-A-Aktien angegeben. Das Formular 4 wurde am 26.08.2025 durch eine Vollmacht unterzeichnet.
FAQ
What did Cloudflare (NET) director Carl Ledbetter report on Form 4?
How many shares and at what prices were sold according to the Form 4?
Was the sale part of a 10b5-1 plan?
Who holds the shares of record?
When was the Form 4 signed and by whom?
