Cloudflare, Inc. — Director's Dealing 2026

Mar 18, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Cloudflare, Inc. (NET)
CIK: 0001477333
Period of Report: 2026-03-15

Reporting Person: SEIFERT THOMAS J (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-03-15	Class A Common Stock	F	2943	$212.45	Disposed	224625	Direct
2026-03-17	Class A Common Stock	C	10341	—	Acquired	234966	Direct
2026-03-17	Class A Common Stock	S	200	$207.68	Disposed	234766	Direct
2026-03-17	Class A Common Stock	S	100	$208.64	Disposed	234666	Direct
2026-03-17	Class A Common Stock	S	3041	$211.689	Disposed	231625	Direct
2026-03-17	Class A Common Stock	S	5000	$212.5662	Disposed	226625	Direct
2026-03-17	Class A Common Stock	S	2000	$213.2323	Disposed	224625	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-03-17	Employee Stock Option (right to buy)	$2.04	M	10341	Disposed	2027-07-25	Class B Common Stock (10341)	Direct
2026-03-17	Class B Common Stock	$	M	10341	Acquired		Class A Common Stock (10341)	Direct
2026-03-17	Class B Common Stock	$	C	10341	Disposed		Class A Common Stock (10341)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Common Stock	$		Class A Common Stock (150000)	150000	Indirect
Class B Common Stock	$		Class A Common Stock (46100)	46100	Indirect
Class B Common Stock	$		Class A Common Stock (46100)	46100	Indirect
Class B Common Stock	$		Class A Common Stock (46100)	46100	Indirect

Footnotes

F1: The shares were withheld to satisfy the reporting person's tax liability in connection with the vesting of restricted stock units, or RSUs.

F2: Each share of Class B Common Stock is convertible at any time into Class A Common Stock on a one-to-one basis at the reporting person's election and has no expiration date.

F3: 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.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $207.32 to $208.04, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (4) through (7) to this Form 4.

F5: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $211.02 to $212.00, inclusive.

F6: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $212.03 to $213.02, inclusive.

F7: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $213.03 to $213.80, inclusive.

F8: Shares subject to the option are fully vested and immediately exercisable.

F9: The shares are held of record by Center Court Partners Ltd., for which the reporting person serves as a partner.

F10: The shares are held of record by Center Court 2020 Trust 1 UA 12/11/20, for which the reporting person serves as trustee.

F11: The shares are held of record by Center Court 2020 Trust 2 UA 12/11/20, for which the reporting person serves as trustee.

F12: The shares are held of record by Center Court 2020 Trust 3 UA 12/11/20, for which the reporting person serves as trustee.