NET Cloudflare, Inc. Insider Trading

Director Carl Ledbetter sells 15,000 shares ($3.7M) at NET via scheduled 10b5-1 plan on 2026-06-01

Carl Ledbetter, a Director, executed 5 separate sales totaling 15,000 shares for $3,690,929.42 through a pre-arranged 10b5-1 trading plan adopted on 2025-02-14. The sales reduced his holdings from 908,073 shares to 893,073 shares, a -1.7% net change. Since the plan is scheduled rather than discretionary, the transaction reflects an automated execution rather than a discretionary decision responding to current market conditions. His prior open-market sales across all tickers show an average 90-day return of -0.3%, while his ticker-specific history at NET spans 5 prior sales with mixed subsequent performance (90-day returns ranging from -0.2% to +12.0%). The company reported FY revenue growth of +29.8% but remains unprofitable, with net income of $-22,927,000.00 over its most recent full fiscal year.

NET CLO Starzak sells 16,243 shares for $3.5M via scheduled 10b5-1 plan; retains 89,999 option shares

Alissa Michelle Starzak, who was Chief Legal Officer at Cloudflare, executed five separate sales totaling 16,243 shares for $3,510,882.12 on 2026-05-28 under a pre-arranged 10b5-1 trading plan adopted on 2026-02-26. Post-transaction, her non-derivative holdings stand at 118,395 shares, while she retains 89,999 shares via performance stock options, representing her broader equity position in the company. The stock has appreciated 24.5% over the past 30 days and 51.4% over the past 90 days, trading at $270.82 versus a 52-week high of $260.00, although the company remains unprofitable with net income of $-22,927,000.00 in its most recent full fiscal year despite annual revenue growth of 29.8%. This scheduled disposition of non-derivative shares does not reflect discretionary timing but rather pre-established contractual execution.

President Michelle Zatlyn sold 86,362 shares across 20 transactions from May 22-27 for $18.3M via scheduled 10b5-1 plan

Michelle Zatlyn, President and Board Co-Chair, executed 20 separate sales totaling 86,362 shares (86.4K shares) for $18,330,473.17 ($18.3M) at an average blended price of $212.25 across May 22–27, 2026. This transaction is part of a pre-arranged 10b5-1 trading plan adopted on 2025-02-14, meaning it is scheduled rather than discretionary. Post-transaction, Zatlyn retains 47,425 shares (47.4K shares) of non-derivative holdings, a 64.6% reduction in her direct stock position, though significant derivative holdings remain (4,246,131 total shares across employee stock options and Class B common stock in multiple ownership vehicles). The current stock price is $209.22, down 19.5% from the 52-week high of $260.00, trading at a 30-day decline of 1.5% but a 90-day gain of 19.8%. The company reported revenue of $639.8M in the latest quarter with a net loss of $22.9M; full-year profitability remains negative despite 29.8% annual revenue growth. Zatlyn's prior five sales at this ticker (all on 2026-04-22) saw modest 30-day returns ranging from 2.2% to 4.1%, while her cross-ticker track record of 20 prior sells averaged a 90-day return of 9.4%.

CEO Matthew Prince sells 157,152 shares ($32.6M) over 3 days via 10b5-1 plan; retains 25,550 shares post-sale.

Matthew Prince executed 24 separate sales totaling 157,152 shares for $32,606,961.57 at a blended average price of $207.49 across May 19–21, 2026, reducing his holdings from 182,702 shares to 25,550 shares. This transaction is part of a pre-arranged 10b5-1 trading plan adopted on 2025-02-11, meaning the sales follow a scheduled schedule rather than reflect discretionary timing. His five prior sales at NET on 2026-04-08 recorded 30-day returns of -11.5%, -11.0%, -8.6%, -8.2%, and -7.4%, with 90-day returns of -5.2%, -4.7%, -2.1%, -1.7%, and -0.7%. Cloudflare reported revenue of $639,755,000.00 in the latest quarter and full-year net income of $-22,927,000.00, with annual revenue growth of +29.8%, placing the company in a growth phase while currently unprofitable.

CFO Thomas J Seifert sells 10,000 shares at NET for $2,006,067.52 under pre-arranged 10b5-1 plan

Thomas J Seifert, Chief Financial Officer, executed 8 separate sales totaling 10,000 shares for $2,006,067.52 on 2026-05-18 under a 10b5-1 trading plan adopted on 2025-11-20, reducing his holdings from 222.0K to 212.0K shares (-4.5%). The transaction is scheduled rather than discretionary per the plan adoption. Seifert's prior sales at NET show 30-day returns of -1.0%, +0.8%, -1.5%, -1.7%, and -0.2%, while 90-day returns from those same trades ranged from +1.1% to +2.9%. At the time of filing, NET trades at $206.73, above the blended sale price of $200.61, and the company reports $639.8M revenue with annual growth of +29.8%, though it posted a net loss of $-22.9M in its latest full fiscal year.

Director Carl Ledbetter sells $3.6M in Cloudflare shares as stock recovers from lows

Carl Ledbetter, a Cloudflare director, sold approximately 15,000 shares in a transaction totaling $3.6 million on May 5, 2026. The timing is noteworthy: the sale occurs as the stock has recovered significantly from its lows and is now trading about 11% below its recent highs—a period when directors often take profits after a meaningful rebound. Ledbetter's track record shows minimal prior trading activity (just one prior sale), so this is not a habitual seller, which adds some weight to the decision to liquidate. However, the company's fundamentals present a complicating picture: despite strong revenue growth, Cloudflare remains unprofitable on both annual and quarterly measures, making this sale during a price recovery potentially a prudent move to diversify rather than a vote of no confidence in the business. The sale size relative to his remaining holdings is modest at roughly 1.6%, suggesting he retains meaningful exposure to the company's future.

Director Ledbetter sells 5,009 NET shares for ~$1.1M; stock down 26% from 52-week high; sixth director sale at this ticker in 36 months.

Carl Ledbetter, a Cloudflare board member, sold approximately 5,000 shares for $1.1 million—a modest 0.5% reduction from his holdings. The stock is currently trading well below its 52-week high, having declined significantly from that peak. This is Ledbetter's sixth open-market sale at Cloudflare over the past three years, extending a pattern of consistent selling activity; across all his holdings, he has conducted 118 open-market sales versus zero purchases in the same 36-month window. His prior five sales at this ticker showed universally well-timed exits at the 30-day mark, with shares falling in every case after he sold. However, timing deteriorates over longer horizons: at 90 days, his prior sells split between well-timed and poorly-timed outcomes, suggesting the stock tends to recover some losses after an initial dip. Cloudflare remains unprofitable on an annual basis despite strong revenue growth, creating a mixed fundamental backdrop where Ledbetter's continued selling may reflect neither conviction nor capitulation, but rather a board director maintaining a steady course of liquidating equity compensation over time. The fact that this sale follows another by just days suggests routine portfolio discipline rather than urgent concern.

Cloudflare director Carl Ledbetter sells ~10k shares worth $2.16M, liquidating a small portion of holdings.

Carl Ledbetter, a Cloudflare director, sold nearly 10,000 shares in a single transaction, reducing his stake by just over 1%. While the dollar value is material at $2.16 million, the modest percentage of total holdings suggests portfolio rebalancing or personal liquidity needs rather than a crisis-level exit. The timing is notable: Cloudflare's stock is trading noticeably below its recent highs and has recovered meaningfully over the past three months, which could reflect a director taking advantage of the rally to lighten a position without panic. Set against the company's unprofitable fundamentals—persistent net losses despite strong revenue growth—the modest sale size suggests Ledbetter isn't fleeing entirely, but it's worth monitoring whether additional directors follow suit or whether this reflects confidence that recent momentum is sustainable at current levels.