ZATLYN MICHELLE (Chief Operating Officer) sold 69.0% of their position (76.92K shares) of CLOUDFLARE, INC. on the open market

Open‑market sale worth $15.76M — a major position exit. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 14 sales

ZATLYN MICHELLE

Filed: 4/22/2026ACC: 0001104659-26-047010

InsiderZATLYN MICHELLECIK 1786951

→

IssuerCLOUDFLARE, INC.CIK 1477333

DirectorOfficer· Chief Operating Officer

Since Sep 2019

-76.92K

Net shares

Net seller

$15.76M

Total sold

Open market trades

0B · 14S

Total transactions

153.85K acquired · 230.77K disposed

Non-Derivative Transactions17

Class A Common Stock

Indirect

C · Conversion

+25.64K

Price / share

—

Trade value

—

% of position

74.3%

4/20/2026

34.51K→60.16K

Class A Common Stock

Indirect

S · Sale

−3.22K

Price / share

$195.86

Trade value

$631.07K

% of position

5.4%

4/20/2026

60.16K→56.93K

Class A Common Stock

Indirect

S · Sale

−709.00

Price / share

$197.08

Trade value

$139.73K

% of position

1.2%

4/20/2026

56.93K→56.22K

Class A Common Stock

Indirect

S · Sale

−3.80K

Price / share

$198.13

Trade value

$753.48K

% of position

6.8%

4/20/2026

56.22K→52.42K

Class A Common Stock

Indirect

S · Sale

−3.88K

Price / share

$199.19

Trade value

$772.24K

% of position

7.4%

4/20/2026

52.42K→48.54K

Class A Common Stock

Indirect

S · Sale

−8.11K

Price / share

$200.39

Trade value

$1.62M

% of position

16.7%

4/20/2026

48.54K→40.44K

Class A Common Stock

Indirect

S · Sale

−5.92K

Price / share

$201.08

Trade value

$1.19M

% of position

14.6%

4/20/2026

40.44K→34.51K

Class A Common Stock

Indirect

C · Conversion

+25.64K

Price / share

—

Trade value

—

% of position

74.3%

4/21/2026

34.51K→60.16K

Class A Common Stock

Indirect

S · Sale

−7.91K

Price / share

$205.44

Trade value

$1.62M

% of position

13.1%

4/21/2026

60.16K→52.25K

Class A Common Stock

Indirect

S · Sale

−15K

Price / share

$206.28

Trade value

$3.09M

% of position

28.7%

4/21/2026

52.25K→37.24K

Class A Common Stock

Indirect

S · Sale

−2.73K

Price / share

$207.03

Trade value

$565.40K

% of position

7.3%

4/21/2026

37.24K→34.51K

Class A Common Stock

Indirect

C · Conversion

+25.64K

Price / share

—

Trade value

—

% of position

74.3%

4/22/2026

34.51K→60.16K

Class A Common Stock

Indirect

S · Sale

−6.22K

Price / share

$207.71

Trade value

$1.29M

% of position

10.3%

4/22/2026

60.16K→53.93K

Class A Common Stock

Indirect

S · Sale

−8.44K

Price / share

$208.75

Trade value

$1.76M

% of position

15.7%

4/22/2026

53.93K→45.49K

Class A Common Stock

Indirect

S · Sale

−6.58K

Price / share

$209.80

Trade value

$1.38M

% of position

14.5%

4/22/2026

45.49K→38.91K

Class A Common Stock

Indirect

S · Sale

−2.97K

Price / share

$210.70

Trade value

$625.58K

% of position

7.6%

4/22/2026

38.91K→35.94K

Class A Common Stock

Indirect

S · Sale

−1.43K

Price / share

$211.59

Trade value

$301.73K

% of position

4.0%

4/22/2026

35.94K→34.51K

Total

Net shares

+0.00

Net value

-$15.76M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Class A Common Stock Indirect	4/20/2026	C · Conversion	+25.64K	—	—	74.3%	34.51K	60.16K
Class A Common Stock Indirect	4/20/2026	S · Sale	−3.22K	$195.86	$631.07K	5.4%	60.16K	56.93K
Class A Common Stock Indirect	4/20/2026	S · Sale	−709.00	$197.08	$139.73K	1.2%	56.93K	56.22K
Class A Common Stock Indirect	4/20/2026	S · Sale	−3.80K	$198.13	$753.48K	6.8%	56.22K	52.42K
Class A Common Stock Indirect	4/20/2026	S · Sale	−3.88K	$199.19	$772.24K	7.4%	52.42K	48.54K
Class A Common Stock Indirect	4/20/2026	S · Sale	−8.11K	$200.39	$1.62M	16.7%	48.54K	40.44K
Class A Common Stock Indirect	4/20/2026	S · Sale	−5.92K	$201.08	$1.19M	14.6%	40.44K	34.51K
Class A Common Stock Indirect	4/21/2026	C · Conversion	+25.64K	—	—	74.3%	34.51K	60.16K
Class A Common Stock Indirect	4/21/2026	S · Sale	−7.91K	$205.44	$1.62M	13.1%	60.16K	52.25K
Class A Common Stock Indirect	4/21/2026	S · Sale	−15K	$206.28	$3.09M	28.7%	52.25K	37.24K
Class A Common Stock Indirect	4/21/2026	S · Sale	−2.73K	$207.03	$565.40K	7.3%	37.24K	34.51K
Class A Common Stock Indirect	4/22/2026	C · Conversion	+25.64K	—	—	74.3%	34.51K	60.16K
Class A Common Stock Indirect	4/22/2026	S · Sale	−6.22K	$207.71	$1.29M	10.3%	60.16K	53.93K
Class A Common Stock Indirect	4/22/2026	S · Sale	−8.44K	$208.75	$1.76M	15.7%	53.93K	45.49K
Class A Common Stock Indirect	4/22/2026	S · Sale	−6.58K	$209.80	$1.38M	14.5%	45.49K	38.91K
Class A Common Stock Indirect	4/22/2026	S · Sale	−2.97K	$210.70	$625.58K	7.6%	38.91K	35.94K
Class A Common Stock Indirect	4/22/2026	S · Sale	−1.43K	$211.59	$301.73K	4.0%	35.94K	34.51K
Total			+0.00		-$15.76M

Derivative Transactions9

Employee Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Class B Common Stock

25.64K shares

−25.64K

Strike price

2.04

Held after

1.49M

Exercisable

—

4/20/2026

Class B Common Stock

Direct

M · Option Exercise

Converts to

Class A Common Stock

25.64K shares

+25.64K

Strike price

Held after

25.64K

Exercisable

—

4/20/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

25.64K shares

−25.64K

Strike price

Held after

0.00

Exercisable

—

4/20/2026

Employee Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Class B Common Stock

25.64K shares

−25.64K

Strike price

2.04

Held after

1.47M

Exercisable

—

4/21/2026

Class B Common Stock

Direct

M · Option Exercise

Converts to

Class A Common Stock

25.64K shares

+25.64K

Strike price

Held after

25.64K

Exercisable

—

4/21/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

25.64K shares

−25.64K

Strike price

Held after

0.00

Exercisable

—

4/21/2026

Employee Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Class B Common Stock

25.64K shares

−25.64K

Strike price

2.04

Held after

1.44M

Exercisable

—

4/22/2026

Class B Common Stock

Direct

M · Option Exercise

Converts to

Class A Common Stock

25.64K shares

+25.64K

Strike price

Held after

25.64K

Exercisable

—

4/22/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

25.64K shares

−25.64K

Strike price

Held after

0.00

Exercisable

—

4/22/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Employee Stock Option (right to buy) Direct	Class B Common Stock25.64K shares	4/20/2026	M · Option Exercise	−25.64K	2.04	—	1.49M
Class B Common Stock Direct	Class A Common Stock25.64K shares	4/20/2026	M · Option Exercise	+25.64K		—	25.64K
Class B Common Stock Direct	Class A Common Stock25.64K shares	4/20/2026	C · Conversion	−25.64K		—	0.00
Employee Stock Option (right to buy) Direct	Class B Common Stock25.64K shares	4/21/2026	M · Option Exercise	−25.64K	2.04	—	1.47M
Class B Common Stock Direct	Class A Common Stock25.64K shares	4/21/2026	M · Option Exercise	+25.64K		—	25.64K
Class B Common Stock Direct	Class A Common Stock25.64K shares	4/21/2026	C · Conversion	−25.64K		—	0.00
Employee Stock Option (right to buy) Direct	Class B Common Stock25.64K shares	4/22/2026	M · Option Exercise	−25.64K	2.04	—	1.44M
Class B Common Stock Direct	Class A Common Stock25.64K shares	4/22/2026	M · Option Exercise	+25.64K		—	25.64K
Class B Common Stock Direct	Class A Common Stock25.64K shares	4/22/2026	C · Conversion	−25.64K		—	0.00

Non-Derivative Holdings (Post-Transaction)2

Class A Common Stock

Direct

Shares owned406.31K

Class A Common Stock

Indirect

Shares owned19.61K

Total

406.31K direct·19.61K indirect425.93K

Security Title	Shares Owned	Ownership Type
Class A Common Stock	406.31K	Direct
Class A Common Stock	19.61K	Indirect
Total	425.93K	406.31K direct·19.61K indirect

Derivative Holdings (Post-Transaction)10

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

552.44K

Shares owned

552.44K

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

790.66K

Shares owned

790.66K

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

2.06M

Shares owned

2.06M

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

Shares owned

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

921.73K

Shares owned

921.73K

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

351.50K

Shares owned

351.50K

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

944.74K

Shares owned

944.74K

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

200K

Shares owned

200K

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

250K

Shares owned

250K

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

4.82K

Shares owned

4.82K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

7.08M

Owned

7.08M

Security	Underlying	Exercise Window	Expiration	Underlying Shares	Shares Owned
Class B Common Stock Indirect	Class A Common Stock	—	—	552.44K	552.44K
Class B Common Stock Indirect	Class A Common Stock	—	—	790.66K	790.66K
Class B Common Stock Indirect	Class A Common Stock	—	—	2.06M	2.06M
Class B Common Stock Indirect	Class A Common Stock	—	—	1M	1M
Class B Common Stock Indirect	Class A Common Stock	—	—	921.73K	921.73K
Class B Common Stock Indirect	Class A Common Stock	—	—	351.50K	351.50K
Class B Common Stock Indirect	Class A Common Stock	—	—	944.74K	944.74K
Class B Common Stock Indirect	Class A Common Stock	—	—	200K	200K
Class B Common Stock Indirect	Class A Common Stock	—	—	250K	250K
Class B Common Stock Indirect	Class A Common Stock	—	—	4.82K	4.82K
Total				7.08M	7.08M