ZATLYN MICHELLE (Chief Operating Officer) sold 61.9% of their position (76.92K shares) of CLOUDFLARE, INC. on the open market

Open‑market sale worth $17.56M — a major position exit. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 23 sales

ZATLYN MICHELLE

Filed: 6/18/2026ACC: 0001786951-26-000010

InsiderZATLYN MICHELLECIK 1786951

→

IssuerCLOUDFLARE, INC.CIK 1477333

DirectorOfficer· Chief Operating Officer

Since Sep 2019

-76.92K

Net shares

Net seller

$17.56M

Total sold

Open market trades

0B · 23S

Total transactions

153.85K acquired · 230.77K disposed

Non-Derivative Transactions26

Class A Common Stock

Indirect

C · Conversion

+25.64K

Price / share

—

Trade value

—

% of position

54.1%

6/16/2026

47.42K→73.07K

Class A Common Stock

Indirect

S · Sale

−3.72K

Price / share

$229.48

Trade value

$853.88K

% of position

5.1%

6/16/2026

73.07K→69.34K

Class A Common Stock

Indirect

S · Sale

−4.67K

Price / share

$230.31

Trade value

$1.08M

% of position

6.7%

6/16/2026

69.34K→64.67K

Class A Common Stock

Indirect

S · Sale

−5.17K

Price / share

$231.25

Trade value

$1.20M

% of position

8.0%

6/16/2026

64.67K→59.50K

Class A Common Stock

Indirect

S · Sale

−1.75K

Price / share

$232.51

Trade value

$405.72K

% of position

2.9%

6/16/2026

59.50K→57.76K

Class A Common Stock

Indirect

S · Sale

−602.00

Price / share

$234.20

Trade value

$140.99K

% of position

1.0%

6/16/2026

57.76K→57.16K

Class A Common Stock

Indirect

S · Sale

−3.13K

Price / share

$235.43

Trade value

$736.89K

% of position

5.5%

6/16/2026

57.16K→54.03K

Class A Common Stock

Indirect

S · Sale

−4.20K

Price / share

$236.73

Trade value

$994.96K

% of position

7.8%

6/16/2026

54.03K→49.82K

Class A Common Stock

Indirect

S · Sale

−2.40K

Price / share

$237.67

Trade value

$569.93K

% of position

4.8%

6/16/2026

49.82K→47.42K

Class A Common Stock

Indirect

C · Conversion

+25.64K

Price / share

—

Trade value

—

% of position

54.1%

6/17/2026

47.42K→73.07K

Class A Common Stock

Indirect

S · Sale

−3.48K

Price / share

$229.91

Trade value

$798.92K

% of position

4.8%

6/17/2026

73.07K→69.59K

Class A Common Stock

Indirect

S · Sale

−4.66K

Price / share

$230.92

Trade value

$1.08M

% of position

6.7%

6/17/2026

69.59K→64.93K

Class A Common Stock

Indirect

S · Sale

−2.94K

Price / share

$231.70

Trade value

$681.21K

% of position

4.5%

6/17/2026

64.93K→61.99K

Class A Common Stock

Indirect

S · Sale

−4.69K

Price / share

$233.14

Trade value

$1.09M

% of position

7.6%

6/17/2026

61.99K→57.30K

Class A Common Stock

Indirect

S · Sale

−5.41K

Price / share

$233.89

Trade value

$1.26M

% of position

9.4%

6/17/2026

57.30K→51.89K

Class A Common Stock

Indirect

S · Sale

−3.28K

Price / share

$235.12

Trade value

$770.95K

% of position

6.3%

6/17/2026

51.89K→48.61K

Class A Common Stock

Indirect

S · Sale

−1.19K

Price / share

$235.68

Trade value

$280.23K

% of position

2.4%

6/17/2026

48.61K→47.42K

Class A Common Stock

Indirect

C · Conversion

+25.64K

Price / share

—

Trade value

—

% of position

54.1%

6/18/2026

47.42K→73.07K

Class A Common Stock

Indirect

S · Sale

−4.65K

Price / share

$216.43

Trade value

$1.01M

% of position

6.4%

6/18/2026

73.07K→68.42K

Class A Common Stock

Indirect

S · Sale

−1.41K

Price / share

$217.46

Trade value

$307.50K

% of position

2.1%

6/18/2026

68.42K→67K

Class A Common Stock

Indirect

S · Sale

−5K

Price / share

$218.54

Trade value

$1.09M

% of position

7.5%

6/18/2026

67K→62K

Class A Common Stock

Indirect

S · Sale

−7.75K

Price / share

$219.44

Trade value

$1.70M

% of position

12.5%

6/18/2026

62K→54.25K

Class A Common Stock

Indirect

S · Sale

−2.91K

Price / share

$220.43

Trade value

$641.89K

% of position

5.4%

6/18/2026

54.25K→51.34K

Class A Common Stock

Indirect

S · Sale

−2.52K

Price / share

$221.56

Trade value

$557.66K

% of position

4.9%

6/18/2026

51.34K→48.82K

Class A Common Stock

Indirect

S · Sale

−1.29K

Price / share

$222.66

Trade value

$288.13K

% of position

2.7%

6/18/2026

48.82K→47.52K

Class A Common Stock

Indirect

S · Sale

−100.00

Price / share

$223.29

Trade value

$22.33K

% of position

0.2%

6/18/2026

47.52K→47.42K

Total

Net shares

+0.00

Net value

-$17.56M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Class A Common Stock Indirect	6/16/2026	C · Conversion	+25.64K	—	—	54.1%	47.42K	73.07K
Class A Common Stock Indirect	6/16/2026	S · Sale	−3.72K	$229.48	$853.88K	5.1%	73.07K	69.34K
Class A Common Stock Indirect	6/16/2026	S · Sale	−4.67K	$230.31	$1.08M	6.7%	69.34K	64.67K
Class A Common Stock Indirect	6/16/2026	S · Sale	−5.17K	$231.25	$1.20M	8.0%	64.67K	59.50K
Class A Common Stock Indirect	6/16/2026	S · Sale	−1.75K	$232.51	$405.72K	2.9%	59.50K	57.76K
Class A Common Stock Indirect	6/16/2026	S · Sale	−602.00	$234.20	$140.99K	1.0%	57.76K	57.16K
Class A Common Stock Indirect	6/16/2026	S · Sale	−3.13K	$235.43	$736.89K	5.5%	57.16K	54.03K
Class A Common Stock Indirect	6/16/2026	S · Sale	−4.20K	$236.73	$994.96K	7.8%	54.03K	49.82K
Class A Common Stock Indirect	6/16/2026	S · Sale	−2.40K	$237.67	$569.93K	4.8%	49.82K	47.42K
Class A Common Stock Indirect	6/17/2026	C · Conversion	+25.64K	—	—	54.1%	47.42K	73.07K
Class A Common Stock Indirect	6/17/2026	S · Sale	−3.48K	$229.91	$798.92K	4.8%	73.07K	69.59K
Class A Common Stock Indirect	6/17/2026	S · Sale	−4.66K	$230.92	$1.08M	6.7%	69.59K	64.93K
Class A Common Stock Indirect	6/17/2026	S · Sale	−2.94K	$231.70	$681.21K	4.5%	64.93K	61.99K
Class A Common Stock Indirect	6/17/2026	S · Sale	−4.69K	$233.14	$1.09M	7.6%	61.99K	57.30K
Class A Common Stock Indirect	6/17/2026	S · Sale	−5.41K	$233.89	$1.26M	9.4%	57.30K	51.89K
Class A Common Stock Indirect	6/17/2026	S · Sale	−3.28K	$235.12	$770.95K	6.3%	51.89K	48.61K
Class A Common Stock Indirect	6/17/2026	S · Sale	−1.19K	$235.68	$280.23K	2.4%	48.61K	47.42K
Class A Common Stock Indirect	6/18/2026	C · Conversion	+25.64K	—	—	54.1%	47.42K	73.07K
Class A Common Stock Indirect	6/18/2026	S · Sale	−4.65K	$216.43	$1.01M	6.4%	73.07K	68.42K
Class A Common Stock Indirect	6/18/2026	S · Sale	−1.41K	$217.46	$307.50K	2.1%	68.42K	67K
Class A Common Stock Indirect	6/18/2026	S · Sale	−5K	$218.54	$1.09M	7.5%	67K	62K
Class A Common Stock Indirect	6/18/2026	S · Sale	−7.75K	$219.44	$1.70M	12.5%	62K	54.25K
Class A Common Stock Indirect	6/18/2026	S · Sale	−2.91K	$220.43	$641.89K	5.4%	54.25K	51.34K
Class A Common Stock Indirect	6/18/2026	S · Sale	−2.52K	$221.56	$557.66K	4.9%	51.34K	48.82K
Class A Common Stock Indirect	6/18/2026	S · Sale	−1.29K	$222.66	$288.13K	2.7%	48.82K	47.52K
Class A Common Stock Indirect	6/18/2026	S · Sale	−100.00	$223.29	$22.33K	0.2%	47.52K	47.42K
Total			+0.00		-$17.56M

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

1.34M

Exercisable

—

6/16/2026

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

—

6/16/2026

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

—

6/16/2026

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

1.31M

Exercisable

—

6/17/2026

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

—

6/17/2026

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

—

6/17/2026

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

1.29M

Exercisable

—

6/18/2026

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

—

6/18/2026

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

—

6/18/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Employee Stock Option (right to buy) Direct	Class B Common Stock25.64K shares	6/16/2026	M · Option Exercise	−25.64K	2.04	—	1.34M
Class B Common Stock Direct	Class A Common Stock25.64K shares	6/16/2026	M · Option Exercise	+25.64K		—	25.64K
Class B Common Stock Direct	Class A Common Stock25.64K shares	6/16/2026	C · Conversion	−25.64K		—	0.00
Employee Stock Option (right to buy) Direct	Class B Common Stock25.64K shares	6/17/2026	M · Option Exercise	−25.64K	2.04	—	1.31M
Class B Common Stock Direct	Class A Common Stock25.64K shares	6/17/2026	M · Option Exercise	+25.64K		—	25.64K
Class B Common Stock Direct	Class A Common Stock25.64K shares	6/17/2026	C · Conversion	−25.64K		—	0.00
Employee Stock Option (right to buy) Direct	Class B Common Stock25.64K shares	6/18/2026	M · Option Exercise	−25.64K	2.04	—	1.29M
Class B Common Stock Direct	Class A Common Stock25.64K shares	6/18/2026	M · Option Exercise	+25.64K		—	25.64K
Class B Common Stock Direct	Class A Common Stock25.64K shares	6/18/2026	C · Conversion	−25.64K		—	0.00

Non-Derivative Holdings (Post-Transaction)2

Class A Common Stock

Direct

Shares owned360.81K

Class A Common Stock

Indirect

Shares owned19.61K

Total

360.81K direct·19.61K indirect380.42K

Security Title	Shares Owned	Ownership Type
Class A Common Stock	360.81K	Direct
Class A Common Stock	19.61K	Indirect
Total	380.42K	360.81K 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

Shares owned

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

4.82K

Shares owned

4.82K

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

250K

Shares owned

250K

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

200K

Shares owned

200K

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

790.66K

Shares owned

790.66K

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	—	—	1M	1M
Class B Common Stock Indirect	Class A Common Stock	—	—	351.50K	351.50K
Class B Common Stock Indirect	Class A Common Stock	—	—	4.82K	4.82K
Class B Common Stock Indirect	Class A Common Stock	—	—	921.73K	921.73K
Class B Common Stock Indirect	Class A Common Stock	—	—	250K	250K
Class B Common Stock Indirect	Class A Common Stock	—	—	2.06M	2.06M
Class B Common Stock Indirect	Class A Common Stock	—	—	200K	200K
Class B Common Stock Indirect	Class A Common Stock	—	—	944.74K	944.74K
Class B Common Stock Indirect	Class A Common Stock	—	—	790.66K	790.66K
Total				7.08M	7.08M