ZATLYN MICHELLE (Chief Operating Officer) sold 58.7% of their position (99.01K shares) of CLOUDFLARE, INC. on the open market

Open‑market sale worth $28.29M — a major position exit. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 26 sales

ZATLYN MICHELLE

Filed: 8/21/2026ACC: 0001786951-26-000018

InsiderZATLYN MICHELLECIK 1786951

→

IssuerCLOUDFLARE, INC.CIK 1477333

DirectorOfficer· Chief Operating Officer

Since Sep 2019

-99.01K

Net shares

Net seller

$28.29M

Total sold

Open market trades

0B · 26S

Total transactions

198.02K acquired · 297.03K disposed

Non-Derivative Transactions29

Class A Common Stock

Indirect

C · Conversion

+33K

Price / share

—

Trade value

—

% of position

47.3%

8/19/2026

69.78K→102.78K

Class A Common Stock

Indirect

S · Sale

−4.30K

Price / share

$290.86

Trade value

$1.25M

% of position

4.2%

8/19/2026

102.78K→98.48K

Class A Common Stock

Indirect

S · Sale

−3.97K

Price / share

$291.77

Trade value

$1.16M

% of position

4.0%

8/19/2026

98.48K→94.51K

Class A Common Stock

Indirect

S · Sale

−1.55K

Price / share

$292.87

Trade value

$452.77K

% of position

1.6%

8/19/2026

94.51K→92.96K

Class A Common Stock

Indirect

S · Sale

−1.42K

Price / share

$293.42

Trade value

$416.66K

% of position

1.5%

8/19/2026

92.96K→91.54K

Class A Common Stock

Indirect

S · Sale

−10.60K

Price / share

$295.31

Trade value

$3.13M

% of position

11.6%

8/19/2026

91.54K→80.94K

Class A Common Stock

Indirect

S · Sale

−7.57K

Price / share

$296.31

Trade value

$2.24M

% of position

9.3%

8/19/2026

80.94K→73.37K

Class A Common Stock

Indirect

S · Sale

−1.55K

Price / share

$297.10

Trade value

$461.69K

% of position

2.1%

8/19/2026

73.37K→71.82K

Class A Common Stock

Indirect

S · Sale

−824.00

Price / share

$297.99

Trade value

$245.54K

% of position

1.1%

8/19/2026

71.82K→71K

Class A Common Stock

Indirect

S · Sale

−1.22K

Price / share

$298.98

Trade value

$363.86K

% of position

1.7%

8/19/2026

71K→69.78K

Class A Common Stock

Indirect

S · Sale

−3.00

Price / share

$300.83

Trade value

$902.50

% of position

0.0%

8/19/2026

69.78K→69.78K

Class A Common Stock

Indirect

C · Conversion

+33K

Price / share

—

Trade value

—

% of position

47.3%

8/20/2026

69.78K→102.78K

Class A Common Stock

Indirect

S · Sale

−7.01K

Price / share

$283.21

Trade value

$1.98M

% of position

6.8%

8/20/2026

102.78K→95.77K

Class A Common Stock

Indirect

S · Sale

−8.65K

Price / share

$284.05

Trade value

$2.46M

% of position

9.0%

8/20/2026

95.77K→87.13K

Class A Common Stock

Indirect

S · Sale

−8.47K

Price / share

$285.16

Trade value

$2.41M

% of position

9.7%

8/20/2026

87.13K→78.66K

Class A Common Stock

Indirect

S · Sale

−3.11K

Price / share

$286.10

Trade value

$889.48K

% of position

4.0%

8/20/2026

78.66K→75.55K

Class A Common Stock

Indirect

S · Sale

−2.33K

Price / share

$287.00

Trade value

$670.15K

% of position

3.1%

8/20/2026

75.55K→73.21K

Class A Common Stock

Indirect

S · Sale

−2.54K

Price / share

$288.01

Trade value

$732.70K

% of position

3.5%

8/20/2026

73.21K→70.67K

Class A Common Stock

Indirect

S · Sale

−136.00

Price / share

$289.30

Trade value

$39.35K

% of position

0.2%

8/20/2026

70.67K→70.53K

Class A Common Stock

Indirect

S · Sale

−759.00

Price / share

$291.80

Trade value

$221.48K

% of position

1.1%

8/20/2026

70.53K→69.78K

Class A Common Stock

Indirect

C · Conversion

+33K

Price / share

—

Trade value

—

% of position

47.3%

8/21/2026

69.78K→102.78K

Class A Common Stock

Indirect

S · Sale

−2.21K

Price / share

$274.47

Trade value

$605.49K

% of position

2.1%

8/21/2026

102.78K→100.57K

Class A Common Stock

Indirect

S · Sale

−8.99K

Price / share

$275.66

Trade value

$2.48M

% of position

8.9%

8/21/2026

100.57K→91.58K

Class A Common Stock

Indirect

S · Sale

−4.24K

Price / share

$276.67

Trade value

$1.17M

% of position

4.6%

8/21/2026

91.58K→87.35K

Class A Common Stock

Indirect

S · Sale

−5.64K

Price / share

$277.95

Trade value

$1.57M

% of position

6.5%

8/21/2026

87.35K→81.70K

Class A Common Stock

Indirect

S · Sale

−5.62K

Price / share

$278.78

Trade value

$1.57M

% of position

6.9%

8/21/2026

81.70K→76.08K

Class A Common Stock

Indirect

S · Sale

−5.26K

Price / share

$279.72

Trade value

$1.47M

% of position

6.9%

8/21/2026

76.08K→70.82K

Class A Common Stock

Indirect

S · Sale

−956.00

Price / share

$280.42

Trade value

$268.08K

% of position

1.3%

8/21/2026

70.82K→69.86K

Class A Common Stock

Indirect

S · Sale

−90.00

Price / share

$281.31

Trade value

$25.32K

% of position

0.1%

8/21/2026

69.86K→69.78K

Total

Net shares

+0.00

Net value

-$28.29M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Class A Common Stock Indirect	8/19/2026	C · Conversion	+33K	—	—	47.3%	69.78K	102.78K
Class A Common Stock Indirect	8/19/2026	S · Sale	−4.30K	$290.86	$1.25M	4.2%	102.78K	98.48K
Class A Common Stock Indirect	8/19/2026	S · Sale	−3.97K	$291.77	$1.16M	4.0%	98.48K	94.51K
Class A Common Stock Indirect	8/19/2026	S · Sale	−1.55K	$292.87	$452.77K	1.6%	94.51K	92.96K
Class A Common Stock Indirect	8/19/2026	S · Sale	−1.42K	$293.42	$416.66K	1.5%	92.96K	91.54K
Class A Common Stock Indirect	8/19/2026	S · Sale	−10.60K	$295.31	$3.13M	11.6%	91.54K	80.94K
Class A Common Stock Indirect	8/19/2026	S · Sale	−7.57K	$296.31	$2.24M	9.3%	80.94K	73.37K
Class A Common Stock Indirect	8/19/2026	S · Sale	−1.55K	$297.10	$461.69K	2.1%	73.37K	71.82K
Class A Common Stock Indirect	8/19/2026	S · Sale	−824.00	$297.99	$245.54K	1.1%	71.82K	71K
Class A Common Stock Indirect	8/19/2026	S · Sale	−1.22K	$298.98	$363.86K	1.7%	71K	69.78K
Class A Common Stock Indirect	8/19/2026	S · Sale	−3.00	$300.83	$902.50	0.0%	69.78K	69.78K
Class A Common Stock Indirect	8/20/2026	C · Conversion	+33K	—	—	47.3%	69.78K	102.78K
Class A Common Stock Indirect	8/20/2026	S · Sale	−7.01K	$283.21	$1.98M	6.8%	102.78K	95.77K
Class A Common Stock Indirect	8/20/2026	S · Sale	−8.65K	$284.05	$2.46M	9.0%	95.77K	87.13K
Class A Common Stock Indirect	8/20/2026	S · Sale	−8.47K	$285.16	$2.41M	9.7%	87.13K	78.66K
Class A Common Stock Indirect	8/20/2026	S · Sale	−3.11K	$286.10	$889.48K	4.0%	78.66K	75.55K
Class A Common Stock Indirect	8/20/2026	S · Sale	−2.33K	$287.00	$670.15K	3.1%	75.55K	73.21K
Class A Common Stock Indirect	8/20/2026	S · Sale	−2.54K	$288.01	$732.70K	3.5%	73.21K	70.67K
Class A Common Stock Indirect	8/20/2026	S · Sale	−136.00	$289.30	$39.35K	0.2%	70.67K	70.53K
Class A Common Stock Indirect	8/20/2026	S · Sale	−759.00	$291.80	$221.48K	1.1%	70.53K	69.78K
Class A Common Stock Indirect	8/21/2026	C · Conversion	+33K	—	—	47.3%	69.78K	102.78K
Class A Common Stock Indirect	8/21/2026	S · Sale	−2.21K	$274.47	$605.49K	2.1%	102.78K	100.57K
Class A Common Stock Indirect	8/21/2026	S · Sale	−8.99K	$275.66	$2.48M	8.9%	100.57K	91.58K
Class A Common Stock Indirect	8/21/2026	S · Sale	−4.24K	$276.67	$1.17M	4.6%	91.58K	87.35K
Class A Common Stock Indirect	8/21/2026	S · Sale	−5.64K	$277.95	$1.57M	6.5%	87.35K	81.70K
Class A Common Stock Indirect	8/21/2026	S · Sale	−5.62K	$278.78	$1.57M	6.9%	81.70K	76.08K
Class A Common Stock Indirect	8/21/2026	S · Sale	−5.26K	$279.72	$1.47M	6.9%	76.08K	70.82K
Class A Common Stock Indirect	8/21/2026	S · Sale	−956.00	$280.42	$268.08K	1.3%	70.82K	69.86K
Class A Common Stock Indirect	8/21/2026	S · Sale	−90.00	$281.31	$25.32K	0.1%	69.86K	69.78K
Total			+0.00		-$28.29M

Derivative Transactions9

Employee Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Class B Common Stock

33K shares

−33K

Strike price

2.04

Held after

1.16M

Exercisable

—

8/19/2026

Class B Common Stock

Direct

M · Option Exercise

Converts to

Class A Common Stock

33K shares

+33K

Strike price

Held after

33K

Exercisable

—

8/19/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

33K shares

−33K

Strike price

Held after

0.00

Exercisable

—

8/19/2026

Employee Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Class B Common Stock

33K shares

−33K

Strike price

2.04

Held after

1.12M

Exercisable

—

8/20/2026

Class B Common Stock

Direct

M · Option Exercise

Converts to

Class A Common Stock

33K shares

+33K

Strike price

Held after

33K

Exercisable

—

8/20/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

33K shares

−33K

Strike price

Held after

0.00

Exercisable

—

8/20/2026

Employee Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Class B Common Stock

33K shares

−33K

Strike price

2.04

Held after

1.09M

Exercisable

—

8/21/2026

Class B Common Stock

Direct

M · Option Exercise

Converts to

Class A Common Stock

33K shares

+33K

Strike price

Held after

33K

Exercisable

—

8/21/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

33K shares

−33K

Strike price

Held after

0.00

Exercisable

—

8/21/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Employee Stock Option (right to buy) Direct	Class B Common Stock33K shares	8/19/2026	M · Option Exercise	−33K	2.04	—	1.16M
Class B Common Stock Direct	Class A Common Stock33K shares	8/19/2026	M · Option Exercise	+33K		—	33K
Class B Common Stock Direct	Class A Common Stock33K shares	8/19/2026	C · Conversion	−33K		—	0.00
Employee Stock Option (right to buy) Direct	Class B Common Stock33K shares	8/20/2026	M · Option Exercise	−33K	2.04	—	1.12M
Class B Common Stock Direct	Class A Common Stock33K shares	8/20/2026	M · Option Exercise	+33K		—	33K
Class B Common Stock Direct	Class A Common Stock33K shares	8/20/2026	C · Conversion	−33K		—	0.00
Employee Stock Option (right to buy) Direct	Class B Common Stock33K shares	8/21/2026	M · Option Exercise	−33K	2.04	—	1.09M
Class B Common Stock Direct	Class A Common Stock33K shares	8/21/2026	M · Option Exercise	+33K		—	33K
Class B Common Stock Direct	Class A Common Stock33K shares	8/21/2026	C · Conversion	−33K		—	0.00

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)10

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

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

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

2.06M

Shares owned

2.06M

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

—

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

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	—	—	200K	200K
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	—	—	552.44K	552.44K
Class B Common Stock Indirect	Class A Common Stock	—	—	1M	1M
Class B Common Stock Indirect	Class A Common Stock	—	—	2.06M	2.06M
Class B Common Stock Indirect	Class A Common Stock	—	—	250K	250K
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	—	—	790.66K	790.66K
Total				7.08M	7.08M