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 $35.24M — a major position exit. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 21 sales

ZATLYN MICHELLE

Filed: 10/8/2026ACC: 0001786951-26-000025

InsiderZATLYN MICHELLECIK 1786951

→

IssuerCLOUDFLARE, INC.CIK 1477333

DirectorOfficer· Chief Operating Officer

Since Sep 2019

-99.01K

Net shares

Net seller

$35.24M

Total sold

Open market trades

0B · 21S

Total transactions

198.02K acquired · 297.03K disposed

Non-Derivative Transactions24

Class A Common Stock

Indirect

C · Conversion

+33K

Price / share

—

Trade value

—

% of position

47.3%

10/5/2026

69.78K→102.78K

Class A Common Stock

Indirect

S · Sale

−3.62K

Price / share

$349.07

Trade value

$1.26M

% of position

3.5%

10/5/2026

102.78K→99.16K

Class A Common Stock

Indirect

S · Sale

−2.68K

Price / share

$350.09

Trade value

$939.29K

% of position

2.7%

10/5/2026

99.16K→96.48K

Class A Common Stock

Indirect

S · Sale

−4.83K

Price / share

$351.30

Trade value

$1.70M

% of position

5.0%

10/5/2026

96.48K→91.65K

Class A Common Stock

Indirect

S · Sale

−6.86K

Price / share

$352.39

Trade value

$2.42M

% of position

7.5%

10/5/2026

91.65K→84.78K

Class A Common Stock

Indirect

S · Sale

−5.89K

Price / share

$353.35

Trade value

$2.08M

% of position

6.9%

10/5/2026

84.78K→78.89K

Class A Common Stock

Indirect

S · Sale

−2.82K

Price / share

$354.32

Trade value

$1M

% of position

3.6%

10/5/2026

78.89K→76.07K

Class A Common Stock

Indirect

S · Sale

−6.14K

Price / share

$355.45

Trade value

$2.18M

% of position

8.1%

10/5/2026

76.07K→69.93K

Class A Common Stock

Indirect

S · Sale

−157.00

Price / share

$356.05

Trade value

$55.90K

% of position

0.2%

10/5/2026

69.93K→69.78K

Class A Common Stock

Indirect

C · Conversion

+33K

Price / share

—

Trade value

—

% of position

47.3%

10/6/2026

69.78K→102.78K

Class A Common Stock

Indirect

S · Sale

−4.26K

Price / share

$364.39

Trade value

$1.55M

% of position

4.1%

10/6/2026

102.78K→98.52K

Class A Common Stock

Indirect

S · Sale

−6.18K

Price / share

$365.69

Trade value

$2.26M

% of position

6.3%

10/6/2026

98.52K→92.34K

Class A Common Stock

Indirect

S · Sale

−9.17K

Price / share

$366.65

Trade value

$3.36M

% of position

9.9%

10/6/2026

92.34K→83.17K

Class A Common Stock

Indirect

S · Sale

−8.56K

Price / share

$367.72

Trade value

$3.15M

% of position

10.3%

10/6/2026

83.17K→74.61K

Class A Common Stock

Indirect

S · Sale

−4.08K

Price / share

$368.59

Trade value

$1.50M

% of position

5.5%

10/6/2026

74.61K→70.53K

Class A Common Stock

Indirect

S · Sale

−752.00

Price / share

$369.34

Trade value

$277.74K

% of position

1.1%

10/6/2026

70.53K→69.78K

Class A Common Stock

Indirect

C · Conversion

+33K

Price / share

—

Trade value

—

% of position

47.3%

10/7/2026

69.78K→102.78K

Class A Common Stock

Indirect

S · Sale

−5.69K

Price / share

$346.40

Trade value

$1.97M

% of position

5.5%

10/7/2026

102.78K→97.08K

Class A Common Stock

Indirect

S · Sale

−9.02K

Price / share

$347.20

Trade value

$3.13M

% of position

9.3%

10/7/2026

97.08K→88.06K

Class A Common Stock

Indirect

S · Sale

−7.69K

Price / share

$348.23

Trade value

$2.68M

% of position

8.7%

10/7/2026

88.06K→80.37K

Class A Common Stock

Indirect

S · Sale

−3.90K

Price / share

$349.38

Trade value

$1.36M

% of position

4.9%

10/7/2026

80.37K→76.47K

Class A Common Stock

Indirect

S · Sale

−4.24K

Price / share

$350.37

Trade value

$1.49M

% of position

5.5%

10/7/2026

76.47K→72.23K

Class A Common Stock

Indirect

S · Sale

−2.16K

Price / share

$351.40

Trade value

$759.73K

% of position

3.0%

10/7/2026

72.23K→70.07K

Class A Common Stock

Indirect

S · Sale

−297.00

Price / share

$352.25

Trade value

$104.62K

% of position

0.4%

10/7/2026

70.07K→69.78K

Total

Net shares

+0.00

Net value

-$35.24M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Class A Common Stock Indirect	10/5/2026	C · Conversion	+33K	—	—	47.3%	69.78K	102.78K
Class A Common Stock Indirect	10/5/2026	S · Sale	−3.62K	$349.07	$1.26M	3.5%	102.78K	99.16K
Class A Common Stock Indirect	10/5/2026	S · Sale	−2.68K	$350.09	$939.29K	2.7%	99.16K	96.48K
Class A Common Stock Indirect	10/5/2026	S · Sale	−4.83K	$351.30	$1.70M	5.0%	96.48K	91.65K
Class A Common Stock Indirect	10/5/2026	S · Sale	−6.86K	$352.39	$2.42M	7.5%	91.65K	84.78K
Class A Common Stock Indirect	10/5/2026	S · Sale	−5.89K	$353.35	$2.08M	6.9%	84.78K	78.89K
Class A Common Stock Indirect	10/5/2026	S · Sale	−2.82K	$354.32	$1M	3.6%	78.89K	76.07K
Class A Common Stock Indirect	10/5/2026	S · Sale	−6.14K	$355.45	$2.18M	8.1%	76.07K	69.93K
Class A Common Stock Indirect	10/5/2026	S · Sale	−157.00	$356.05	$55.90K	0.2%	69.93K	69.78K
Class A Common Stock Indirect	10/6/2026	C · Conversion	+33K	—	—	47.3%	69.78K	102.78K
Class A Common Stock Indirect	10/6/2026	S · Sale	−4.26K	$364.39	$1.55M	4.1%	102.78K	98.52K
Class A Common Stock Indirect	10/6/2026	S · Sale	−6.18K	$365.69	$2.26M	6.3%	98.52K	92.34K
Class A Common Stock Indirect	10/6/2026	S · Sale	−9.17K	$366.65	$3.36M	9.9%	92.34K	83.17K
Class A Common Stock Indirect	10/6/2026	S · Sale	−8.56K	$367.72	$3.15M	10.3%	83.17K	74.61K
Class A Common Stock Indirect	10/6/2026	S · Sale	−4.08K	$368.59	$1.50M	5.5%	74.61K	70.53K
Class A Common Stock Indirect	10/6/2026	S · Sale	−752.00	$369.34	$277.74K	1.1%	70.53K	69.78K
Class A Common Stock Indirect	10/7/2026	C · Conversion	+33K	—	—	47.3%	69.78K	102.78K
Class A Common Stock Indirect	10/7/2026	S · Sale	−5.69K	$346.40	$1.97M	5.5%	102.78K	97.08K
Class A Common Stock Indirect	10/7/2026	S · Sale	−9.02K	$347.20	$3.13M	9.3%	97.08K	88.06K
Class A Common Stock Indirect	10/7/2026	S · Sale	−7.69K	$348.23	$2.68M	8.7%	88.06K	80.37K
Class A Common Stock Indirect	10/7/2026	S · Sale	−3.90K	$349.38	$1.36M	4.9%	80.37K	76.47K
Class A Common Stock Indirect	10/7/2026	S · Sale	−4.24K	$350.37	$1.49M	5.5%	76.47K	72.23K
Class A Common Stock Indirect	10/7/2026	S · Sale	−2.16K	$351.40	$759.73K	3.0%	72.23K	70.07K
Class A Common Stock Indirect	10/7/2026	S · Sale	−297.00	$352.25	$104.62K	0.4%	70.07K	69.78K
Total			+0.00		-$35.24M

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

957.09K

Exercisable

—

10/5/2026

Class B Common Stock

Direct

M · Option Exercise

Converts to

Class A Common Stock

33K shares

+33K

Strike price

Held after

33K

Exercisable

—

10/5/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

33K shares

−33K

Strike price

Held after

0.00

Exercisable

—

10/5/2026

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

924.08K

Exercisable

—

10/6/2026

Class B Common Stock

Direct

M · Option Exercise

Converts to

Class A Common Stock

33K shares

+33K

Strike price

Held after

33K

Exercisable

—

10/6/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

33K shares

−33K

Strike price

Held after

0.00

Exercisable

—

10/6/2026

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

891.08K

Exercisable

—

10/7/2026

Class B Common Stock

Direct

M · Option Exercise

Converts to

Class A Common Stock

33K shares

+33K

Strike price

Held after

33K

Exercisable

—

10/7/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

33K shares

−33K

Strike price

Held after

0.00

Exercisable

—

10/7/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Employee Stock Option (right to buy) Direct	Class B Common Stock33K shares	10/5/2026	M · Option Exercise	−33K	2.04	—	957.09K
Class B Common Stock Direct	Class A Common Stock33K shares	10/5/2026	M · Option Exercise	+33K		—	33K
Class B Common Stock Direct	Class A Common Stock33K shares	10/5/2026	C · Conversion	−33K		—	0.00
Employee Stock Option (right to buy) Direct	Class B Common Stock33K shares	10/6/2026	M · Option Exercise	−33K	2.04	—	924.08K
Class B Common Stock Direct	Class A Common Stock33K shares	10/6/2026	M · Option Exercise	+33K		—	33K
Class B Common Stock Direct	Class A Common Stock33K shares	10/6/2026	C · Conversion	−33K		—	0.00
Employee Stock Option (right to buy) Direct	Class B Common Stock33K shares	10/7/2026	M · Option Exercise	−33K	2.04	—	891.08K
Class B Common Stock Direct	Class A Common Stock33K shares	10/7/2026	M · Option Exercise	+33K		—	33K
Class B Common Stock Direct	Class A Common Stock33K shares	10/7/2026	C · Conversion	−33K		—	0.00

Non-Derivative Holdings (Post-Transaction)2

Class A Common Stock

Direct

Shares owned315.30K

Class A Common Stock

Indirect

Shares owned19.61K

Total

315.30K direct·19.61K indirect334.92K

Security Title	Shares Owned	Ownership Type
Class A Common Stock	315.30K	Direct
Class A Common Stock	19.61K	Indirect
Total	334.92K	315.30K direct·19.61K indirect

Derivative Holdings (Post-Transaction)12

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

716.99K

Shares owned

716.99K

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

0.00

Shares owned

0.00

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

1.47M

Shares owned

1.47M

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

351.50K

Shares owned

351.50K

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

0.00

Shares owned

0.00

Exercise price

Expiration

—

Exercise window

—

Class B Common Stock

Indirect

Underlying security

Class A Common Stock

Underlying shares

743.71K

Shares owned

743.71K

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

4.82K

Shares owned

4.82K

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

133.41K

Shares owned

133.41K

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

—

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	—	—	716.99K	716.99K
Class B Common Stock Indirect	Class A Common Stock	—	—	0.00	0.00
Class B Common Stock Indirect	Class A Common Stock	—	—	1.47M	1.47M
Class B Common Stock Indirect	Class A Common Stock	—	—	2.06M	2.06M
Class B Common Stock Indirect	Class A Common Stock	—	—	351.50K	351.50K
Class B Common Stock Indirect	Class A Common Stock	—	—	0.00	0.00
Class B Common Stock Indirect	Class A Common Stock	—	—	743.71K	743.71K
Class B Common Stock Indirect	Class A Common Stock	—	—	552.44K	552.44K
Class B Common Stock Indirect	Class A Common Stock	—	—	4.82K	4.82K
Class B Common Stock Indirect	Class A Common Stock	—	—	790.66K	790.66K
Class B Common Stock Indirect	Class A Common Stock	—	—	133.41K	133.41K
Class B Common Stock Indirect	Class A Common Stock	—	—	250K	250K
Total				7.08M	7.08M