sellModerate cluster of 410b5-1 plan
Michelle Zatlyn sold $9.6M of NET
President and Board Co-Chair at Cloudflare, Inc.. 76,920 shares at an average of $124.70, traded Mar 25, 2025, filed Mar 27, 2025.
Warning score
45Value
$9.6M
76,920 shares
Holdings after
19,615
-375% from before
From 52-week low
+63%
low $78.09, close $127.50
From 52-week high
-28%
high $176.50, as of Mar 25, 2025
Score components
- +20RolePresident
- +25Trade size$9.6M at market
- +20Share of holdings soldSold 100% of holdings
- +15Cluster4 insiders selling within 14 days
- -15Exercise and sellShares came from an option exercise in the same filing
- -2010b5-1 planPre-scheduled under a 10b5-1 plan
What happened after comparable sells
Same side and tier, against the S&P 500, at 1, 3 and 6 months. Shown to Pro users; the whole table is on the backtest page.
Price around the trade, and since
From a quarter before the trade to today. The arrow is the trade, the circle the day the filing reached EDGAR, which is the first day anyone outside could act; the dotted line is the S&P 500 rebased to that day's close.
NETOct 9, 2026 · close 360.93
Since filing Mar 27, 2025: +204.4%SPY +39.6% · excess +164.8%
Daily candles, adjusted for splits and dividends. Green arrows are insider buys, red are sells, sized by value; the dashed line is the close on the filing day, the dotted line SPY rebased to it.Charts by TradingView Lightweight Charts™
Rows in this filing
Every transaction in Form 4 0001104659-25-028865, as filed. Open on EDGAR
| Date | Transaction | Shares | Price | Value | Holdings after | Filed |
|---|---|---|---|---|---|---|
| Mar 25, 2025 | CConversion Class A Common Stockindirect: See footnote10b5-1 | +20,512 | - | - | 20,512 | Mar 27, 2025 |
| Mar 25, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -11,013 | $130.45 | $1.4M | 9,499 | Mar 27, 2025 |
| Mar 25, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -7,081 | $131.12 | $928k | 2,418 | Mar 27, 2025 |
| Mar 25, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -2,418 | $131.93 | $319k | 0 | Mar 27, 2025 |
| Mar 25, 2025 | CConversion Class A Common Stockindirect: See footnote10b5-1 | +5,128 | - | - | 24,743 | Mar 27, 2025 |
| Mar 25, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -2,735 | $130.45 | $357k | 22,008 | Mar 27, 2025 |
| Mar 25, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -1,782 | $131.10 | $234k | 20,226 | Mar 27, 2025 |
| Mar 25, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -611 | $131.93 | $81k | 19,615 | Mar 27, 2025 |
| Mar 26, 2025 | CConversion Class A Common Stockindirect: See footnote10b5-1 | +20,512 | - | - | 20,512 | Mar 27, 2025 |
| Mar 26, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -3,879 | $124.12 | $481k | 16,633 | Mar 27, 2025 |
| Mar 26, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -3,660 | $125.32 | $459k | 12,973 | Mar 27, 2025 |
| Mar 26, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -10,313 | $126.53 | $1.3M | 2,660 | Mar 27, 2025 |
| Mar 26, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -2,660 | $126.97 | $338k | 0 | Mar 27, 2025 |
| Mar 26, 2025 | CConversion Class A Common Stockindirect: See footnote10b5-1 | +5,128 | - | - | 24,743 | Mar 27, 2025 |
| Mar 26, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -951 | $124.12 | $118k | 23,792 | Mar 27, 2025 |
| Mar 26, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -991 | $125.37 | $124k | 22,801 | Mar 27, 2025 |
| Mar 26, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -2,516 | $126.52 | $318k | 20,285 | Mar 27, 2025 |
| Mar 26, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -670 | $126.97 | $85k | 19,615 | Mar 27, 2025 |
| Mar 27, 2025 | CConversion Class A Common Stockindirect: See footnote10b5-1 | +20,512 | - | - | 20,512 | Mar 27, 2025 |
| Mar 27, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -8,352 | $116.33 | $972k | 12,160 | Mar 27, 2025 |
| Mar 27, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -5,062 | $117.29 | $594k | 7,098 | Mar 27, 2025 |
| Mar 27, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -6,512 | $118.53 | $772k | 586 | Mar 27, 2025 |
| Mar 27, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -586 | $119.10 | $70k | 0 | Mar 27, 2025 |
| Mar 27, 2025 | CConversion Class A Common Stockindirect: See footnote10b5-1 | +5,128 | - | - | 24,743 | Mar 27, 2025 |
| Mar 27, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -2,054 | $116.33 | $239k | 22,689 | Mar 27, 2025 |
| Mar 27, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -1,278 | $117.25 | $150k | 21,411 | Mar 27, 2025 |
| Mar 27, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -1,646 | $118.53 | $195k | 19,765 | Mar 27, 2025 |
| Mar 27, 2025 | SOpen-market sale Class A Common Stockindirect: See footnote10b5-1 | -150 | $119.10 | $18k | 19,615 | Mar 27, 2025 |
| Mar 25, 2025 | MOption exercise Employee Stock Option (right to buy)derivative10b5-1 | -20,512 | $0.00 | $0 | 2,451,268 | Mar 27, 2025 |
| Mar 25, 2025 | MOption exercise Class B Common Stockderivative10b5-1 | +20,512 | $0.00 | $0 | 20,512 | Mar 27, 2025 |
| Mar 25, 2025 | CConversion Class B Common Stockderivative10b5-1 | -20,512 | $0.00 | $0 | 0 | Mar 27, 2025 |
| Mar 25, 2025 | CConversion Class B Common Stockderivativeindirect: See footnote10b5-1 | -5,128 | $0.00 | $0 | 1,380,868 | Mar 27, 2025 |
| Mar 26, 2025 | MOption exercise Employee Stock Option (right to buy)derivative10b5-1 | -20,512 | $0.00 | $0 | 2,430,756 | Mar 27, 2025 |
| Mar 26, 2025 | MOption exercise Class B Common Stockderivative10b5-1 | +20,512 | $0.00 | $0 | 20,512 | Mar 27, 2025 |
| Mar 26, 2025 | CConversion Class B Common Stockderivative10b5-1 | -20,512 | $0.00 | $0 | 0 | Mar 27, 2025 |
| Mar 26, 2025 | CConversion Class B Common Stockderivativeindirect: See footnote10b5-1 | -5,128 | $0.00 | $0 | 1,375,740 | Mar 27, 2025 |
| Mar 27, 2025 | MOption exercise Employee Stock Option (right to buy)derivative10b5-1 | -20,512 | $0.00 | $0 | 2,410,244 | Mar 27, 2025 |
| Mar 27, 2025 | MOption exercise Class B Common Stockderivative10b5-1 | +20,512 | $0.00 | $0 | 20,512 | Mar 27, 2025 |
| Mar 27, 2025 | CConversion Class B Common Stockderivative10b5-1 | -20,512 | $0.00 | $0 | 0 | Mar 27, 2025 |
| Mar 27, 2025 | CConversion Class B Common Stockderivativeindirect: See footnote10b5-1 | -5,128 | $0.00 | $0 | 1,370,612 | Mar 27, 2025 |
Related signals
Other insiders at Cloudflare, Inc. and this insider’s other filings.
| Score | Company | Insider | Value | Holdings | Filed |
|---|---|---|---|---|---|
| 38Weak | Cloudflare, Inc. | Michelle Zatlyn President and Board Co-Chair | $35M 99,009 shares | -96% | |
| 35Weak | Cloudflare, Inc. | Carl Ledbetter director | $1.8M 5,000 shares | -1% | |
| 27Weak | Cloudflare, Inc. | Thomas J Seifert Chief Financial Officer | $3.3M 10,000 shares | -8% | |
| 35Weak | Cloudflare, Inc. | Carl Ledbetter director | $1.6M 5,000 shares | -1% | |
| 45Moderate | Cloudflare, Inc. | Michelle Zatlyn PRESIDENT & BOARD CO-CHAIR | $28M 99,009 shares | -96% | |
| 45Moderate | Cloudflare, Inc. | Michelle Zatlyn President and Board Co-Chair | $17M 76,923 shares | -191% | |
| 35Weak | Cloudflare, Inc. | Carl Ledbetter director | $3.4M 15,000 shares | -1% | |
| 27Weak | Cloudflare, Inc. | Thomas J Seifert Chief Financial Officer | $2.3M 10,000 shares | -5% | |
| 65Notable | Cloudflare, Inc. | Matthew Prince CEO & Board Co-Chair | $35M 157,152 shares | -300% | |
| 22Weak | Cloudflare, Inc. | Mark J Hawkins director | $202k 1,000 shares | -7% |
Not investment advice. Scores and forward returns are decision support built from public SEC filings and past prices; they describe what happened after comparable filings, not what will happen after this one. Do your own research and size your risk.