Company: NET
Filing Date: 2025-04-21
Form Type: DEF 14A
Source: 0001477333-25-000065
Chunk: 49

Company: Cloudflare, Inc.
Filing Date: 2025-04-21
Form: DEF 14A
Chunk 49
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 peer group was used as a competitive market reference by the compensation committee for its 2024 executive compensation actions and decisions.

In July 2024, the compensation committee, with the assistance of Compensia, reviewed and updated our compensation peer group for use in making decisions and recommendations related to the compensation of our named executive officers for the second half of 2024 and 2025. In evaluating the companies comprising the compensation peer group at that time, Compensia considered the same criteria as assessed in July 2023 except that the assessment of companies with similar revenue and market capitalization to ours was updated to reflect our then-current trailing four quarters revenue of approximately $1.4 billion and our market capitalization of approximately $26.8 billion . As a result of this reassessment, the compensation committee made two changes to our peer group in July 2024, removing Smartsheet and Five9, with the resulting peer group consisting of:

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| •BILL Holdings        |     | •HubSpot               |     | •Samsara        |
| •CrowdStrike Holdings |     | •MongoDB               |     | •Snowflake      |
| •Datadog              |     | •Okta                  |     | •The Trade Desk |
| •DocuSign             |     | •Palantir Technologies |     | •Twilio         |
| •Dynatrace            |     | •Paycom Software       |     | •UiPath         |
| •Elastic N.V.         |     | •Paylocity Holding     |     | •Unity Software |
|                       |     |                        |     | •Zscaler        |

The compensation committee used data drawn from the companies in our compensation peer group, as well as Radford survey data drawn from a custom cut of the company’s peer companies that were also participants in the Radford survey, to evaluate the competitive market for executive talent when determining the total direct compensation packages for our named executive officers, including base salary and long-term incentive compensation opportunities.

#### Compensation Elements
In 2024, the principal elements of our executive compensation program were base salary and long-term incentive compensation in the form of equity awards.

Base Salary

Base salary represents the fixed portion of the compensation of our named executive officers and is an important element of compensation intended to attract and retain highly talented individuals. Generally, we use base salary to provide each executive officer with a specified level of cash compensation during the year with the expectation that he or