Company: NET
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001477333-25-000137
Chunk: 411

Company: Cloudflare, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 411
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 future amounts paid. The Company also may be subject to indemnification obligations by law with respect to the actions of its employees under certain circumstances and in certain jurisdictions.

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Note 9. Common Stock

The Company’s amended and restated certificate of incorporation authorizes the issuance of Class A common stock and Class B common stock. The holder of each share of Class A common stock is entitled to one vote per share, while the holder of each share of Class B common stock is entitled to 10 votes per share.Holders of the Company’s Class A common stock and Class B common stock are entitled to dividends when, as and if, declared by the Company’s Board of Directors, subject to the rights of the holders of all classes of stock outstanding having priority rights to dividends. Any dividends paid to the holders of the Class A common stock and Class B common stock will be paid on a pro rata basis. As of June 30, 2025 and December 31, 2024, the Company had not declared any dividends. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. Shares of the Company's Class B common stock are convertible into an equivalent number of shares of the Company's Class A common stock and generally convert into shares of the Company's Class A common stock upon cessation of employment or transfer, except for certain transfers described in the Company's amended and restated certificate of incorporation. Class A common stock and Class B common stock are referred to, collectively, as common stock throughout the notes to these condensed consolidated financial statements, unless otherwise indicated.Common Stock Reserved for Future IssuanceShares of common stock reserved for future issuance, on an as-if converted basis, are as follows:June 30, 2025December 31, 2024(in thousands)2026 Notes10,311 10,311 2030 Notes11,709 — Stock options issued and outstanding7,517 8,847 Remaining shares available for issuance under the 2019 Plan83,613 69,012 Outstanding and unsettled RSUs and PSUs12,494 11,879 Shares available for issuance under the Employee Stock Purchase Plan (ESPP)20,176 16,893 Total shares of common stock reserved145,820 116,942 

Note 10. Stock-based Compensation

Equity Incentive PlansThe 2019 Equity Incentive