# EDGAR Filing Document

**Accession Number:** 0001237289
**File Stem:** 0001209191-23-010885
**Filing Date:** 2023-2
**Character Count:** 9753
**Document Hash:** db38912df962610d193dba47d11bed18
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001209191-23-010885.hdr.sgml**: 20230217

**ACCESSION NUMBER**: 0001209191-23-010885

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230215

**FILED AS OF DATE**: 20230217

**DATE AS OF CHANGE**: 20230217

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** SANDELL SCOTT D
- **CENTRAL INDEX KEY:** 0001237289

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39039
- **FILM NUMBER:** 23644586
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cloudflare, Inc.
- **CENTRAL INDEX KEY:** 0001477333
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 270805829
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 101 TOWNSEND ST.
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94107
- **BUSINESS PHONE:** 888.993.5273

**MAIL ADDRESS:**
- **STREET 1:** 101 TOWNSEND ST.
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94107

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CloudFlare, Inc.
- **DATE OF NAME CHANGE:** 20091120

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>SANDELL SCOTT D<br><sub>(Last) (First) (Middle)</sub><br>1954 GREENSPRING DRIVE<br>SUITE 600<br><sub>(Street)</sub><br>TIMONIUM, MD 21093<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-15 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Cloudflare, Inc. [ NET ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2023-02-15 |  | C<sup>(1)</sup> |  | 624608 | A | 0.00<sup>(2)</sup> | 624608 | I | See Note 3<sup>(3)</sup> |
| Class A Common Stock | 2023-02-15 |  | J<sup>(4)</sup> |  | 624608 | D | $0.00 | 0 | I | See Note 3<sup>(3)</sup> |
| Class A Common Stock | 2023-02-15 |  | J<sup>(5)</sup> |  | 191755 | A | $0.00 | 191755 | I | See Note 6<sup>(6)</sup> |
| Class A Common Stock | 2023-02-15 |  | J<sup>(7)</sup> |  | 191755 | D | $0.00 | 0 | I | See Note 6<sup>(6)</sup> |
| Class A Common Stock | 2023-02-15 |  | J<sup>(8)</sup> |  | 5142 | A | $0.00 | 5142 | I | See Note 9<sup>(9)</sup> |
| Class A Common Stock |  |  |  |  |  |  |  | 41000 | I | See Note 10<sup>(10)</sup> |
| Class A Common Stock |  |  |  |  |  |  |  | 37000 | I | See Note 11<sup>(11)</sup> |
| Class A Common Stock |  |  |  |  |  |  |  | 339926 | I | See Note 12<sup>(12)</sup> |
| Class A Common Stock |  |  |  |  |  |  |  | 3454 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Class B Common Stock<sup>(2)</sup> | <sup>(2)</sup> | 2023-02-15 |  | C |  |  | 624608 | <sup>(2)</sup> | <sup>(2)</sup> | Class A Common Stock | 624608 | $0.00 | 1249215 | I | See Note 3<sup>(3)</sup> |

---

### Footnotes:

(1) New Enterprise Associates 13, L.P. ("NEA 13") converted 624,608 shares of Class B Common Stock at its option, pursuant to the Issuer's Amended and Restated Certificate of Incorporation, resulting in its acquisition of 624,608 shares of Class A Common Stock.

(2) Each share of Class B Common Stock is convertible at any time into Class A Common Stock on a one-to-one basis at NEA 13's election and has no expiration date.

(3) The Reporting Person is a manager of NEA 13 GP, LLC ("NEA 13 GP"), which is the sole general partner of NEA Partners 13, L.P. ("NEA Partners 13"). NEA Partners 13 is the sole general partner of NEA 13, the direct beneficial owner of the securities. The Reporting Person disclaims beneficial ownership within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise of such portion of the securities held by NEA 13 in which the Reporting Person has no pecuniary interest.

(4) NEA 13 made a pro rata distribution of 624,608 shares of Class A Common Stock of the Issuer to its general partner and limited partners for no consideration on February 15, 2023.

(5) NEA Partners 13 received 191,755 shares of Class A Common Stock of the Issuer in the distribution made by NEA 13 on February 15, 2023.

(6) The Reporting Person is a manager of NEA 13 GP, which is the sole general partner of NEA Partners 13, the direct beneficial owner of the securities. The Reporting Person disclaims beneficial ownership within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise of such portion of the securities held by NEA Partners 13 in which the Reporting Person has no pecuniary interest.

(7) NEA Partners 13 made a pro rata distribution of 191,755 shares of Class A Common Stock of the Issuer to its limited partners for no consideration on February 15, 2023.

(8) The Reporting Person, as trustee of the Blue Mountain Trust, dated April 29, 2019 (the "Blue Mountain Trust"), received 5,142 shares of Class A Common Stock of the Issuer in the distribution made by NEA Partners 13 on February 15, 2023.

(9) The Reporting Person is the trustee of the Blue Mountain Trust, which is the direct beneficial owner of the securities. The Reporting Person disclaims beneficial ownership within the meaning of Section 16 of the Securities Exchagne Act of 1934, as amended, or otherwise of such portion of the securities held by the Blue Mountain Trust in which the Reporting Person has no pecuniary interest.

(10) The Reporting Person is the trustee of the SS 2022 CF GRAT 2 dated 12/6/2022 (the "SS 2022 CF GRAT 2"), which is the direct beneficial owner of the securities. The Blue Mountain Trust received 41,000 shares of Class A Common Stock as an annuity payment from the SS 2021 CF GRAT on December 19, 2022 and subsequently transferred the shares to the SS 2022 CF GRAT 2, of which the Reporting Person is the trustee. The transfers represented mere changes in the form of beneficial ownership exempt from Section 16 of the Securities Exchange Act of 1934, as amended, pursuant to Rule 16a-13.

(11) The Reporting Person is the trustee of the Pendleton 2020 GRAT, which is the direct beneficial owner of the securities.

(12) The Reporting Person is the trustee of the SS 2022 CF GRAT dated 3/8/2022, which is the direct beneficial owner of the securities.

**Signature:** /s/ Louis Citron, attorney-in-fact  
**Date:** 2023-02-17

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**