Cloudflare Officer Michelle Zatlyn Plans $80M Stock Sale Under 10b5-1 Plan
NET sits 70% above its 52-week low of $158.83.
Summary
Cloudflare officer Michelle Zatlyn plans to sell $80.1 million in stock under a pre-existing 10b5-1 plan, adding to $51.7 million in sales by her trust over the past three months.
Key Events · Ownership and Investor Activity · NET
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Officer Plans $80M Stock Sale
Michelle Zatlyn, an officer of Cloudflare, filed a Form 144 to sell 297,082 shares of Class A common stock with an approximate market value of $80.1 million. The sale is scheduled for on or about July 13, 2026.
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Sale Under Pre-Existing 10b5-1 Plan
The planned sale is executed under a Rule 10b5-1 trading plan adopted on February 27, 2026, indicating the transaction was pre-scheduled and not based on current material non-public information.
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Ongoing Selling Pattern by Zatlyn Trust
Over the past three months, the Sutherland/Zatlyn Revocable Trust has sold 240,208 shares for gross proceeds of $51.7 million through a series of regular, smaller transactions, suggesting a systematic diversification strategy.
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Stock Near 52-Week High
The planned sale comes as Cloudflare shares trade at $269.99, near the 52-week high of $280.14, potentially reflecting opportunistic timing within the pre-set plan parameters.
Analysis · NET · Technology
A significant liquidity event is on the horizon for Cloudflare officer Michelle Zatlyn, who has filed to sell 297,082 shares worth approximately $80.1 million under a pre-arranged 10b5-1 trading plan adopted in February 2026. While the sale follows a pattern of regular, smaller transactions by her trust—totaling $51.7 million over the past three months—the sheer dollar amount stands out as one of the largest insider sales at Cloudflare in recent months. Because the transaction is executed under a 10b5-1 plan, it carries less immediate signaling weight than a discretionary sale, yet it will still draw attention, especially with the stock trading near its 52-week high.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 29.9% of the 1591 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.24%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NET was trading at $269.99 on NYSE in the Technology sector, with a market capitalization of approximately $95.7B. The 52-week trading range was $158.83 to $280.14. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.