No unusual insider behavior detected; activity aligns with routine equity plan management. No signal of distress or optimism. Traders should focus on fundamentals and upcoming earnings rather than this cluster.
Price Chart
Executive Summary
A cluster of insider transactions at Cloudflare occurred over the past seven days, led by Chief Accounting Officer Riley Janel exercising options and selling shares for $748.8K, and President Michelle Zatlyn converting derivatives across three days. Most transactions were non-cash events, with total open-market sales amounting to $771.2K.
Key Financial Metrics
Key Facts
- Chief Accounting Officer Riley Janel exercised 23,332 shares for $1.58M and sold 4,160 shares in the open market for $748.8K.
- President Michelle Zatlyn converted 76,923 derivative shares over three days (25,641 per day) at $0 — non-cash, tax-related transactions.
- Other open-market sales: Mark J. Hawkins sold $22.4K, and John Graham-Cumming exercised 2,520 shares for $112.7K.
- Total open-market selling: $771.2K over 7 days, consistent with recent 30-day trend.
- All transactions are routine — mix of option exercises, conversions, and modest open-market sales.
Financial Impact
$771.2K in open-market sales, 0.0011% of $67.7B market cap — immaterial
Risk Factors
- Misinterpretation of derivative conversions (Zatlyn's $0 transactions) as selling — these are tax withholding events, not dispositions.
- Perception risk if media misframes Janel's $748K sale as negative, though it's minor relative to company size.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CONTEXT: Insider Cluster Data (7 trades, 7d window) | cluster-NET-1772837285505 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 16d ago | Insider Cluster | $324.65 $352.33 | ▲ +8.53% | ▲ +5.96% | $349.31 (+7.60%) |
Sep 15, 2026 16d ago | Insider Cluster | $324.65 $352.33 | ▲ +8.53% | ▲ +5.96% | $349.31 (+7.60%) |
Sep 2, 2026 4w ago | Court Ruling | $272.74 $311.17 | ▲ +14.09% | ▲ +15.05% | $349.31 (+28.07%) |
Aug 21, 2026 5w ago | Insider Cluster | $280.35 $305.11 | ▲ +8.83% | ▲ +8.36% | $349.31 (+24.60%) |
Aug 19, 2026 6w ago | Insider Cluster | $278.91 $308.23 | ▲ +10.51% | ▲ +9.40% | $349.31 (+25.24%) |
Aug 19, 2026 6w ago | Insider Cluster | $278.91 $308.23 | ▲ +10.51% | ▲ +9.40% | $349.31 (+25.24%) |
Aug 13, 2026 7w ago | 8-K | $315.78 $293.14 | ▼ −7.17% | ▼ −5.80% | $349.31 (+10.62%) |
Aug 11, 2026 7w ago | Insider Cluster | $311.45 $291.88 | ▼ −6.28% | ▼ −5.84% | $349.31 (+12.16%) |
Aug 6, 2026 8w ago | Insider Cluster | $300.27 $315.78 | ▲ +5.17% | ▲ +4.77% | $349.31 (+16.33%) |
Aug 5, 2026 8w ago | Insider Cluster | $284.43 $330.83 | ▲ +16.31% | ▲ +15.10% | $349.31 (+22.81%) |
US Market Status
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