Cloudflare President Michelle Zatlyn Sells $27.6M in Company Stock

Cloudflare President and Board Co-Chair Michelle Zatlyn sold $27.6 million in company stock between September 3 and September 8, 2026, as part of a pre-established trading plan. The sale occurs during a period of growth for the cybersecurity firm, which has seen its share price climb 44% year-to-date.

According to an Investing.com report, Zatlyn sold 99,009 shares of Class A Common Stock. The transactions were executed under a Rule 10b5-1 trading plan. This mechanism allows corporate insiders to set up a predetermined schedule for selling shares to avoid concerns regarding non-public information.

Mechanics of the Stock Sale

Zatlyn adopted the Rule 10b5-1 trading plan on February 27, 2026. Executives use these plans to provide an affirmative defense against allegations of insider trading, as the timing and volume of the sales are determined in advance rather than based on current market fluctuations.

The shares sold by the executive were acquired through the exercise of employee stock options. These shares were converted from Class B to Class A Common Stock on a one-to-one basis prior to the sale.

Market Context for Cloudflare

As of the reporting date, Cloudflare shares were trading at $284.30. This valuation reflects a period for the company, which now carries a market capitalization of approximately $101.2 billion.

The 44% year-to-date surge in stock price highlights the company's performance in the cybersecurity sector. Investors and stakeholders monitor insider activity, even when pre-planned, as a signal of how leadership views the company’s current valuation.