Cloudflare amends co-founder performance stock options, requires stockholder approval by Dec 2022

Cloudflare, Inc.

Compensation Committee approved amended Performance Awards on April 20, 2022, for CEO Matthew Prince and COO Michelle Zatlyn.
Amended awards require majority vote of disinterested stockholders at 2022 annual/special meeting, or forfeiture by December 22, 2022.
Each co-founder received a 10-year performance-based stock option covering 3,960,000 shares with stock price milestones from $156 to $979.
If stockholder approval is not obtained by December 22, 2022, the performance awards will be immediately and automatically forfeited.
The awards vest based on both stock price goals and continued service, with eight tranches and time-based vesting over six years.

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