secwatch.observer — SEC 8-K summary
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Issuer:     Cloudflare, Inc. (NET)
CIK:        0001477333
Form:       8-K/A
Filed at:   2022-04-21T23:59:59+00:00
Accession:  0001193125-22-113153
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1477333/000119312522113153/0001193125-22-113153-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1477333/000119312522113153/d300038d8ka.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-113153

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer