---
schema_version: "secwatch.filing_event.v1"
accession: "0001477333-23-000003"
form_type: "8-K"
ticker: "NET"
cik: "0001477333"
company_name: "Cloudflare, Inc."
filed_at: "2023-01-31T23:59:59+00:00"
generated_at: "2026-06-20T05:19:02.624135+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Cloudflare appoints Janel Riley as VP Finance/CAO; Paul Underwood to step down

## Summary
- Janel Riley will join as VP Finance effective May 1, 2023, and become CAO on June 1, 2023.
- Paul Underwood will step down as VP, Head of Finance & CAO but remain CAO until June 1, 2023.
- Riley will receive $400,000 base salary, $7.5M RSUs (4-year vest), $500K RSUs (1-year), and 100K performance stock options.
- Riley previously served as a Partner at KPMG and was lead audit engagement partner for Cloudflare.
- Compensation details subject to Board/Compensation Committee approval under 2019 Equity Incentive Plan.

## SEC filing metadata
- accession: 0001477333-23-000003
- form_type: 8-K
- ticker: NET
- cik: 0001477333
- company_name: Cloudflare, Inc.
- filed_at: 2023-01-31T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1477333/000147733323000003/0001477333-23-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1477333/000147733323000003/cloud-20230125.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477333-23-000003
- JSON: https://secwatch.observer/filing/0001477333-23-000003.json
- Plain text: https://secwatch.observer/filing/0001477333-23-000003.txt

## Key facts
- Executive change
  Janel Riley was appointed as Vice President, Finance and Chief Accounting Officer at Cloudflare, Inc..
  - Action: appointed
  - Role: Vice President, Finance and Chief Accounting Officer
  source text: On January 25, 2023, Janel Riley signed an offer letter with Cloudflare, Inc. (the “Company”), pursuant to which she will hold the position of Vice President, Finance effective upon her commencement of employment with the Company on May 1, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1477333/000147733323000003/0001477333-23-000003-index.htm
- Executive change
  Paul Underwood departed as Vice President, Head of Finance and Chief Accounting Officer at Cloudflare, Inc..
  - Action: stepped down
  - Role: Vice President, Head of Finance and Chief Accounting Officer
  source text: On January 25, 2023, Paul Underwood, the Company's Vice President, Head of Finance and Chief Accounting Officer, announced his decision to step down.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1477333/000147733323000003/0001477333-23-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.