FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Kramer Douglas James
2. Issuer Name and Ticker or Trading Symbol

Cloudflare, Inc. [ NET ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
General Counsel
(Last)          (First)          (Middle)

C/O CLOUDFLARE, INC., 101 TOWNSEND STREET
3. Date of Earliest Transaction (MM/DD/YYYY)

2/19/2020
(Street)

SAN FRANCISCO, CA 94107
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 2/19/2020  C  28439 A (1)28439 D  
Class A Common Stock 2/19/2020  S(2)  14168 D$17.6546 (3)14271 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units  (4)2/19/2020  M     25000   (5) (5)Class B Common Stock (1)25000 $0.00 75000 D  
Restricted Stock Units  (4)2/19/2020  M     18750   (6) (6)Class B Common Stock (1)18750 $0.00 131250 D  
Class B Common Stock  (1)2/19/2020  M   43750     (1) (1)Class A Common Stock 43750 $0.00 478073 D  
Class B Common Stock  (1)2/19/2020  F (7)    15311   (1) (1)Class A Common Stock 15311 $17.50 462762 D  
Class B Common Stock  (1)2/19/2020  C     28439   (1) (1)Class A Common Stock 28439 $0.00 434323 D  

Explanation of Responses:
(1) Each share of Class B Common Stock is convertible at any time into Class A Common Stock on a one-to-one basis at the reporting person's election and has no expiration date.
(2) The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 26, 2019.
(3) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.495 to $17.97, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
(4) Each restricted stock unit, or RSU, represents a contingent right to receive one share of Issuer Class B Common Stock.
(5) The RSUs, vest in 16 equal quarterly installments following February 15, 2019. Settlement of vested shares occurred following the expiration of the Issuer's lock-up period on February 19, 2020.
(6) The RSUs vest in 16 equal quarterly installments following August 15, 2019. Settlement of vested shares occurred following the expiration of the Issuer's lock-up period on February 19, 2020.
(7) The shares were withheld to satisfy the reporting person's tax liability in connection with the vesting of RSUs.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Kramer Douglas James
C/O CLOUDFLARE, INC.
101 TOWNSEND STREET
SAN FRANCISCO, CA 94107


General Counsel

Signatures
/s/ Lindsey Cochran, by power of attorney2/21/2020
**Signature of Reporting PersonDate

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