Graham-Cumming John has filed 110 Form 4 transactions, all in a single company, Cloudflare (NET). The pattern is one-sided: zero open-market purchases and zero acquisitions of any kind, against $8.37 million in total sales. The most recent activity, covering July and August 2026, shows 23 open-market sales and no buys.
The August 10, 2026 filings are the densest cluster. Seventeen separate sale transactions were reported that day, ranging from $7,797.50 to $122,458.94. Combined, those August sales total roughly $702,000. The July 6, 2026 filings show a similar structure, with six sales between $3,001.77 and $231,505.83, plus one option exercise valued at $112,694.40 on each date. The exercise code M is mechanical, and the corresponding sales are the disposition of those shares.
The dollar values are consistent with a pre-arranged selling plan rather than a response to price action. Sales occur on two specific dates, are split into many small lots, and are paired with option exercises of identical value. There is no recent purchase activity of any kind, and the total buy value across all 110 filings is zero. The direction is unambiguous: Graham-Cumming has been a seller of NET stock throughout the filing period, with no offsetting open-market buying.
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