JLens, a registered investment advisor, is urging shareholders of Cloudflare, Inc. (NYSE: NET) to vote WITHHOLD on the election of two board members at the company's annual meeting scheduled for June 30, 2026.

JLens is recommending shareholders withhold votes on Michelle Zatlyn, Cloudflare's co-founder, president, and co-chair of the board, and Scott Sandell, the company's lead independent director, who have served on the board since 2009 and 2010, respectively.

In a proxy memorandum published June 10, 2026, JLens cited what it describes as the board's failure to provide sufficient oversight of risks arising from Cloudflare's provision of services to websites associated with violent extremism, terrorism, and graphic violence.

The action follows a report by ADL (the Anti-Defamation League), titled Keeping the Lights On: How Cloudflare Sustains Violent Extremism, Graphic Violence and Terrorism Online, which found that Cloudflare provides infrastructure services to gore forums, white supremacist accelerationist sites, and propaganda outlets for ISIS, a U.S.-designated foreign terrorist organization.

"Cloudflare is actively sustaining the digital infrastructure of gore forums linked to deadly attacks, sites that glorify mass killers, and ISIS propaganda networks," said Ari Hoffnung, managing director of JLens. "The threats enabled by its platforms are not hypothetical. They are lethal, and we believe they expose the Company and its shareholders to unnecessary risk."

JLens stated this is the first time it has urged shareholders to vote against corporate board members. The organization noted that Cloudflare's co-founders control a majority of the company's voting power.

JLens is calling on Cloudflare's board to adopt five reforms, including implementing an acceptable-use policy prohibiting service to sites dedicated to graphic violence and terrorism, commissioning an independent review of sanctions-screening controls, expanding transparency reporting, establishing board-level oversight of high-threat customers, and disclosing how compliance functions will be resourced following a May 2026 workforce reduction.

JLens manages the JLens 500 Jewish Advocacy U.S. ETF (NYSE: TOV) and reports over $400 million invested across its ETF and separately managed accounts as of March 31, 2026.