Netskope holder converts 3.03M shares, sells 10,621
Lightspeed-affiliated funds converted Netskope Class B shares, reallocated them in-kind, and sold a small block of Class A stock in the open market.
Rhea-AI Filing Summary
Netskope Inc (NTSK) reported insider activity by multiple Lightspeed funds and related entities. On September 10, 2026, Lightspeed Venture Partners IX, L.P. converted 3,034,693 shares of Class B Common Stock into 3,034,693 Class A shares for no additional consideration, followed by a series of pro rata, in-kind distributions among affiliated funds and partners at no stated price. On September 11, 2026, Lightspeed Management Company, L.L.C. sold 10,621 Class A shares in the market at a weighted average price of $14.90 per share, with individual trades ranging from $14.60 to $15.00. Each Class B share is convertible into one Class A share at any time or automatically on September 19, 2035, and the reporting persons note that several general partner entities disclaim beneficial ownership beyond their pecuniary interests. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
13 txns
Insider
Lightspeed Venture Partners Select, L.P., Lightspeed General Partner Select, L.P., Lightspeed Ultimate General Partner Select, Ltd., Lightspeed Venture Partners Select II, L.P., Lightspeed General Partner Select II, L.P., Lightspeed Ultimate General Partner Select II, Ltd., Lightspeed Opportunity Fund, L.P., Lightspeed General Partner Opportunity Fund, L.P., Lightspeed Ultimate General Partner Opportunity Fund, Ltd.
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Sold
10,621 shs ($158K)
Approx. gross sale proceeds
$158K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock F9, F8 | 10,621 | $14.90 | $158K |
| Conversion | Class B Common Stock F1, F10, F2 | 3,034,693 | -- | -- |
| Conversion | Class A Common Stock F1, F2 | 3,034,693 | -- | -- |
| Other | Class A Common Stock F3, F2 | 3,034,693 | $0.00 | $0.00 |
| Other | Class A Common Stock F4, F5 | 792,813 | $0.00 | $0.00 |
| Other | Class A Common Stock F6, F5 | 792,813 | $0.00 | $0.00 |
| Other | Class A Common Stock F7, F8 | 10,621 | $0.00 | $0.00 |
| holding | Class B Common Stock F10, F11 | -- | -- | -- |
| holding | Class B Common Stock F10, F12 | -- | -- | -- |
| holding | Class B Common Stock F10, F13 | -- | -- | -- |
| holding | Class B Common Stock F10, F14 | -- | -- | -- |
| holding | Class B Common Stock F10, F15 | -- | -- | -- |
| holding | Class B Common Stock F10, F16 | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 14,161,900 contracts (Indirect, By Lightspeed Venture Partners IX, L.P.);
Class A Common Stock — 0 shares (Indirect, By Lightspeed Venture Partners IX, L.P.);
Class A Common Stock — 0 shares (Indirect, By Lightspeed General Partner IX, L.P.);
Class A Common Stock — 0 shares (Indirect, By Lightspeed Management Company, L.L.C.);
Class B Common Stock — 15,608,645 contracts (Indirect, By Lightspeed SPV II, LLC);
Class B Common Stock — 7,765,561 contracts (Indirect, By Lightspeed SPV II-B, LLC);
Class B Common Stock — 8,818,610 contracts (Indirect, By Lightspeed Venture Partners Select, L.P.);
Class B Common Stock — 7,508,890 contracts (Indirect, By Lightspeed Venture Partners Select II, L.P.);
Class B Common Stock — 2,690,640 contracts (Indirect, By Lightspeed Opportunity Fund, L.P.);
Class B Common Stock — 500 contracts (Indirect, By LSS Fund II, LLC)
Footnotes (16)
- F1. Each share of Class B common stock was converted into one share of Class A Common Stock for no additional consideration.
- F2. Shares are held by Lightspeed Venture Partners IX, L.P. ("Lightspeed IX"). Lightspeed General Partner IX, L.P. ("LGP IX") is the general partner of Lightspeed IX. Lightspeed Ultimate General Partner IX, Ltd. ("LUGP IX") is the general partner of LGP IX. Each of LGP IX and LUGP IX disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.
- F3. Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by Lightspeed IX to its general partner and limited partners without additional consideration.
- F4. Represents receipt of shares in the distribution in kind described in footnote (3).
- F5. Shares are held by LGP IX. LUGP IX is the general partner of LGP IX. LUGP IX disclaims beneficial ownership of these shares except to the extent of its pecuniary interest therein.
- F6. Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by LGP IX to its limited partners without additional consideration.
- F7. Represents receipt of shares in the distribution in kind described in footnote (6).
- F8. Shares are held by Lightspeed Management Company, L.L.C.
- F9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.60 to $15.00 inclusive. The Reporting Persons undertake 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 within the range set forth in this footnote.
- F10. Each share of Class B Common Stock is convertible into one share of Class A Common Stock (A) at any time at the option of the holder or (B) automatically on September 19, 2035 as set forth in the Issuer's amended and restated certificate of incorporation.
- F11. Shares are held by Lightspeed SPV II, LLC ("Lightspeed SPV II"). LS SPV Management, LLC ("LS SPV") is the manager of Lightspeed SPV II. LS SPV disclaims beneficial ownership of these shares except to the extent of its pecuniary interest therein.
- F12. Shares are held by Lightspeed SPV II-B, LLC ("Lightspeed SPV II-B"). LS SPV is the manager of Lightspeed SPV II-B. LS SPV disclaims beneficial ownership of these shares except to the extent of its pecuniary interest therein.
- F13. Shares are held by Lightspeed Venture Partners Select, L.P. ("Lightspeed Select"). Lightspeed General Partner Select, L.P. ("LGP Select") is the general partner of Lightspeed Select. Lightspeed Ultimate General Partner Select, Ltd. ("LUGP Select") is the general partner of LGP Select. Each of LGP Select and LUGP Select disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.
- F14. Shares are held by Lightspeed Venture Partners Select II, L.P. ("Lightspeed Select II"). Lightspeed General Partner Select II, L.P. ("LGP Select II") is the general partner of Lightspeed Select II. Lightspeed Ultimate General Partner Select II, Ltd. ("LUGP Select II") is the general partner of LGP Select II. Each of LGP Select II and LUGP Select II disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.
- F15. Shares are held by Lightspeed Opportunity Fund, L.P. ("Opportunity"). Lightspeed General Partner Opportunity Fund, L.P. ("LGP Opportunity") is the general partner of Opportunity. Lightspeed Ultimate General Partner Opportunity Fund, Ltd. ("LUGP Opportunity") is the general partner of LGP Opportunity. Each of LGP Opportunity and LUGP Opportunity disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.
- F16. Shares are held by LSS Fund II, LLC ("LSS Fund II"). Lightspeed Scout Management, LLC ("Scout Mgmt") is the manager of LSS Fund II. Each of the Reporting Persons disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.
Key Figures
Class A shares sold: 10,621 shares
Sale weighted average price: $14.90 per share
Class B converted to Class A: 3,034,693 shares
+4 more
7 metrics
Class A shares sold
10,621 shares
Open-market sale on September 11, 2026 by Lightspeed Management Company, L.L.C.
Sale weighted average price
$14.90 per share
September 11, 2026 Class A sale; individual trades from $14.60 to $15.00
Class B converted to Class A
3,034,693 shares
Conversion by Lightspeed Venture Partners IX, L.P. on September 10, 2026
Restructuring shares
4,630,940 shares
Shares moved via pro rata, in-kind distributions and related J-code transactions
Underlying shares, Lightspeed SPV II, LLC
15,608,645 shares
Class B Common Stock indirectly held, convertible into Class A
Underlying shares, Lightspeed SPV II-B, LLC
7,765,561 shares
Class B Common Stock indirectly held, convertible into Class A
Underlying shares, Lightspeed Select funds
16,327,500 shares
8,818,610 for Select and 7,508,890 for Select II, Class B underlying Class A
Key Terms
pro rata, in-kind distribution, beneficial ownership, pecuniary interest, Class B Common Stock, +1 more
5 terms
pro rata, in-kind distribution financial
"Represents a pro rata, in-kind distribution, and not a purchase or sale"
beneficial ownership financial
"disclaims beneficial ownership of these shares except to the extent"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of these shares except to the extent of its pecuniary interest therein"
Class B Common Stock financial
"Each share of Class B Common Stock is convertible into one share"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
weighted average price financial
"The price reported in Column 4 is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Was this Netskope Form 4 filed under a Rule 10b5-1 trading plan?
No. The filing indicates no Rule 10b5-1 trading plan; the document-level checkbox affirming trades under such a plan is not marked for these transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
