Lightspeed fund linked to Netskope (NTSK) director sells 1.65M shares after conversion
Rhea-AI Filing Summary
Netskope director-associated fund reports large sales and a share conversion. Lightspeed Opportunity Fund, L.P., an entity associated with director Arif Janmohamed, converted 1,650,000 shares of Class B Common Stock into an equal number of Class A shares for no additional consideration, then sold 1,313,827 Class A shares on June 12 at a weighted average price of about $9.19 per share and 336,173 shares on June 15 at a weighted average price of $9.00 per share in open-market transactions. Following these sales, the filing shows no remaining indirectly held Class A shares. Janmohamed shares voting and investment power over the fund’s holdings and disclaims beneficial ownership except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
4 txns
Insider
Janmohamed Arif
Role
Director
Sold
1,650,000 shs ($15.10M)
Approx. gross sale proceeds
$15.10M
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 336,173 | $9.00 | $3.03M |
| Conversion | Class B Common Stock | 1,650,000 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 1,650,000 | $0.00 | $0.00 |
| Sale | Class A Common Stock | 1,313,827 | $9.19 | $12.07M |
Holdings After Transaction:
Class B Common Stock — 2,690,640 shares (Indirect, By Lightspeed Opportunity Fund, L.P.);
Class A Common Stock — 0 shares (Indirect, By Lightspeed Opportunity Fund, L.P.)
Footnotes (5)
- 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 Opportunity Fund, L.P. ("Opportunity"). The Reporting Person is a director of Lightspeed Ultimate General Partner Opportunity Fund Ltd., the indirect general partner of Opportunity, and shares voting and investment power with respect to the shares held of record by Opportunity. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.
- F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.71 to $9.495 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.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.785 to $9.44 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.
- F5. 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.
Key Figures
Class A shares sold (June 12): 1,313,827 shares at $9.19
Class A shares sold (June 15): 336,173 shares at $9.00
Total Class A shares sold: 1,650,000 shares
+4 more
7 metrics
Class A shares sold (June 12)
1,313,827 shares at $9.19
Open-market sale of Class A Common Stock on June 12, 2026
Class A shares sold (June 15)
336,173 shares at $9.00
Open-market sale of Class A Common Stock on June 15, 2026
Total Class A shares sold
1,650,000 shares
Aggregate of June 12 and June 15 sales
Class B to Class A conversion
1,650,000 shares at $0.00
Conversion of Class B into Class A Common Stock, no consideration
Post-sale Class A holdings
0 shares
Indirect Class A Common Stock held following June 15 sale
Price range first sale
$8.71–$9.495
Weighted-average price footnote for June 12 sale
Price range second sale
$8.785–$9.44
Weighted-average price footnote for June 15 sale
Key Terms
weighted average price, pecuniary interest, Class B Common Stock, derivative security, +1 more
5 terms
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.
pecuniary interest financial
"The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein."
Class B Common Stock financial
"Each share of Class B Common Stock is convertible into one share of Class A Common Stock"
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.
derivative security financial
"Conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
voting and investment power financial
"shares voting and investment power with respect to the shares held of record by Opportunity"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Netskope (NTSK) disclose in this Form 4 filing?
Netskope reported that Lightspeed Opportunity Fund, L.P., an entity associated with director Arif Janmohamed, converted Class B shares into 1,650,000 Class A shares, then sold 1,650,000 Class A shares in open-market transactions at weighted average prices around $9 per share.
How are the Netskope (NTSK) sale prices described in the Form 4 footnotes?
The reported per-share prices are weighted averages. One sale covered trades ranging from $8.71 to $9.495 per share, and the other from $8.785 to $9.44. The reporting persons offer full trade-by-trade detail to interested parties upon request.