Lightspeed funds sell Netskope Class A stock
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Form Type
4
Rhea-AI Filing Summary
Lightspeed-affiliated investment entities reported open-market sales of Netskope Inc Class A Common Stock alongside internal restructurings and conversions of Class B into Class A. Lightspeed Venture Partners XII, L.P. sold 219,075 Class A shares at a weighted average price of $12.23, and Lightspeed Management Company, L.L.C. sold 10,621 Class A shares at a weighted average price of $11.70. Several Lightspeed funds continue to hold Class B Common Stock that is convertible into Class A on a one-for-one basis, including blocks such as 15,608,645 and 7,765,561 underlying Class A shares, with automatic conversion of Class B scheduled on September 19, 2035.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
16 txns
Insider
Lightspeed Venture Partners IX, L.P., Lightspeed General Partner IX, L.P., Lightspeed Ultimate General Partner IX, Ltd., LIGHTSPEED VENTURE PARTNERS XII, L.P., Lightspeed General Partner XII, L.P., Lightspeed Ultimate General Partner XII, Ltd., Lightspeed SPV II, LLC, Lightspeed SPV II-B, LLC, LS SPV Management, LLC, Lightspeed Management Company, L.L.C.
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Sold
229,696 shs ($2.80M)
Approx. gross sale proceeds
$2.80M
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 219,075 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 219,075 | $0.00 | $0.00 |
| Sale | Class A Common Stock | 219,075 | $12.23 | $2.68M |
| Sale | Class A Common Stock | 10,621 | $11.70 | $124K |
| Conversion | Class B Common Stock | 3,034,693 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 3,034,693 | $0.00 | $0.00 |
| Other | Class A Common Stock | 3,034,693 | $0.00 | $0.00 |
| Other | Class A Common Stock | 792,813 | $0.00 | $0.00 |
| Other | Class A Common Stock | 792,813 | $0.00 | $0.00 |
| Other | Class A Common Stock | 10,621 | $0.00 | $0.00 |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 17,196,593 contracts (Indirect, By Lightspeed Venture Partners IX, L.P.);
Class B Common Stock — 0 contracts (Indirect, By Lightspeed Venture Partners XII, 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 A Common Stock — 0 shares (Indirect, By Lightspeed Venture Partners XII, L.P.);
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 (18)
- 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 $11.65 to $11.73 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. Shares are held by Lightspeed Venture Partners XII, L.P. ("Lightspeed XII"). Lightspeed General Partner XII, L.P. ("LGP XII") is the general partner of Lightspeed XII. Lightspeed Ultimate General Partner XII, Ltd. ("LUGP XII") is the general partner of LGP XII. Each of LGP XII and LUGP XII disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.
- F11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.02 to $12.47 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.
- F12. 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.
- F13. 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.
- F14. 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.
- F15. 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.
- F16. 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.
- F17. 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.
- F18. 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 by Lightspeed XII: 219,075 shares
Sale price range for 10,621-share trade: $11.65 to $11.73 per share
Net shares sold: 229,696 shares
+4 more
7 metrics
Class A shares sold by Lightspeed XII
219,075 shares
Open-market sale of Class A Common Stock by Lightspeed Venture Partners XII, L.P. at weighted average price
Sale price range for 10,621-share trade
$11.65 to $11.73 per share
Weighted average sale price $11.70 for 10,621 Class A shares by Lightspeed Management Company, L.L.C.
Net shares sold
229,696 shares
Net open-market Class A share sales across all reported sell transactions
Conversion ratio
1 Class B share to 1 Class A share
Each Class B Common Stock share is convertible into one Class A share
Large Class B block held by Lightspeed SPV II, LLC
15,608,645 shares
Class B Common Stock underlying 15,608,645 Class A shares, held indirectly
Large Class B block held by Lightspeed SPV II-B, LLC
7,765,561 shares
Class B Common Stock underlying 7,765,561 Class A shares, held indirectly
Automatic conversion date
September 19, 2035
Automatic conversion of Class B Common Stock into Class A under corporate charter
Key Terms
pro rata, in-kind distribution, weighted average price, Class B Common Stock, derivative security, +1 more
5 terms
pro rata, in-kind distribution financial
"Represents a pro rata, in-kind distribution, and not a purchase or sale of securities"
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.
Class B Common Stock financial
"Each share of Class B Common Stock is convertible into one share of Class A"
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.
pecuniary interest financial
"disclaims beneficial ownership of these shares except to the extent of its pecuniary interest"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Lightspeed entities report in the Form 4 for Netskope Inc (NTSK)?
Lightspeed-affiliated entities reported open-market sales of Netskope Class A Common Stock plus internal restructurings and conversions of Class B into Class A, while retaining large Class B positions convertible one-for-one into Class A.
What additional Netskope (NTSK) stock sales were reported by Lightspeed entities?
Lightspeed Management Company, L.L.C. sold 10,621 Netskope Class A shares. The reported weighted average price was $11.70 per share, with individual trades executed between $11.65 and $11.73.
Were the Netskope (NTSK) distributions by Lightspeed funds purchases or sales?
Certain entries reflect pro rata, in-kind distributions by Lightspeed funds to their partners without additional consideration. Footnotes clarify these are not purchases or sales of securities, but internal reallocations among related entities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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