[Form 4] Netskope Inc Insider Trading Activity
Rhea-AI Filing Summary
Netskope Inc’s major venture backer Lightspeed-related entities reported a combine-and-sell transaction in Class A and B shares. Lightspeed Opportunity Fund, L.P. converted 1,650,000 shares of Class B Common Stock into Class A Common Stock for no additional consideration, then sold 1,650,000 Class A shares in open-market trades around $9 per share over two days. Footnotes state the reported prices are weighted averages, with individual trades ranging from $8.71 to $9.495. Class B shares are convertible into Class A on a one-for-one basis and will automatically convert on September 19, 2035 under Netskope’s charter. While Lightspeed Opportunity Fund’s reported Class A position was reduced to zero, affiliated Lightspeed funds continue to hold substantial Class B positions that are each convertible into large blocks of Class A shares.
Positive
- None.
Negative
- None.
Insights
Lightspeed converts and sells 1.65M Netskope shares while retaining large convertible holdings.
The filing shows Lightspeed Opportunity Fund, L.P. converting 1,650,000 Class B shares into Class A at $0.00 per share, then selling the same number of Class A shares around $9. This is an exercise-and-sell pattern by a significant holder.
Footnotes highlight that sale prices were reported as weighted averages, with trades between $8.71 and $9.495. The transaction reduces that specific fund’s Class A position to zero, but other Lightspeed vehicles still report multi‑million‑share Class B stakes, each convertible one-for-one into Class A.
Class B shares automatically convert into Class A on September 19, 2035, or earlier at the holder’s option. This structure means Lightspeed-linked entities continue to have substantial potential Class A exposure, and future conversions or sales would appear in subsequent filings.
Insider Trade Summary
| 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 | -- |
| Conversion | Class A Common Stock | 1,650,000 | $0.00 | -- |
| Sale | Class A Common Stock | 1,313,827 | $9.19 | $12.07M |
| 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 | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Footnotes (1)
- Each share of Class B common stock was converted into one share of Class A Common Stock for no additional consideration. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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.
