ICONIQ STRATEGIC PARTNERS II-B, L.P. 4

What Happened
ICONIQ Strategic Partners VI, L.P. — reported as a 10% holder of Netskope (NTSK) — converted an aggregate 42,769,954 shares of the issuer's Class B common stock into an equal number of shares of Class A common stock on March 13, 2026. The Form 4 records these as conversions of derivative securities; the dispositions are reported at $0.00 (no cash proceeds). The filing shows multiple conversions by related ICONIQ funds that together total 42,769,954 shares.

Key Details

• Transaction date: March 13, 2026 (filed March 17, 2026).
• Aggregate shares converted: 42,769,954 (sum of six conversions: 8,127,540; 11,976,293; 18,872,434; 1,931,110; 1,511,670; 350,907).
• Price/value reported: conversions recorded as disposals at $0.00; acquisition entries listed as N/A.
• Form treatment: conversion of derivative security (code C on the Form 4).
• Notable footnotes: each Class B share converts 1:1 into Class A (holder option and automatic conversion provisions noted); related ICONIQ entities and individual filers disclaim beneficial ownership beyond pecuniary interest.
• Filing notes: Form 4 was split into two filings due to SEC e-filing limits; William J.G. Griffith will file separately reporting his beneficial ownership. No late filing is indicated in the remarks provided.

Context

• This was a conversion between share classes — not an open‑market buy or sale — so no cash changed hands. Conversions like this typically reclassify share form (Class B → Class A) on a 1:1 basis as described in the issuer’s charter and the filing.
• As a 10% institutional holder, ICONIQ’s conversion is administrative/structural rather than an executive stock trade; it does not necessarily signal a buy/sell view of the company.