Netskope (NTSK) 10% Owner ICONIQ Strategic Partners II Distributes 5.5M Shares

What Happened

• ICONIQ Strategic Partners II, L.P. (a reported >10% holder) reported dispositions on Sept 22, 2026 consisting of two distributions: 3,085,037 Class A shares (from ICONIQ II) and 2,414,963 Class A shares (from ICONIQ II-B), totaling 5,500,000 shares. The shares were distributed for no consideration to limited partners and to ICONIQ GP II, which in turn distributed the shares pro rata to its partners.
• No sale price is reported (N/A) because these were distributions, not open-market sales. The distributions were made under the exemptions in Rules 16a-13 and 16a-9 of the Exchange Act.

Key Details

• Transaction date: September 22, 2026; Form 4 filed Sept 24, 2026 (two days later).
• Shares disposed: 3,085,037 (ICONIQ II) + 2,414,963 (ICONIQ II-B) = 5,500,000 total. Price: N/A (no cash consideration).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Notable footnotes: distributions were pro rata to limited partners and ICONIQ GP II; ICONIQ GP II and related parent/general partner entities and certain individuals (Divesh Makan, William J.G. Griffith, Matthew Jacobson) disclaim beneficial ownership except to the extent of any pecuniary interest. Specific trust holdings mentioned: Makan’s trusts include 583,558 of the distributed shares and Jacobson’s trust includes 171,688 of the distributed shares.
• Filing type: institutional distribution by a 10% owner — not a typical insider sale.

Context

• This was an institutional distribution (internal reallocation among fund partners), not an open-market sale, so it does not directly reflect a partner or manager selling shares for cash.
• For retail investors, purchases by insiders are more often viewed as bullish signals; distributions or gifts like this are administrative and do not necessarily indicate sentiment about the company.