Lightspeed Venture Partners Select, L.P. 4
4 · Netskope Inc · Filed Jun 16, 2026
Research Summary
AI-generated summary of this filing
Netskope (NTSK) 10% Owner Lightspeed Select Sells 1.65M Shares
What Happened
- Lightspeed Venture Partners Select, L.P. (a reported 10% holder) converted 1,650,000 Class B shares into Class A common stock (conversion for no additional consideration) and sold the resulting 1,650,000 shares in two open‑market transactions. On 2026-06-12 it sold 1,313,827 shares for a weighted average price of $9.19 (proceeds $12,074,070) and on 2026-06-15 it sold 336,173 shares at $9.00 (proceeds $3,025,557). Total disclosed cash proceeds ≈ $15,099,627.
- These transactions are dispositions (sales), not purchases — typically routine for institutional holders converting and liquidating previously held derivative/convertible positions.
Key Details
- Transaction dates/prices: 6/12/2026 — 1,313,827 shares @ $9.19 (weighted avg; sales ranged $8.71–$9.495 per footnote); 6/15/2026 — 336,173 shares @ $9.00 (weighted avg; sales ranged $8.785–$9.44 per footnote).
- Conversion: 1,650,000 Class B → 1,650,000 Class A shares (no additional consideration) per filing footnotes.
- Total shares converted and sold: 1,650,000; total proceeds ≈ $15.10M.
- Reporting structure: Shares are held via Lightspeed funds and related GP entities; the general partner entities disclaim beneficial ownership except to extent of pecuniary interest (see footnotes F10–F12 and others).
- Shares owned after the transactions: not specified in the excerpt provided; this Form 4 is the second of two filings covering all Lightspeed reporting persons (see remarks).
- Filing: Form 4 filed 2026-06-16 covering activity beginning 2026-06-12. No late‑filing flag was indicated in the information you provided.
Context
- This is institutional activity by a reported 10% owner, not an executive insider. Converting Class B to Class A and selling the shares is a neutral-to-liquidating move by the investor and doesn’t necessarily reflect management sentiment.
- The conversion was a derivative/structural event (Class B → A); the subsequent immediate sales converted those shares to cash. Footnotes provide price ranges and confirm the complex fund/GP ownership structure.
Insider Transaction Report
Form 4
Netskope IncNTSK
Transactions
- Conversion
Class A Common Stock
[F1][F2]2026-06-12+1,650,000→ 1,650,000 total(indirect: By Lightspeed Opportunity Fund, L.P.) - Sale
Class A Common Stock
[F3][F2]2026-06-12$9.19/sh−1,313,827$12,074,070→ 336,173 total(indirect: By Lightspeed Opportunity Fund, L.P.) - Sale
Class A Common Stock
[F4][F2]2026-06-15$9.00/sh−336,173$3,025,557→ 0 total(indirect: By Lightspeed Opportunity Fund, L.P.) - Conversion
Class B Common Stock
[F1][F5][F2]2026-06-12−1,650,000→ 2,690,640 total(indirect: By Lightspeed Opportunity Fund, L.P.)→ Class A Common Stock (1,650,000 underlying)
Holdings
- 20,231,286(indirect: By Lightspeed Venture Partners IX, L.P.)
Class B Common Stock
[F5][F6]→ Class A Common Stock (20,231,286 underlying) - 219,075(indirect: By Lightspeed Venture Partners XII, L.P.)
Class B Common Stock
[F5][F7]→ Class A Common Stock (219,075 underlying) - 15,608,645(indirect: By LLC)
Class B Common Stock
[F5][F8]→ Class A Common Stock (15,608,645 underlying) - 7,765,561(indirect: By LLC)
Class B Common Stock
[F5][F9]→ Class A Common Stock (7,765,561 underlying) - 8,818,610(indirect: By Lightspeed Venture Partners Select, L.P.)
Class B Common Stock
[F5][F10]→ Class A Common Stock (8,818,610 underlying) - 7,508,890(indirect: By Lightspeed Venture Partners Select II, L.P.)
Class B Common Stock
[F5][F11]→ Class A Common Stock (7,508,890 underlying) - 500(indirect: By LLC)
Class B Common Stock
[F5][F12]→ Class A Common Stock (500 underlying)
Footnotes (12)
- [F1]Each share of Class B common stock was converted into one share of Class A Common Stock for no additional consideration.
- [F10]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.
- [F11]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.
- [F12]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.
- [F2]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.
- [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.
- [F6]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.
- [F7]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.
- [F8]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.
- [F9]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.