Lightspeed Venture Partners IX, L.P. 4
4 · Netskope Inc · Filed Jul 9, 2026
Research Summary
AI-generated summary of this filing
Netskope (NTSK) 10% Owner Lightspeed IX Sells ~230K Shares
What Happened
- Lightspeed Venture Partners IX, L.P., a reported 10% holder of Netskope (NTSK), completed conversions of Class B common stock into Class A shares and sold a portion of those shares in open-market transactions. On 2026-07-09 Lightspeed sold 219,075 shares at a weighted-average price of $12.23 for proceeds of $2,679,287. On 2026-07-08 it sold 10,621 shares at a weighted-average price of $11.70 for proceeds of $124,266. Combined proceeds from the reported open-market sales were approximately $2.80 million.
- The filing also shows large conversions and in-kind transfers (zero-dollar entries) between related Lightspeed entities (e.g., conversions of 3,034,693 and 219,075 Class B shares into Class A and internal distributions). Those conversion entries reflect structural moves (Class B → Class A) or intra-fund allocations, not market purchases or sales for cash.
Key Details
- Transaction dates and prices: 2026-07-08 — 10,621 shares sold at $11.70 (weighted avg); 2026-07-09 — 219,075 shares sold at $12.23 (weighted avg). Footnotes indicate sales executed in multiple trades within price ranges ($11.65–$11.73 and $12.02–$12.47).
- Proceeds: Total reported proceeds from the open-market sales ≈ $2,803,553.
- Conversions/derivatives: Multiple C-coded entries show conversion of Class B to Class A shares (see footnotes F1 and F12). Several J-coded zero-dollar entries reflect in-kind distributions or internal transfers among Lightspeed entities.
- Ownership after transaction: Not explicitly stated in this single Form 4; this filing is the first of two related Forms 4 that together report holdings for multiple Lightspeed reporting persons.
- Notable footnotes: F1/F12 — each Class B share converts into one Class A share (some conversions can occur automatically per the charter); various footnotes (F2–F18) explain which Lightspeed entities hold or disclaim beneficial ownership of specific shares.
- Timeliness: Form filed 2026-07-09 reporting transactions on 2026-07-07 through 2026-07-09; no late-filing indication in this filing.
Context
- This activity comes from an institutional 10% owner (Lightspeed-affiliated funds), not an individual executive. Conversions of Class B to Class A are structural and common; the notable market action here is the disposition (sales) of roughly 229.7K shares for ~$2.8M. Institutional sales can be routine (rebalancing, distributions to partners) and do not by themselves indicate management sentiment about the company’s prospects.
Insider Transaction Report
Form 4
Netskope IncNTSK
Lightspeed Venture Partners IX, L.P.
10% Owner
Transactions
- Conversion
Class A Common Stock
[F1][F2]2026-07-07+3,034,693→ 3,034,693 total(indirect: By Lightspeed Venture Partners IX, L.P.) - Other
Class A Common Stock
[F3][F2]2026-07-07−3,034,693→ 0 total(indirect: By Lightspeed Venture Partners IX, L.P.) - Other
Class A Common Stock
[F4][F5]2026-07-07+792,813→ 792,813 total(indirect: By Lightspeed General Partner IX, L.P.) - Other
Class A Common Stock
[F6][F5]2026-07-07−792,813→ 0 total(indirect: By Lightspeed General Partner IX, L.P.) - Other
Class A Common Stock
[F7][F8]2026-07-07+10,621→ 10,621 total(indirect: By Lightspeed Management Company, L.L.C.) - Sale
Class A Common Stock
[F9][F8]2026-07-08$11.70/sh−10,621$124,266→ 0 total(indirect: By Lightspeed Management Company, L.L.C.) - Conversion
Class A Common Stock
[F1][F10]2026-07-09+219,075→ 219,075 total(indirect: By Lightspeed Venture Partners XII, L.P.) - Sale
Class A Common Stock
[F11][F10]2026-07-09$12.23/sh−219,075$2,679,287→ 0 total(indirect: By Lightspeed Venture Partners XII, L.P.) - Conversion
Class B Common Stock
[F1][F12][F2]2026-07-07−3,034,693→ 17,196,593 total(indirect: By Lightspeed Venture Partners IX, L.P.)→ Class A Common Stock (3,034,693 underlying) - Conversion
Class B Common Stock
[F1][F12][F10]2026-07-09−219,075→ 0 total(indirect: By Lightspeed Venture Partners XII, L.P.)→ Class A Common Stock (219,075 underlying)
Holdings
- 15,608,645(indirect: By LLC)
Class B Common Stock
[F12][F13]→ Class A Common Stock (15,608,645 underlying) - 7,765,561(indirect: By LLC)
Class B Common Stock
[F12][F14]→ Class A Common Stock (7,765,561 underlying) - 8,818,610(indirect: By Lightspeed Venture Partners Select, L.P.)
Class B Common Stock
[F12][F15]→ Class A Common Stock (8,818,610 underlying) - 7,508,890(indirect: By Lightspeed Venture Partners Select II, L.P.)
Class B Common Stock
[F12][F16]→ Class A Common Stock (7,508,890 underlying) - 2,690,640(indirect: By Lightspeed Opportunity Fund, L.P.)
Class B Common Stock
[F12][F17]→ Class A Common Stock (2,690,640 underlying) - 500(indirect: By LLC)
Class B Common Stock
[F12][F18]→ Class A Common Stock (500 underlying)
Footnotes (18)
- [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 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.
- [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.