Lightspeed Venture Partners Select, L.P. 4
4 · Netskope Inc · Filed Jul 9, 2026
Research Summary
AI-generated summary of this filing
Netskope (NTSK) - Lightspeed Select (10% Owner) Sells ~230K Shares
What Happened
- Lightspeed Venture Partners Select, L.P. (a reporting 10% owner) converted Class B common stock into Class A shares and sold a total of 229,696 shares in two open-market transactions for approximately $2,803,553. The main cash sales were 10,621 shares on 2026-07-08 at $11.70 ($124,266) and 219,075 shares on 2026-07-09 at a weighted-average $12.23 ($2,679,287).
- The filings also show large conversion entries (derivative code C) on 2026-07-07 and 2026-07-09 of Class B into Class A (3,034,693 and 219,075 shares respectively) and several zero-dollar (J) acquisition/disposition entries, which reflect internal transfers/distributions rather than purchases or market sales.
Key Details
- Transaction dates and prices:
- 2026-07-07: conversion of 3,034,693 Class B → Class A (no cash exchanged).
- 2026-07-08: open-market sale of 10,621 shares @ $11.70 = $124,266.
- 2026-07-09: conversion of 219,075 Class B → Class A; open-market sale of 219,075 shares @ weighted avg $12.23 = $2,679,287 (sales occurred across $12.02–$12.47 per footnote).
- Total cash proceeds reported from open-market sales: ~$2.80 million.
- Shares owned after the transactions are not specified in the excerpt provided.
- Footnotes: Class B converts one-for-one to Class A (F1/F12). Several zero-dollar (J) entries and holdings are attributed to various Lightspeed entities and reflect internal allocations; reporting persons disclaim beneficial ownership except to the extent of pecuniary interest (F10–F18).
- Filing notes: This is the second of two related Form 4s covering multiple Lightspeed reporting persons (filing split because of EDGAR limits). No indication in the provided data that the filing was late.
Context
- These actions appear to be institutional conversions and partial monetizations by a large venture investor, not trades by an individual executive. Conversions (derivative code C) reflect a one-for-one class conversion of shares; the immediate open-market sales indicate a partial liquidity event rather than an option exercise or tax withholding. Retail investors should view this as routine institutional selling/liquidity from a major shareholder, not necessarily a signal about company fundamentals.
Insider Transaction Report
Form 4
Netskope IncNTSK
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.