Salem Enrique T 4

What Happened

• Enrique T. Salem, a Netskope director, reported conversions of Class B common stock into Class A common stock in December 2025. He converted 200,000 shares on Dec 3, 2025 and 1,220,562 shares on Dec 9, 2025, for a total of 1,420,562 shares. The reported conversions show $0 cash consideration — these were conversions of share class/derivative securities, not open-market purchases or sales.

Key Details

• Transaction dates: Dec 3, 2025 (200,000 shares) and Dec 9, 2025 (1,220,562 shares).
• Reported consideration/price: $0.00 per share (conversion of derivative securities); the Form 4 lists both acquisition and disposition entries associated with the conversion.
• Total shares converted: 1,420,562.
• Shares held of record: These shares are held of record by The Enrique Salem 2017 Grantor Retained Annuity Trust, for which Salem serves as trustee (footnote F2).
• Conversion mechanics: Each Class B share is convertible into one share of Class A on a 1:1 basis (footnote F1); the company’s charter also provides for automatic conversion on or prior to Sept 19, 2035 (footnote F3).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: The Form 4 was filed Apr 3, 2026 for transactions in Dec 2025 — this appears late relative to the standard 2-business-day reporting requirement.

Context

• These filings reflect a change in share class (derivative conversion) rather than a purchase or sale; no cash proceeds were reported. Conversions like this typically adjust the class of shares held (and may affect voting/transfer characteristics per the charter) but do not by themselves indicate a buy/sell view on the market. The shares are held in a trust controlled by the reporting person.