Janmohamed Arif 4
4 · Netskope Inc · Filed Jun 16, 2026
Research Summary
AI-generated summary of this filing
Netskope (NTSK) Director Janmohamed Arif Sells 1.65M Shares
What Happened
Janmohamed Arif, a director, converted 1,650,000 shares of Class B common stock into Class A common stock (no additional consideration) and disposed of those 1,650,000 shares in open‑market sales. On 2026‑06‑12 he sold 1,313,827 shares at a weighted average price of $9.19 for proceeds of $12,074,070; on 2026‑06‑15 he sold 336,173 shares at a weighted average price of $9.00 for proceeds of $3,025,557. Total reported proceeds from the sales are about $15,099,627.
Key Details
- Transaction dates: conversion and first sale 2026‑06‑12; additional sale 2026‑06‑15. Form filed 2026‑06‑16 (timely).
- Prices: $9.19 (weighted average) for 1,313,827 shares; $9.00 (weighted average) for 336,173 shares. Reported price ranges: $8.71–$9.495 and $8.785–$9.44 (see footnotes).
- Total shares converted and sold: 1,650,000. Total proceeds ≈ $15.10M.
- Shares were held of record by Lightspeed Opportunity Fund, L.P.; Arif is a director of the indirect general partner and disclaims beneficial ownership except to the extent of his pecuniary interest (footnote).
- Conversion detail: each Class B share converts into one Class A share for no additional consideration; Class B also converts automatically on 9/19/2035 per the charter (footnotes).
- Shares owned after the transactions are not stated on the Form 4.
Context
This was a conversion of Class B to Class A shares followed by open‑market sales by an entity controlled at the GP level (institutional holder). The filing does not indicate an option exercise cashless sale or a gift — it reports a conversion and subsequent sales. Such sales are routine disclosures of insider/institutional liquidation; they are factual record of disposition rather than an explicit signal of company outlook.
Insider Transaction Report
- 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)
Footnotes (5)
- [F1]Each share of Class B common stock was converted into one share of Class A Common Stock for no additional consideration.
- [F2]Shares are held by Lightspeed Opportunity Fund, L.P. ("Opportunity"). The Reporting Person is a director of Lightspeed Ultimate General Partner Opportunity Fund Ltd., the indirect general partner of Opportunity, and shares voting and investment power with respect to the shares held of record by Opportunity. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his 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.