Beri Sanjay 4

What Happened

• Sanjay Beri, CEO, Chairman and a director of Netskope (NTSK), had restricted stock units (RSUs) settle on April 1, 2026. The Form 4 shows a conversion/exercise of derivatives resulting in the acquisition of 1,015,687 shares of Class B common stock (reported at $0 per share). To satisfy tax withholding, 561,475 shares were withheld/disposed at $8.49 per share, totaling $4,766,923. These transactions reflect RSU settlement and routine tax withholding rather than an open-market sale.

Key Details

• Date of transaction: April 1, 2026; Form 4 filed April 3, 2026 (within the standard Form 4 filing window).
• Reported entries on the Form 4: two derivative dispositions (564,270 and 451,417 shares at $0) and one derivative acquisition (1,015,687 shares at $0); a tax-withholding disposition of 561,475 shares at $8.49/share for $4,766,923.
• Shares acquired: 1,015,687 Class B common stock via RSU settlement.
• Shares withheld for taxes: 561,475 shares (code F) — $4,766,923 withheld at $8.49/share (routine tax payment).
• Footnotes of note: F1–F2 (RSUs convert 1:1 to Class B shares; settlement deferred to Apr 1, 2026); F3–F4 (remaining RSUs vest monthly/quarterly on stated schedules); F5–F6 (Class B shares are convertible to Class A on a 1:1 basis); F7 (shares were withheld to satisfy tax liability); F8 (shares held of record by the 2012 Sanjay Beri and Ava Malla Revocable Trust, for which he is trustee).
• Shares owned after the transaction: not specified in the Form 4.

Context

• This was a settlement of compensation RSUs (derivative exercise/conversion), not an open-market purchase or voluntary sale. The withholding of shares to cover tax obligations is a common, administrative step and does not necessarily indicate a change in insider sentiment. Remaining RSU awards will continue to vest per the schedules referenced in the filing.