Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 296

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 296
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 Provisions We and all of our directors and executive officers, the selling stockholders, and other holders of substantially all of our outstanding common stock and securities exercisable for or convertible into our Class A common stock or Class B common stock, have entered or will enter into agreements with the underwriters that restrict our and their ability to sell or transfer shares of our common stock or any options or warrants to purchase any shares of our common stock, or any securities convertible into, exchangeable for or that represent the right to receive shares of our common stock, such shares of common stock, options, rights, warrants or other securities, referred to as the Lock-Up Securities, during the period ending on the earlier of (i) the opening of trading on the second trading day following the Second Earnings Release, or (ii) the date that is 180 days after the date of this prospectus, or the Lock- Up Period. Subject to certain exceptions, we and they will not, and will not cause or direct any of our or their respective affiliates, and will not publicly disclose an intention to, without the prior written consent of Goldman Sachs & Co. LLC and Citigroup Global Markets Inc.: • offer, sell, contract to sell, pledge, grant any option, right, or warrant to purchase, purchase any option or contract to sell, lend, or otherwise transfer or dispose of any shares of our common stock, or any options or warrants to purchase any of the Lock-Up Securities, whether now owned or hereinafter acquired; • engage in any hedging or other transaction or arrangement that is designed to or that reasonably could be expected to lead to or result in a sale, loan, pledge, or other disposition, or transfer of any of the economic consequences of ownership, in whole or in part, directly or indirectly, of any of the Lock-Up Securities, whether any such transaction or arrangement (or instrument provided for thereunder) would be settled by delivery of common stock or other securities, in cash or otherwise; or • make any demand for or exercise any right with respect to the registration of any of the Lock-Up Securities. Notwithstanding the foregoing: A. if (i) a holder is an employee and is not one of our directors or officers within the meaning of Section 16 of the Exchange Act, or is a former employee, as of and including the fifth calendar day prior to the date of the Initial Earnings Release, any such person, an Eligible Stockholder, and (ii) the closing price of our Class A common stock