Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 226

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 226
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 on board committees; • reviewing and recommending to our board of directors any changes to our corporate governance guidelines; • reviewing proposed waivers of the code of conduct for directors and executive officers; • overseeing any program relating to corporate responsibility and sustainability matters; • overseeing the process of evaluating the performance of our board of directors; and • advising our board of directors on governance matters. Compensation Committee Interlocks and Insider Participation None of the members of the compensation committee is currently, or has been at any time, one of our officers or employees. None of our executive officers has served as a member of the board of directors, or as a member of the compensation or similar committee, of any entity that has one or more executive officers who served on our board or compensation committee during fiscal 2025. Director Compensation Director Compensation Prior to this Offering Before this offering, we did not have a formal policy to provide any cash or equity compensation to our non-employee directors for their service on our board of directors or committees of our board of directors. In October 2024, we granted Michael Kourey an RSU award with respect to 243,294 shares of our Class A common stock in connection with his appointment to our board of directors. These RSUs are subject to the same time-based service and performance-based conditions as those granted to our

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named executive officers in fiscal 2025. See the section titled “Executive Compensation—Equity-Based Incentive Awards—RSUs Granted in Fiscal 2025.” In addition, in October 2022, we granted Clara Liang an option to purchase 66,666 shares of Class A common stock in connection with her appointment to our board of directors, which option vests as to 25% of the underlying shares on the one-year anniversary of the September 27, 2022 vesting commencement date, and as to the remaining 75% of the underlying shares in equal monthly installments over the following three years, subject to continued service as a director. In connection with the repricing described below under “Executive Compensation—Equity-Based Incentive Awards—Stock Option Repricing,” in August 2024, the exercise price of this option was reduced to $16.26. The number of shares of our Class A common stock underlying the option, the vesting schedule and the expiration date were unchanged. The incremental compensation expense associated with the repricing of this option is set forth in the “Option Awards” column of the Director Compensation for Fiscal 2025 table below. Previously, in June