Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 297

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 297
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 on Nasdaq has exceeded 130% of the initial public offering price per share set forth on the cover page of this prospectus for at least five trading days (one of which must be a trading day occurring after the date of the Initial Earnings Release) out of any 10-consecutive trading day period, provided that such release date occurs in a broadly applicable “open trading window” period under our insider trading policy, such Eligible Stockholder may sell in the public market, subject to compliance with our insider trading policy and applicable securities laws, beginning at the opening of trading on the first trading day after the applicable 10-consecutive trading day period, up to 25% of the sum of (i) the aggregate number of shares of Class A common stock that are held by such Eligible Stockholder as of September 20, 2025, and (ii) the aggregate number of shares of Class A common stock subject to options, RSUs, and/or securities convertible into or exchangeable or exercisable for shares of Class A common stock that were fully vested and directly held by such Eligible Stockholder as of September 20, 2025; and 217 B. the Lock-Up Period will fully terminate on the opening of trading on the second trading day following the Second Earnings Release. The number of shares eligible for release in the first release period equals approximately 7.7 million shares, including approximately 5.5 million shares issuable upon exercise of vested options and settlement of RSUs. In addition, our executive officers, directors and holders of a substantially all of our capital stock and securities convertible into or exchangeable for our capital stock are subject to market standoff provisions with us under which they have agreed that, subject to certain exceptions, for a period of 180 days after the date of this prospectus, they will not, directly or indirectly sell, offer to sell, grant any option for the sale of, or otherwise dispose of shares of our Class A common stock. For example, although some of these market standoff provisions do not specifically restrict hedging transactions and others may be subject to different interpretations between us and security holders as to whether they restrict hedging, our Insider Trading Policy prohibits hedging by all of our current directors, officers and employees. Sales, short sales or hedging transactions involving our equity securities, whether before or after this offering and whether or not we believe them to be prohibited, could adversely affect the price of our Class A common stock. As a result of the foregoing, substantially all of our