Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 160

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 160
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 condition becomes probable, we will record cumulative stock-based compensation expense for the service period completed to such date and will begin recording stock-based compensation expense using the accelerated attribution method based on the grant-date fair value of the RSUs for awards where the service period is not complete.

Upon the closing of this offering, we will recognize a significant non-cash cumulative stock-based compensation charge for RSUs for which the service-based vesting condition has been satisfied. As of , 2025, the total unrecognized stock-based compensation expense related to RSUs for which the service-based vesting condition had been satisfied or partially satisfied as of , 2025 was approximately $ million, calculated using the accelerated attribution method. Unrecognized stock-based compensation expense related to unvested RSUs that have not met the service condition as of , 2025 was $ million, which would be recognized over a weighted-average period of approximately years if the performance-based condition had occurred on or was probable as of , 2025. We expect to recognize the remaining unrecognized non-cash compensation expense

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for RSUs that were outstanding as of the closing of this offering using the accelerated attribution method, net of forfeitures, as the service-based vesting condition is satisfied. After the closing of this offering, based on RSUs outstanding as of , 2025, we expect that approximately million, million, and million RSUs will satisfy their service-based vesting conditions by each of , , and , respectively, assuming no forfeitures. We may delay the settlement of certain of these vested RSUs until after the expiration of lock-up agreements and market stand-off provisions described elsewhere in this prospectus.

Additionally, as of , 2025, unrecognized stock-based compensation expense related to unvested stock options was $ million, which is expected to be recognized over a weighted-average period of years.

#### Common Stock Valuations
The fair value of our common stock underlying our equity awards was determined by our board of directors, after considering contemporaneous third-party valuations and input from management. The valuations of our common stock were determined in accordance with the guidelines outlined in the American Institute of Certified Public Accountants Practice Aid, Valuation of Privately-Held-Company Equity Securities Issued as Compensation . In the absence of a public trading market, our board of directors, with input from management, exercised significant judgment and considered various objective and subjective factors to determine the fair value of our common stock as of the date of each stock option grant, including the following factors