Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 113

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 113
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 shares of Class A common stock, of which 1,742,147 shares will be exchangeable for an equal number of shares of Class B common stock , and warrants outstanding that, if exercised, would result in the issuance of 1,743,032 shares of Class A common stock. We also granted options to purchase 339,246 shares of Class A common stock and 2,250,259 RSUs subsequent to July 31, 2025. All of the shares of Class A common stock issuable upon the exercise of stock options and settlement of RSUs, and the shares reserved for future issuance under our equity incentive plans, will be registered for public resale under the Securities Act. Accordingly, these shares will be able to be freely sold in the public market upon issuance subject to existing lock-up agreements or market standoff provisions and applicable vesting requirements. We anticipate net settling the IPO Vesting RSUs pursuant to the RSU Net Settlement. For RSUs that vest following the effectiveness of the registration statement of which this prospectus forms a part and prior to the expiration of the Lock-Up Period, we expect to satisfy the related tax withholding obligations through sell-to-cover transactions. However, we will continue to have discretion to net-settle rather than sell-to-cover shares underlying these RSUs in order to satisfy the associated tax withholding and remittance obligations. Both the lock-up agreements and the market standoff provisions permit sell-to- 73 cover transactions in connection with the vesting or settlement of RSUs during the Lock-Up Period. As a result, up to approximately 0.2 million shares of our Class A common stock may be sold into the open market during the Lock-Up Period in connection with such sell-to-cover transactions, which number may fluctuate due to, among other things, the actual withholding rate applicable to such RSU settlements. Immediately following this offering, the holders of 156,483,658 shares of our capital stock have rights, subject to some conditions, to require us to file registration statements for the public resale of such capital stock or to include such shares in registration statements that we may file for us or other stockholders. We may also issue our shares of Class A common stock or securities convertible into shares of our Class A common stock from time to time in connection with a financing, acquisition, investments, or otherwise. If we are unable to effectively manage the risks relating to the price of our Class A common stock, our business, financial condition, results of operations, and prospects could be adversely affected. The dual class structure