Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 224

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 224
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, subject in each case to Mr. Sindicich’s continued service through each such vesting date. The performance condition will be deemed satisfied as of the effective date of this offering. 171 Co-Founder Options and RSUs Granted in April 2025 Ariel Cohen In April 2025, we granted Mr. Cohen an option to purchase 1,250,445 shares of our Class A common stock, which will be exchangeable for an equal number of shares of Class B common stock at the election of Mr. Cohen . This option has an exercise price of $22.62 per share and is scheduled to vest and become exercisable with respect to 25% of the total number of shares subject to such option on the one-year anniversary of vesting commencement date, and as to 1/48th of the total number of shares subject to the option monthly thereafter, subject to Mr. Cohen’s continued service through each vesting date. Additionally, in April 2025, we granted Mr. Cohen RSUs settleable for 1,154,925 shares of our Class A common stock, which will be exchangeable for an equal number of shares of Class B common stock at the election of Mr. Cohen upon settlement . The vesting of these RSUs is subject to a time-based service condition and a performance condition, both of which must be satisfied to vest. The time and service condition will be satisfied with respect to (i) 25% of the total number of such RSUs on the first anniversary of the vesting commencement date, and (ii) an additional 1/16th of the total number of such RSUs thereafter on each subsequent Quarterly Vesting Date, subject in each case to Mr. Cohen’s continued service through each such vesting date. The performance condition is satisfied upon certain liquidity events , including this offering. Ilan Twig In April 2025, we granted Mr. Twig an option to purchase 635,788 shares of our Class A common stock, which will be exchangeable for an equal number of shares of Class B common stock at the election of Mr. Twig . This option has an exercise price of $22.62 per share and is scheduled to vest and become exercisable with respect to 25% of the total number of shares subject to such option on the one-year anniversary of vesting commencement date, and as to 1/48th of the total number of shares subject to the option monthly thereafter, subject to Mr. Twig’s continued service through each vesting date.