Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 312

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 312
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 distributee shall sign and deliver a lock-up agreement. The foregoing restrictions on issuances by us during the Lock-Up Period are subject to certain exceptions, including with respect to: (A) shares to be sold pursuant to the underwriting agreement, (B) the issuance of shares upon the exercise of options or the settlement of RSUs (including net exercise or settlement) as described herein, (C) the issuance of shares upon the conversion or exchange of convertible or exchangeable securities as described herein, (D) the issuance of shares of Class A common stock upon conversion of shares of our Class B common stock, (E) the issuance of shares of Class A common stock or securities convertible into, exchangeable for or that represent the right to receive shares of Class A common stock, in each case pursuant to our equity plans described herein, (F) the issuance of shares of Class A common stock or securities convertible into, exchangeable for or that represent the right to receive shares of Class A common stock in connection with (x) the acquisition by us or any of our subsidiaries of the securities, business, technology, property or other assets of another person or entity or pursuant to an employee benefit plan assumed by us in connection with such acquisition, and the issuance of any such securities pursuant to any such agreement, or (y) our joint ventures, commercial relationships and other strategic relationships, or (G) the filing of any registration statement(s) on Form S-8 relating to the securities granted or to be granted pursuant to (A) our equity plans that are described herein or (B) any assumed employee benefit plan contemplated by clause (F); provided, that the aggregate number of shares of Class A common stock that we may sell or issue or agree to sell or issue pursuant to clause (F) shall not exceed 10% of the total number of shares of our common stock outstanding immediately following the completion of this offering; and provided further, that in the case of clauses (B), (C), (E) and (F), we shall cause each recipient of such securities to execute and deliver to Goldman Sachs & Co. LLC and Citigroup Global Markets Inc., as representatives of the underwriters, on or prior to the issuance of such securities, a lock-up agreement for the remainder of the Lock-Up Period and shall enter stop transfer instructions with our transfer agent and registrar on such securities. Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. may, in their discretion, release any of the securities subject to these lockup agreements at any