Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 297

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 297
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, in cash or otherwise; or • make any demand for or exercise any right with respect to the registration of any shares of our common stock, or any securities convertible into, exchangeable for, or that represent the right to receive, shares of our common stock. See the section titled “Shares Eligible for Future Sale” for a discussion of certain transfer restrictions. Notwithstanding the foregoing, if (i) a holder is an Eligible Stockholder, and (ii) the closing price of our Class A common stock 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, 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 outstanding shares of Class A common stock that are held by such Eligible Stockholder as of September 20, 2025, and (ii) the securities convertible into or exchangeable or exercisable for Class A common stock that were directly held by such Eligible Stockholder and fully vested as of September 20, 2025. The number of shares that may be sold following the Initial Earnings Release prior to the Lock-Up Period termination equals approximately shares, including approximately shares issuable upon exercise of vested options and settlement of RSUs. For these purposes, the Initial Earnings Release means our public announcement of earnings for the fiscal quarter ending October 31, 2025. Subject to certain additional limitations, including those relating to public filings required to be or voluntarily made in connection with a transfer, the restrictions contained in the lock-up agreements do not apply to: i. transfers as bona fide gifts or charitable contributions, or for bona fide estate planning purposes; ii. transfers upon death by will, testamentary document, or the laws of intestate succession; iii. transfers to immediate family members or to any trust for the direct or indirect benefit of the holder or the immediate family of the holder or, if the holder is a trust, to a trustor or beneficiary of the trust or the estate of a beneficiary of such trust; 222 iv. transfers to a