Company: NAVN
Filing Date: 2025-11-03
Form Type: 8-K
Source: 0001628280-25-047879
Chunk: 0

Company: Navan, Inc.
Filing Date: 2025-11-03
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01 Entry into a Material Definitive Agreement

Exchange Agreement

On October 29, 2025, in connection with its initial public offering (the “ IPO”), Navan, Inc. (the “ Company”) entered into an exchange agreement (the “ Exchange Agreement”) with Ariel Cohen and Ilan Twig (each, a “ Co-Founder,” and together, the “ Co-Founders”) and certain entities affiliated with the Founders. The Exchange Agreement provides for the exchange of shares of Class A common stock for shares of Class B common stock, effective immediately prior to the sale of the shares of the Company’s Class A common stock in the IPO as part of the closing. The Exchange Agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Equity Exchange Right Agreements

On October 29, 2025, in connection with the IPO, the Company entered into equity exchange right agreements (each an “ Equity Exchange Right Agreement”) with each of the Co-Founders. Each Equity Exchange Right Agreement requires the Company to exchange any shares of Class A common stock received upon the vesting and settlement of restricted stock units related to shares of Class A common stock or upon the exercise of stock options to purchase shares of Class A common stock for an equivalent number of shares of Class B common stock. The Equity Exchange Rights Agreements are attached hereto as Exhibits 10.2 and 10.3 and are incorporated herein by reference.

Item 5.03 Amendments to Articles of Incorporation or Bylaws