Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 362

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 362
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 |            $1,552 |     |   $1,692 |
| Warehouse Credit Facility.....................................................................................    |          $214,238 |     | $206,404 |

________________ (1) Corporate card receivables as of January 31, 2025 and 2024 represent pledged customer receivables from Navan, Inc. to Liquid Labs. NOTE 10 – EQUITY INCENTIVE PLAN 2015 Equity Incentive Plan In 2015, the Company’s Board of Directors (the “Board of Directors”) approved the adoption of the 2015 Equity Incentive Plan (the “Plan”). The Plan provides for the grant of incentive and nonstatutory stock options and RSUs to employees, non-employee directors and consultants of the Company. Options

F-33 NAVAN, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements

granted under the Plan continue to vest until the last day of employment and generally vest over four years and expire 10 years from the date of grant. During the year ended January 31, 2025 , the Board of Directors approved an increase of 4,766,666 shares reserved for issuance, for a total of 64,711,696 shares reserved under the Plan. As of January 31, 2025, 5,486,445 shares of common stock remain available for future grants under the Plan. The exercise price of options granted under the Plan must be at least equal to 100% of the fair value of the Company’s common stock at the date of grant as determined by the Board of Directors. During the years ended January 31, 2025 and 2024, no options have been granted to purchase stock at a price less than its fair value as determined by the Board of Directors at the time of grant. Early Exercise of Common Stock — Certain stock options granted under the Plan provide option holders the right to elect to exercise unvested options in exchange for shares of common stock. Such unvested shares of common stock are subject to a repurchase right held by the Company at the original issuance price in the event the optionee’s service to the Company is terminated either voluntarily or involuntarily. The repurchase right lapses as the underlying shares vest. The proceeds from the early exercise of stock options are treated as a refundable deposit and are recorded within accrued expenses and other liabilities on the consolidated balance sheets, and reclassified to additional paid-in capital as the Company’s repurchase right