Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 284

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 284
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 grant any option, right, or warrant to purchase, purchase any option or contract to sell, lend, or otherwise transfer or dispose of any shares of our common stock, or any options or warrants to purchase any of the Lock-Up Securities, whether now owned or hereinafter acquired;

212 • engage in any hedging or other transaction or arrangement that is designed to or that reasonably could be expected to lead to or result in a sale, loan, pledge, or other disposition, or transfer of any of the economic consequences of ownership, in whole or in part, directly or indirectly, of any of the Lock-Up Securities, whether any such transaction or arrangement (or instrument provided for thereunder) would be settled by delivery of common stock or other securities, in cash or otherwise; or • make any demand for or exercise any right with respect to the registration of any of the Lock-Up Securities. Notwithstanding the foregoing: A. if (i) a holder is an employee and is not one of our directors or a member of our executive leadership team (which includes our executive officers), or is a former employee, as of the fifth calendar day prior to the date of the Initial Earnings Release, any such person, 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; and B. the Lock-Up Period will fully terminate on the opening of trading on the second full trading day following the Second Earnings Release. The number of shares eligible for release in the first release period equals approximately million shares, including approximately million shares