Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 23

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 23
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 to shares of our Class A common stock reserved for future issuance under our 2025 Equity Incentive Plan, or the 2025 Plan, which will become effective upon the effectiveness of the registration statement of which this prospectus forms a part, consisting of new shares and up to shares underlying outstanding awards granted under our 2015 Plan that , after the date the 2025 Plan becomes effective, either are not issued (due to the awards expir ing or being settled in cash) , are forfeited or repurchased due to failure to vest , or are withheld to satisfy the exercise, strike, or purchase price or tax withholding obligations ; and • shares of our Class A common stock reserved for future issuance under our 2025 Employee Stock Purchase Plan, which will become effective in connection with this offering. Our 2025 Plan and 2025 ESPP provide for annual automatic increases in the number of shares reserved thereunder. See the section titled “Executive Compensation—Equity Plans” for additional information. Unless otherwise noted, the information in this prospectus reflects and assumes the following: • a 1-for-3 reverse stock split of our capital stock that became effective on September 18, 2025; • the conversion of all shares of our redeemable convertible preferred stock outstanding as of July 31, 2025 into shares of Class A common stock in connection with the completion of this 14 offering pursuant to the terms of our amended and restated certificate of incorporation, which we refer to as the Capital Stock Conversion; • shares of our Class A common stock issuable upon the Note Conversion (as defined below); • shares of our Class A common stock issuable upon the SAFE Conversion (as defined below); • the net issuance of shares of Class A common stock in connection with the vesting and settlement of certain RSUs outstanding as of the date of this prospectus subject to time-based service and/or performance-based conditions, for which (i) the time-based service condition was fully or partially satisfied as of such date and (ii) the performance-based condition, if applicable, will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part, which we refer to as the IPO Vesting RSUs, after giving effect to the withholding of shares of our Class A common stock to satisfy the associated estimated tax withholding and remittance obligations (based on the assumed initial public offering price of $ per share, the midpoint of the price range set forth on the cover page of this prospectus, and an assumed