Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 104

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 104
---
 this offering will be freely tradable without restrictions or further registration under the Securities Act, except for any shares held by our affiliates as defined in Rule 144 under the Securities Act (including any shares that may be purchased by any of our

<div align='center'>66</div>

affiliates in this offering). The remaining shares of our common stock are subject to the lock-up agreement or market stand-off agreements described below.

Subject to certain exceptions, we, all of our directors and executive officers, and substantially all of the holders of our common stock, or securities exercisable for or convertible into our common stock outstanding immediately prior to this offering, are subject to market stand-off agreements or have agreed not to offer, sell, or agree to sell, directly or indirectly, any shares of common stock without the permission of , on behalf of the underwriters, for a period of days from the date of this prospectus. When the lock-up period expires, we and our securityholders subject to a lock-up agreement or market stand-off agreement will be able to sell our shares in the public market. In addition, , on behalf of the underwriters, may, in its sole discretion, release all or some portion of the shares subject to lock-up agreements prior to the expiration of the lock-up period. See the section titled “Shares Eligible for Future Sale” for more information. Sales of a substantial number of such shares upon expiration of the lock-up and market stand-off agreements, or the perception that such sales may occur, or early release of these agreements, could cause our market price to fall or make it more difficult for you to sell your Class A common stock at a time and price that you deem appropriate.

In addition, as of , 2025, we had options outstanding that, if fully exercised, would result in the issuance of shares of Class A common stock and shares of Class B common stock, restricted stock units, or RSUs, outstanding to be settled in shares of Class A common stock, and warrants outstanding that, if exercised, would result in the issuance of shares of Class A common stock. We also granted options to purchase shares of Class A common stock and shares of Class B common stock, and RSUs to be settled in shares of Class A common stock subsequent to , 2025. All of the shares of Class A common stock and Class B common stock issuable upon the exercise stock options and settlement of RSUs, and the shares reserved for future issuance under our equity incentive plans, will be registered for public resale under