Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 407

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 407
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 of common stock. Conversion Rights - Each share of Preferred Stock is convertible, at the option of the holder, into such number of shares of common stock as is determined by dividing the applicable original issuance price for a share by the applicable conversion price at the time in effect for such share. Each share of

F-75 NAVAN, INC. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (unaudited)

Preferred Stock automatically converts into the number of shares of common stock into which such shares are convertible at the then-effective conversion ratio upon the closing of a public offering of common stock with gross proceeds of at least $100 million as of July 31, 2025 . Redemption Rights - The Preferred Stock is not mandatorily redeemable. It will become redeemable upon the occurrence of certain deemed liquidation events that are considered not solely within the Company’s control. Accordingly, the Preferred Stock is presented in the mezzanine section of the condensed consolidated balance sheets. Voting Rights - The holders of each share of Preferred Stock are entitled to the number of votes equal to the number of shares of common stock into which such shares are convertible. Common Stock The holders of each share of common stock are entitled to one vote for each share of common stock issued and outstanding for the holders. The holders of common stock are also entitled to receive dividends whenever funds are available and when declared by the Board of Directors, subject to the priority rights of holders of all series of Preferred Stock outstanding. Common stock reserved for issuance as of July 31, 2025 and January 31, 2025 is summarized as follows:

|                                                                                                           |         As of 
 July 31, 2025 |     | January 31, 2025 |
|:----------------------------------------------------------------------------------------------------------|--------------:|:----|-----------------:|
| Redeemable convertible preferred stock.........................................................           |   146,360,207 |     |      146,360,207 |
| Stock options issued and outstanding.............................................................         |    41,581,733 |     |       40,971,097 |
| RSUs issued and outstanding...........................................................................    |     7,771,766 |     |        4,653,847 |
| Shares of common stock available for future grants.....................................                   |     5,876,145 |     |        5,486,445 |
| Redeemable convertible preferred stock warrants........................................                   |        40,160 |     |           40,