Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 397

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 397
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 them would have been antidilutive are as follows:

|                                                                                                                              | As of July 31, |     |             |
|                                                                                                                              |           2025 |     |        2024 |
| Redeemable convertible preferred shares..........................................................                            |    146,360,207 |     | 146,360,207 |
| Stock options issued and outstanding.................................................................                        |     41,581,733 |     |  42,009,551 |
| RSUs issued and outstanding...............................................................................                   |      7,771,766 |     |   2,718,566 |
| Warrants to purchase redeemable convertible preferred stock......................                                            |         40,160 |     |      40,160 |
| Warrants to purchase common stock..................................................................                          |      1,211,223 |     |           — |
| Shares of common stock subject to repurchase................................................                                 |         21,751 |     |      79,293 |
| Convertible notes....................................................................................................        |     12,273,965 |     |  16,322,776 |
| SAFEs....................................................................................................................... |      7,526,948 |     |           — |
| Total antidilutive securities....................................................................................            |    216,787,753 |     | 207,530,553 |

NOTE 15 – SUBSEQUENT EVENTS Subsequent events have been evaluated through September 19, 2025, the date these unaudited condensed consolidated financial statements were available to be issued. Since July 31, 2025 and through the date these unaudited condensed consolidated financial statements were available to be reissued, we granted 339,246 stock options that vest over four years based on service-only conditions. We also granted 1,805,274 RSUs that vest upon the satisfaction of both a performance and a service condition, where the performance condition is satisfied by either a sale of the Company or following the effective date of an initial public offering, and the service condition is satisfied generally over a period of four years. In addition, we granted 444,985 RSUs which vest over four years based solely on service-only conditions. On September 18, 2025, the Company effected a one-for-three reverse stock split of its common stock and redeemable convertible preferred stock. All share and per share information has been retroactively adjusted to reflect the stock split for all periods presented. In September 2025,