Company: NAVN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0001628279-25-000383
Chunk: 340

Company: Navan, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 340
---
 |                                  |   -217,778 |     | $                                      | 6.51 |
| Vested                                  |     |                                  |          — |     | $                                      |    — |
| Unvested balance as of January 31, 2025 |     |                                  | 13,962,632 |     | $                                      | 6.73 |

As of January 31, 2025 and 2024, no stock-based compensation expense had been recognized for RSUs because a liquidity event had not yet occurred. When a liquidity event occurs, the Company will record cumulative stock-based compensation expense using the accelerated attribution method for those RSUs for which the service condition has been satisfied prior to the occurrence of the liquidity event. If the liquidity event had occurred on or was probable as of January 31, 2025, the Company would have recorded cumulative stock-based compensation expense of approximately $30.3 million related to RSUs that had previously satisfied the service condition. Unrecognized stock-based compensation expense related to unvested RSUs that have not met the service condition is $63.6 million, which would be recognized over a weighted-average period of approximately 3.7 years if the liquidity event had occurred on or was probable as of January 31, 2025.

#### Stock-based Compensation Expense
Stock-based compensation is included in the following components of expenses within the consolidated statements of operations (in thousands):

|                                                        |     | Year Ended January 31, |   2025 |     |   |   2024 |
|:-------------------------------------------------------|:----|:-----------------------|-------:|:----|:--|-------:|
| Cost of revenue                                        |     | $                      |  4,577 |     | $ |  4,751 |
| Research and development                               |     |                        | 30,408 |     |   | 27,039 |
| Sales and marketing                                    |     |                        | 17,077 |     |   | 15,872 |
| General and administrative                             |     |                        | 24,919 |     |   | 28,189 |
| Total stock-based compensation expense, net of amounts 
 capitalized                                            |     | $                      | 76,981 |     | $ | 75,851 |
| Capitalized stock-based compensation                   |     |                        |  2,319 |     |   |  1,130 |
| Total stock-based compensation cost                    |     | $                      |