Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 240

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 240
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 As of July 31, 2025, options to purchase 15,531,646 shares had been exercised; options to purchase 41,581,733 shares remained outstanding, with a weighted-average exercise price of $13.32 per share, of which 8,611,649 shares will be exchangeable for an equal number of shares of Class B common stock at the election of our co-founders upon exercise ; and 7,771,766 RSUs were issued and outstanding, of which 1,742,147 shares will be exchangeable for an equal number of shares of Class B common stock at the election of our co-founders upon exercise . As of July 31, 2025, no shares of restricted stock were granted and outstanding under the 2015 Plan. Certain options granted under the 2015 Plan are early exercisable and may be exercised for unvested shares of our Class A common stock subject to a repurchase right. No new awards will be granted under the 2015 Plan after the offering. Administration. Our board of directors, or a duly authorized committee of our board of directors, will administer our 2015 Plan. We sometimes refer to our board of directors, or the applicable committee with the power to administer our equity incentive plans, as the administrator. In this summary of the 2015 Plan, we sometimes refer to our board of directors or the applicable committee with the power to administer the 2015 Plan as the administrator. Subject to the limitations of the 2015 Plan, the administrator’s powers include the authority to (i) construe and interpret the 2015 Plan, any award agreement and any other agreement or document executed pursuant to the 2015 Plan, (ii) prescribe, amend, expand, modify and rescind or terminate rules and regulations relating to the 2015 Plan, (iii) approve persons to receive awards and determine the form and terms of awards, (iv) grant waivers of any conditions of the 2015 Plan or any award, (v) adopt rules and/or procedures (including the adoption of any subplan under the 2015 Plan) relating to the operation and administration of the 2015 Plan to accommodate requirements of local law and procedures outside of the United States, and (vi) make all other determinations necessary or advisable in connection with the administration of the 2015 Plan. Eligibility. Under the 2015 Plan, we may grant incentive stock options, or ISOs, only to our employees or the