Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 345

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 345
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 2025 and 2024 was $2.1 million and $5.0 million, respectively, which was recognized at the modification date.

During the year ended January 31, 2025, the Company modified stock options for 2,254 employees, one former employee and one member of the Board of Directors by amending the exercise price of the stock options. As a result of the modification, we recognized incremental stock-based compensation expense of $6.0 million for vested stock options on the modification date. An additional $7.0 million of incremental stock-based compensation expense will be recognized for unvested stock options over a weighted average period of 2.3 years as of the modification date.

The following table summarizes stock option activity for the year ended January 31, 2025 (in thousands, except price per share, share and years data):

|                                                    |     | Number of Stock Options Outstanding |             |     | Weighted-Average Exercise Price per Share |      |     | Weighted- Average Remaining Contractual Life 
 (Years)                                      |     |     |     | Aggregate Intrinsic Value |         |
|:---------------------------------------------------|:----|:------------------------------------|------------:|:----|:------------------------------------------|-----:|:----|:---------------------------------------------|----:|----:|:----|:--------------------------|--------:|
| Balance as of January 31, 2024                     |     |                                     | 125,313,916 |     | $                                         | 4.63 |     |                                              |     | 7.8 |     | $                         | 183,079 |
| Granted                                            |     |                                     |  13,278,030 |     | $                                         | 5.62 |     |                                              |     |     |     |                           |         |
| Exercised                                          |     |                                     |  -1,997,981 |     | $                                         | 2.27 |     |                                              |     |     |     | $                         |   9,104 |
| Cancelled/forfeited/expired                        |     |                                     | -13,677,661 |     | $                                         | 5.79 |     |                                              |     |     |     |                           |         |
| Balance as of January 31, 2025                     |     |                                     | 122,916,304 |     | $                                         | 4.27 |     |                                              | 7.0 |     |