Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 261

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 261
---
 our Series C Preferred Stock at a purchase price of $28.0863 per share and 213,627 shares of 192 our Series B Preferred Stock at a purchase price of $28.0863 per share, for aggregate proceeds of approximately $9.0 million. • In March 2022, an entity affiliated with Zeev Ventures entered into a stock transfer agreement with an investor pursuant to which Zeev Ventures purchased 96,962 shares of our Series Seed Preferred Stock at a purchase price of $32.3475 per share, for an aggregate purchase price of approximately $3.1 million. • In February 2022, entities affiliated with Zeev Ventures entered into a stock transfer agreement with a shareholder pursuant to which Zeev Ventures purchased 60,384 shares of common stock at a purchase price of $29.10 per share, for an aggregate purchase price of approximately $1.8 million. Certain Employment Relationships The brother-in-law of Clara Liang, one of our directors, was employed by us until October 2022 as our Chief Information Security Officer. His total compensation for fiscal year 2023 was approximately $310,770. The compensation of Ms. Liang’s brother-in-law was determined in accordance with the Company’s compensation practices applicable to employees with comparable qualifications and responsibilities and holding similar positions. He received benefits available to all our employees, including participation in various employee health and welfare benefit plans, and he was eligible for equity awards on the same general terms and conditions as applicable to employees in similar positions who do not have such family relationships. Ms. Liang joined our board of directors in September 2022. Other Transactions We intend to enter into an exchange agreement with our co-founders, Messrs. Cohen and Twig, effective as of the effectiveness of the registration statement of which this prospectus forms a part, pursuant to which 15,304,696 shares of our Class A common stock held by such co-founders and certain related entities prior to the effectiveness of the registration statement of which this prospectus forms a part will automatically be exchanged for an equivalent number of shares of our Class B common stock immediately prior to the completion of this offering. In addition, following the completion of this offering, and pursuant to Equity Exchange Right Agreements to be entered into between us and each of our co- founders, our co-founders shall have a right (but not an obligation), to require us to exchange any shares of Class A common stock received upon the vesting and settlement of RSUs related