BENJAMIN HOROWITZ - 22 Dec 2025 Form 4 Insider Report for Navan, Inc. (NAVN)

Signature
/s/ Phil Hathaway, Attorney-in-Fact for Benjamin Horowitz
Issuer symbol
NAVN
Transactions as of
22 Dec 2025
Net transactions value
+$16,723,633
Form type
4
Filing time
29 Dec 2025, 18:15:27 UTC
Previous filing
19 Dec 2025
Next filing
06 Jan 2026

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
HOROWITZ BENJAMIN A Director, 10%+ Owner C/O NAVAN, INC., 3045 PARK BOULEVARD, PALO ALTO /s/ Phil Hathaway, Attorney-in-Fact for Benjamin Horowitz 29 Dec 2025 0001166586

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NAVN Class A Common Stock Purchase $5,312,381 +334,112 +5.3% $15.90 6,601,058 22 Dec 2025 By Andreessen Horowitz LSV Fund II, L.P. F1, F2
transaction NAVN Class A Common Stock Purchase $3,571,667 +225,484 +3.4% $15.84 6,826,542 23 Dec 2025 By Andreessen Horowitz LSV Fund II, L.P. F2, F3
transaction NAVN Class A Common Stock Purchase $2,651,826 +167,519 +2.5% $15.83 6,994,061 24 Dec 2025 By Andreessen Horowitz LSV Fund II, L.P. F2, F4
transaction NAVN Class A Common Stock Purchase $3,579,808 +229,917 +3.3% $15.57 7,223,978 26 Dec 2025 By Andreessen Horowitz LSV Fund II, L.P. F2, F5
transaction NAVN Class A Common Stock Purchase $1,607,952 +99,502 +1.4% $16.16 7,323,480 29 Dec 2025 By Andreessen Horowitz LSV Fund II, L.P. F2, F6
holding NAVN Class A Common Stock 6,757,090 22 Dec 2025 By Andreessen Horowitz LSV Fund I, L.P. F7
holding NAVN Class A Common Stock 607,161 22 Dec 2025 By Andreessen Horowitz LSV Fund III, L.P. F8, F9
holding NAVN Class A Common Stock 2,081,772 22 Dec 2025 By Andreessen Horowitz Fund V, L.P. F10
holding NAVN Class A Common Stock 17,001 22 Dec 2025 By CLF Partners, LP F11
holding NAVN Class A Common Stock 10,408,860 22 Dec 2025 By AH Parallel Fund V, L.P. F12, F13
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $15.65 to $16.23 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F2 These shares are held of record by Andreessen Horowitz LSV Fund II, L.P. ("AH LSV Fund II"), for itself and as nominee for Andreessen Horowitz LSV Fund II-B, L.P. and Andreessen Horowitz LSV Fund II-Q, L.P. (collectively, the "AH LSV Fund II Entities"). AH Equity Partners LSV II, L.L.C. ("AH EP LSV II "), the general partner of AH LSV Fund II, may be deemed to have sole voting and dispositive power over the shares held by the AH LSV Fund II Entities. The Reporting Person and Marc Andreessen are the managing members of AH EP LSV II and may be deemed to have shared voting and dispositive power over the shares held by the AH LSV Fund II Entities. The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH LSV Fund II Entities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.
F3 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $15.52 to $16.00 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F4 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $15.69 to $16.00 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F5 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $15.48 to $15.85 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F6 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $15.84 to $16.50 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F7 These shares are held of record by Andreessen Horowitz LSV Fund I, L.P. ("AH LSV Fund I"), for itself and as nominee for Andreessen Horowitz LSV Fund I-B, L.P. and Andreessen Horowitz LSV Fund I-Q, L.P. (collectively, the "AH LSV Fund I Entities"). AH Equity Partners LSV I, L.L.C. ("AH EP LSV I"), the general partner of AH LSV Fund I, may be deemed to have sole voting and dispositive power over the shares held by the AH LSV Fund I Entities. The Reporting Person and Marc Andreessen are the managing members of AH EP LSV I and may be deemed to have shared voting and dispositive power over the shares held by the AH LSV Fund I Entities. The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH LSV Fund I Entities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.
F8 These shares are held of record by Andreessen Horowitz LSV Fund III, L.P. ("AH LSV Fund III"), for itself and as nominee for Andreessen Horowitz LSV Fund III-B, L.P., AH 2022 Annual Fund, L.P., AH 2022 Annual Fund-B, L.P., and AH 2022 Annual Fund-QC, L.P. (collectively, the "AH LSV Fund III Entities"). AH Equity Partners LSV III, L.L.C. ("AH EP LSV III"), the general partner of AH LSV Fund III, may be deemed to have sole voting and dispositive power over the shares held by the AH LSV Fund III Entities.
F9 (Continued from Footnote 8) The Reporting Person and Marc Andreessen are the managing members of AH EP LSV III and may be deemed to have shared voting and dispositive power over the shares held by the AH LSV Fund III Entities. The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH LSV Fund III Entities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.
F10 These shares are held of record by Andreessen Horowitz Fund V, L.P. ("AH Fund V"), for itself and as nominee for Andreessen Horowitz Fund V-A, L.P., Andreessen Horowitz Fund V-B, L.P. and Andreessen Horowitz Fund V-Q, L.P. (collectively, the "AH Fund V Entities"). AH Equity Partners V, L.L.C. ("AH EP V"), the general partner of AH Fund V, may be deemed to have sole voting and dispositive power over the shares held by the AH Fund V Entities. The Reporting Person and Marc Andreessen are the managing members of AH EP V and may be deemed to have shared voting and dispositive power over the shares held by the AH Fund V Entities. The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH Fund V Entities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.
F11 These shares are held of record by CLF Partners, LP ("CLF"). AH EP V, the general partner of CLF, may be deemed to have sole voting and dispositive power over the shares held by CLF. The Reporting Person and Marc Andreessen are the managing members of AH EP V and may be deemed to have shared voting and dispositive power over the shares held by CLF. The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by CLF and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.
F12 These shares are held of record by AH Parallel Fund V, L.P. ("AH Parallel V"), for itself and as nominee for AH Parallel Fund V-A, L.P., AH Parallel Fund V-B, L.P. and AH Parallel Fund V-Q, L.P. (collectively, the "AH Parallel Fund V Entities"). AH Equity Partners V (Parallel), L.L.C. ("AH EP V Parallel"), the general partner of AH Parallel V, may be deemed to have sole voting and dispositive power over the shares held by the AH Parallel Fund V Entities. The Reporting Person and Marc Andreessen are the managing members of AH EP V Parallel and may be deemed to have shared voting and dispositive power over the shares held by the AH Parallel Fund V Entities.
F13 (Continued from Footnote 12) The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH Parallel Fund V Entities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.