Lightspeed Venture Partners X, L.P. - 31 Oct 2025 Form 4 Insider Report for Navan, Inc. (NAVN)

Role
10%+ Owner
Signature
Lightspeed Venture Partners X, L.P., By: Lightspeed General Partner X, L.P., its General Partner, By: Lightspeed Ultimate General Partner X, Ltd., its General Partner, By /s/ Ravi Mhatre, Director
Issuer symbol
NAVN
Transactions as of
31 Oct 2025
Net transactions value
$0
Form type
4
Filing time
04 Nov 2025, 17:13:47 UTC
Previous filing
29 Oct 2025
SEC
View on sec.gov

Reporting Owners (10)

Name Relationship Address Signature Signature date CIK
Lightspeed Venture Partners X, L.P. 10%+ Owner C/O LIGHTSPEED VENTURE PARTNERS, 2200 SAND HILL ROAD, MENLO PARK Lightspeed Venture Partners X, L.P., By: Lightspeed General Partner X, L.P., its General Partner, By: Lightspeed Ultimate General Partner X, Ltd., its General Partner, By /s/ Ravi Mhatre, Director 04 Nov 2025 0001602573
Lightspeed Affiliates X, L.P. 10%+ Owner C/O LIGHTSPEED VENTURE PARTNERS, 2200 SAND HILL ROAD, MENLO PARK Lightspeed Affiliates X, L.P., By: Lightspeed General Partner X, L.P., its General Partner, By: Lightspeed Ultimate General Partner X, Ltd., its General Partner, By /s/ Ravi Mhatre, Director 04 Nov 2025 0001617751
Lightspeed General Partner X, L.P. 10%+ Owner C/O LIGHTSPEED VENTURE PARTNERS, 2200 SAND HILL ROAD, MENLO PARK Lightspeed General Partner X, L.P., By: Lightspeed Ultimate General Partner X, Ltd., its General Partner, By /s/ Ravi Mhatre, Director 04 Nov 2025 0001700550
Lightspeed Ultimate General Partner X, Ltd. 10%+ Owner C/O LIGHTSPEED VENTURE PARTNERS, 2200 SAND HILL ROAD, MENLO PARK Lightspeed Ultimate General Partner X, Ltd., By /s/ Ravi Mhatre, Director 04 Nov 2025 0001700549
Lightspeed Opportunity Fund, L.P. 10%+ Owner C/O LIGHTSPEED VENTURE PARTNERS, 2200 SAND HILL ROAD, MENLO PARK Lightspeed Opportunity Fund, L.P., By: Lightspeed General Partner Opportunity Fund, L.P., its General Partner, By: Lightspeed Ultimate General Partner Opportunity Fund, Ltd., its General Partner, By /s/ Ravi Mhatre, Director 04 Nov 2025 0001780948
Lightspeed General Partner Opportunity Fund, L.P. 10%+ Owner C/O LIGHTSPEED VENTURE PARTNERS, 2200 SAND HILL ROAD, MENLO PARK Lightspeed General Partner Opportunity Fund, L.P., By: Lightspeed Ultimate General Partner Opportunity Fund, Ltd., its General Partner, By /s/ Ravi Mhatre, Director 04 Nov 2025 0001980478
Lightspeed Ultimate General Partner Opportunity Fund, Ltd. 10%+ Owner C/O LIGHTSPEED VENTURE PARTNERS, 2200 SAND HILL ROAD, MENLO PARK Lightspeed Ultimate General Partner Opportunity Fund, Ltd., By /s/ Ravi Mhatre, Director 04 Nov 2025 0001980477
Lightspeed Strategic Partners I L.P. 10%+ Owner C/O LIGHTSPEED VENTURE PARTNERS, 2200 SAND HILL ROAD, MENLO PARK Lightspeed Strategic Partners I L.P., By: Lightspeed Strategic Partners General Partner I L.P., its General Partner, By: Lightspeed Strategic Partners Ultimate General Partner I L.L.C., its General Partner, By /s/ Ravi Mhatre, Manager 04 Nov 2025 0001830973
Lightspeed Strategic Partners General Partner I L.P. 10%+ Owner C/O LIGHTSPEED VENTURE PARTNERS, 2200 SAND HILL ROAD, MENLO PARK Lightspeed Strategic Partners General Partner I L.P., By: Lightspeed Strategic Partners Ultimate General Partner I L.L.C., its General Partner, By /s/ Ravi Mhatre, Manager 04 Nov 2025 0001978187
Lightspeed Strategic Partners Ultimate General Partner I L.L.C. 10%+ Owner C/O LIGHTSPEED VENTURE PARTNERS, 2200 SAND HILL ROAD, MENLO PARK Lightspeed Strategic Partners Ultimate General Partner I L.L.C., By /s/ Ravi Mhatre, Manager 04 Nov 2025 0001978866

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NAVN Class A Common Stock Conversion of derivative security +23,365,502 23,365,502 31 Oct 2025 By Lightspeed Venture Partners X, L.P. F1, F2
transaction NAVN Class A Common Stock Conversion of derivative security +192,885 192,885 31 Oct 2025 By Lightspeed Affiliates X, L.P. F1, F3
transaction NAVN Class A Common Stock Conversion of derivative security +4,478,486 +1480% 4,780,989 31 Oct 2025 By Lightspeed Opportunity Fund, L.P. F1, F4
transaction NAVN Class A Common Stock Conversion of derivative security +587,965 587,965 31 Oct 2025 By Lightspeed Strategic Partners I L.P. F1, F5
transaction NAVN Class A Common Stock Conversion of derivative security +14,859,595 14,859,595 31 Oct 2025 By Lightspeed Venture Partners Select II, L.P. F1, F6
transaction NAVN Class A Common Stock Conversion of derivative security +6,134,518 6,134,518 31 Oct 2025 By Lightspeed Venture Partners Select III, L.P. F1, F7

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NAVN Series Seed Preferred Stock Conversion of derivative security -11,744,720 -100% 0 31 Oct 2025 Class A Common Stock 3,914,906 By Lightspeed Venture Partners X, L.P. F1, F2
transaction NAVN Series Seed Preferred Stock Conversion of derivative security -578,656 -100% 0 31 Oct 2025 Class A Common Stock 192,885 By Lightspeed Affiliates X, L.P. F1, F3
transaction NAVN Series A Preferred Stock Conversion of derivative security -12,078,656 -100% 0 31 Oct 2025 Class A Common Stock 4,026,218 By Lightspeed Venture Partners X, L.P. F1, F2
transaction NAVN Series A-1 Preferred Stock Conversion of derivative security -38,230,672 -100% 0 31 Oct 2025 Class A Common Stock 12,743,557 By Lightspeed Venture Partners X, L.P. F1, F2
transaction NAVN Series B Preferred Stock Conversion of derivative security -8,042,464 -100% 0 31 Oct 2025 Class A Common Stock 2,680,821 By Lightspeed Venture Partners X, L.P. F1, F2
transaction NAVN Series B Preferred Stock Conversion of derivative security -40,212,320 -100% 0 31 Oct 2025 Class A Common Stock 13,404,106 By Lightspeed Venture Partners Select II, L.P. F1, F6
transaction NAVN Series C Preferred Stock Conversion of derivative security -13,470,670 -100% 0 31 Oct 2025 Class A Common Stock 4,490,223 By Lightspeed Venture Partners Select III, L.P. F1, F7
transaction NAVN Series C-1 Preferred Stock Conversion of derivative security -4,163,544 -100% 0 31 Oct 2025 Class A Common Stock 1,387,848 By Lightspeed Venture Partners Select II, L.P. F1, F6
transaction NAVN Series D Preferred Stock Conversion of derivative security -7,287,940 -100% 0 31 Oct 2025 Class A Common Stock 2,432,552 By Lightspeed Opportunity Fund, L.P. F1, F4
transaction NAVN Series D Preferred Stock Conversion of derivative security -4,723,666 -100% 0 31 Oct 2025 Class A Common Stock 1,576,654 By Lightspeed Venture Partners Select III, L.P. F1, F7
transaction NAVN Series E Preferred Stock Conversion of derivative security -5,249,132 -100% 0 31 Oct 2025 Class A Common Stock 1,759,626 By Lightspeed Opportunity Fund, L.P. F1, F4
transaction NAVN Series E Preferred Stock Conversion of derivative security -1,148,606 -100% 0 31 Oct 2025 Class A Common Stock 385,038 By Lightspeed Strategic Partners I L.P. F1, F5
transaction NAVN Series F Preferred Stock Conversion of derivative security -649,200 -100% 0 31 Oct 2025 Class A Common Stock 218,667 By Lightspeed Opportunity Fund, L.P. F1, F4
transaction NAVN Series G-1 Preferred Stock Conversion of derivative security -200,273 -100% 0 31 Oct 2025 Class A Common Stock 67,641 By Lightspeed Opportunity Fund, L.P. F1, F4
transaction NAVN Series G-1 Preferred Stock Conversion of derivative security -600,821 -100% 0 31 Oct 2025 Class A Common Stock 202,927 By Lightspeed Strategic Partners I L.P. F1, F5
transaction NAVN Series G-1 Preferred Stock Conversion of derivative security -200,273 -100% 0 31 Oct 2025 Class A Common Stock 67,641 By Lightspeed Venture Partners Select II, L.P. F1, F6
transaction NAVN Series G-1 Preferred Stock Conversion of derivative security -200,273 -100% 0 31 Oct 2025 Class A Common Stock 67,641 By Lightspeed Venture Partners Select III, L.P. F1, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Series Seed, Series A, Series A-1, Series B, Series C, Series C-1, Series D, Series E, Series F and Series G-1 Preferred Stock automatically converted into shares of Class A Common Stock immediately prior to the closing of the Issuer's initial public offering ("IPO") for no additional consideration at a conversion ratio that was dependent upon the initial price per share to the public in the Issuer's IPO.
F2 Shares are held by Lightspeed Venture Partners X, L.P. ("Lightspeed X"). Lightspeed General Partner X, L.P. ("LGP X") is the general partner of Lightspeed X. Lightspeed Ultimate General Partner X, Ltd. ("LUGP X") is the general partner of LGP X. Each of LGP X and LUGP X disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.
F3 Shares are held by Lightspeed Affiliates X, L.P. ("Affiliates X"). LGP X is the general partner of Affiliates X. LUGP X is the general partner of LGP X. Each of LGP X and LUGP X disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.
F4 Shares are held by Lightspeed Opportunity Fund, L.P. ("Opportunity"). Lightspeed General Partner Opportunity Fund, L.P. ("LGP Opportunity") is the general partner of Opportunity. Lightspeed Ultimate General Partner Opportunity Fund, Ltd. ("LUGP Opportunity") is the general partner of LGP Opportunity. Each of LGP Opportunity and LUGP Opportunity disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.
F5 Shares are held by Lightspeed Strategic Partners I L.P. ("Strategic"). Lightspeed Strategic Partners General Partner I L.P. ("LGP Strategic") is the general partner of Strategic. Lightspeed Strategic Partners Ultimate General Partner I L.L.C. ("LUGP Strategic") is the general partner of LGP Strategic. Each of LGP Strategic and LUGP Strategic disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.
F6 Shares are held by Lightspeed Venture Partners Select II, L.P. ("Lightspeed Select II"). Lightspeed General Partner Select II, L.P. ("LGP Select II") is the general partner of Lightspeed Select II. Lightspeed Ultimate General Partner Select II, Ltd. ("LUGP Select II") is the general partner of LGP Select II. Each of LGP Select II and LUGP Select II disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.
F7 Shares are held by Lightspeed Venture Partners Select III, L.P. ("Lightspeed Select III"). Lightspeed General Partner Select III, L.P. ("LGP Select III") is the general partner of Lightspeed Select III. Lightspeed Ultimate General Partner Select III, Ltd. ("LUGP Select III") is the general partner of LGP Select III. Each of LGP Select III and LUGP Select III disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein.

Remarks:

This Form 4 is the first of two Forms 4 filed relating to the same events. Combined, the two Form 4s report the holdings for the following Reporting Persons: Lightspeed Venture Partners X, L.P., Lightspeed Affiliates X, L.P., Lightspeed General Partner X, L.P., Lightspeed Ultimate General Partner X, Ltd., Lightspeed Opportunity Fund, L.P., Lightspeed General Partner Opportunity Fund, L.P., Lightspeed Ultimate General Partner Opportunity Fund, Ltd., Lightspeed Strategic Partners I L.P., Lightspeed Strategic Partners General Partner I L.P., Lightspeed Strategic Partners Ultimate General Partner I L.L.C., Lightspeed Venture Partners Select II, L.P., Lightspeed General Partner Select II, L.P., Lightspeed Ultimate General Partner Select II, Ltd., Lightspeed Venture Partners Select III, L.P., Lightspeed General Partner Select III, L.P. and Lightspeed Ultimate General Partner Select III, Ltd. This Form 4 has been split into two filings because there are more than 10 reporting persons in total, and the SEC's EDGAR filing system limits a single Form 4 to a maximum of 10 reporting persons.