SEC Filing : Navan, Inc.

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SEC FORM 4 SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ZEEV OREN

(Last)

(First)

(Middle)

C/O ZEEV VENTURES,

555 BRYANT STREET, SUITE 811

(Street)

PALO ALTO

94301

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Navan, Inc. [ NAVN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock⁽³⁾	10/31/2025		C		57,264	A	⁽¹⁾	57,264	D
Class A Common Stock	10/31/2025		C		770,077	A	⁽¹⁾	770,077	I	Zeev Opportunity Fund I, L.P.⁽²⁾⁽⁴⁾
Class A Common Stock	10/31/2025		C		4,529,493	A	⁽¹⁾	4,529,493	I	Zeev Ventures II, L.P.⁽²⁾⁽⁵⁾
Class A Common Stock	10/31/2025		C		15,766,767	A	⁽¹⁾	15,766,767	I	Zeev Ventures II-A, L.P.⁽²⁾⁽⁶⁾
Class A Common Stock	10/31/2025		C		9,114,792	A	⁽¹⁾	10,823,032	I	Zeev Ventures III, L.P.⁽²⁾⁽⁷⁾
Class A Common Stock	10/31/2025		C		1,974,957	A	⁽¹⁾	1,974,957	I	Zeev Ventures IV, L.P.⁽²⁾⁽⁸⁾
Class A Common Stock	10/31/2025		C		1,000,915	A	⁽¹⁾	1,000,915	I	Zeev Ventures V, L.P.⁽²⁾⁽⁹⁾
Class A Common Stock	10/31/2025		C		382,900	A	⁽¹⁾	382,900	I	Zeev Ventures VI, L.P.⁽²⁾⁽¹⁰⁾
Class A Common Stock	10/31/2025		C		836,401	A	⁽¹⁾	1,124,268	I	Zeev Ventures VII, L.P.⁽²⁾⁽¹¹⁾
Class A Common Stock	10/31/2025		C		857,010	A	⁽¹⁾	917,394	I	Zeev Ventures VIII, L.P.⁽²⁾⁽¹²⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Series Seed Preferred Stock⁽³⁾	⁽¹⁾	10/31/2025		C			57,264	⁽¹⁾	⁽¹⁾	Class A Common Stock	57,264	⁽¹⁾	0	D
Series A Preferred Stock	⁽¹⁾	10/31/2025		C			4,529,493	⁽¹⁾	⁽¹⁾	Class A Common Stock	4,529,493	⁽¹⁾	0	I	Zeev Ventures II, L.P.⁽²⁾⁽⁵⁾
Series A Preferred Stock	⁽¹⁾	10/31/2025		C			7,347,850	⁽¹⁾	⁽¹⁾	Class A Common Stock	7,347,850	⁽¹⁾	0	I	Zeev Ventures II-A, L.P.⁽²⁾⁽⁶⁾
Series A-1 Preferred Stock	⁽¹⁾	10/31/2025		C			7,024,053	⁽¹⁾	⁽¹⁾	Class A Common Stock	7,024,053	⁽¹⁾	0	I	Zeev Ventures II-A, L.P.⁽²⁾⁽⁶⁾
Series B Preferred Stock	⁽¹⁾	10/31/2025		C			1,394,864	⁽¹⁾	⁽¹⁾	Class A Common Stock	1,394,864	⁽¹⁾	0	I	Zeev Ventures II-A, L.P.⁽²⁾⁽⁶⁾
Series B Preferred Stock	⁽¹⁾	10/31/2025		C			9,114,792	⁽¹⁾	⁽¹⁾	Class A Common Stock	9,114,792	⁽¹⁾	0	I	Zeev Ventures III, L.P.⁽²⁾⁽⁷⁾
Series C Preferred Stock	⁽¹⁾	10/31/2025		C			1,974,957	⁽¹⁾	⁽¹⁾	Class A Common Stock	1,974,957	⁽¹⁾	0	I	Zeev Ventures IV, L.P.⁽²⁾⁽⁸⁾
Series D Preferred Stock	⁽¹⁾	10/31/2025		C			900,944	⁽¹⁾	⁽¹⁾	Class A Common Stock	900,944	⁽¹⁾	0	I	Zeev Ventures V, L.P.⁽²⁾⁽⁹⁾
Series D Preferred Stock	⁽¹⁾	10/31/2025		C			382,900	⁽¹⁾	⁽¹⁾	Class A Common Stock	382,900	⁽¹⁾	0	I	Zeev Ventures VI, L.P.⁽²⁾⁽¹⁰⁾
Series E Preferred Stock	⁽¹⁾	10/31/2025		C			770,077	⁽¹⁾	⁽¹⁾	Class A Common Stock	770,077	⁽¹⁾	0	I	Zeev Opportunity Fund I, L.P.⁽²⁾⁽⁴⁾
Series E Preferred Stock	⁽¹⁾	10/31/2025		C			481,298	⁽¹⁾	⁽¹⁾	Class A Common Stock	481,298	⁽¹⁾	0	I	Zeev Ventures VII, L.P.⁽²⁾⁽¹¹⁾
Series F Preferred Stock	⁽¹⁾	10/31/2025		C			624,764	⁽¹⁾	⁽¹⁾	Class A Common Stock	624,764	⁽¹⁾	0	I	Zeev Ventures VIII, L.P.⁽²⁾⁽¹²⁾
Series G-1 Preferred Stock	⁽¹⁾	10/31/2025		C			135,284	⁽¹⁾	⁽¹⁾	Class A Common Stock	135,284	⁽¹⁾	0	I	Zeev Ventures VIII, L.P.⁽²⁾⁽¹²⁾
Series Seed Preferred Stock	⁽¹⁾	10/31/2025		C			99,971	⁽¹⁾	⁽¹⁾	Class A Common Stock	99,971	⁽¹⁾	0	I	Zeev Ventures V, L.P.⁽²⁾⁽⁹⁾
Series Seed Preferred Stock	⁽¹⁾	10/31/2025		C			355,103	⁽¹⁾	⁽¹⁾	Class A Common Stock	355,103	⁽¹⁾	0	I	Zeev Ventures VII, L.P.⁽²⁾⁽¹¹⁾
Series Seed Preferred Stock	⁽¹⁾	10/31/2025		C			96,962	⁽¹⁾	⁽¹⁾	Class A Common Stock	96,962	⁽¹⁾	0	I	Zeev Ventures VIII, L.P.⁽²⁾⁽¹²⁾

1. Name and Address of Reporting Person^*

ZEEV OREN

(Last)

(First)

(Middle)

C/O ZEEV VENTURES,

555 BRYANT STREET, SUITE 811

(Street)

PALO ALTO

94301

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ZEEV OPPORTUNITY FUND I, L.P.

(Last)

(First)

(Middle)

C/O ZEEV VENTURES,

555 BRYANT STREET, SUITE 811

(Street)

PALO ALTO

94301

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ZEEV VENTURES II, L.P.

(Last)

(First)

(Middle)

C/O ZEEV VENTURES,

555 BRYANT STREET, SUITE 811

(Street)

PALO ALTO

94301

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ZEEV VENTURES II-A, L.P.

(Last)

(First)

(Middle)

C/O ZEEV VENTURES,

555 BRYANT STREET, SUITE 811

(Street)

PALO ALTO

94301

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ZEEV VENTURES III, L.P.

(Last)

(First)

(Middle)

C/O ZEEV VENTURES,

555 BRYANT STREET, SUITE 811

(Street)

PALO ALTO

94301

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

Zeev Ventures IV, L.P.

(Last)

(First)

(Middle)

C/O ZEEV VENTURES,

555 BRYANT STREET, SUITE 811

(Street)

PALO ALTO

94301

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ZEEV VENTURES V, L.P.

(Last)

(First)

(Middle)

C/O ZEEV VENTURES,

555 BRYANT STREET, SUITE 811

(Street)

PALO ALTO

94301

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ZEEV VENTURES VI, L.P.

(Last)

(First)

(Middle)

C/O ZEEV VENTURES,

555 BRYANT STREET, SUITE 811

(Street)

PALO ALTO

94301

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ZEEV VENTURES VII, L.P.

(Last)

(First)

(Middle)

C/O ZEEV VENTURES,

555 BRYANT STREET, SUITE 811

(Street)

PALO ALTO

94301

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ZEEV VENTURES VIII, L.P.

(Last)

(First)

(Middle)

C/O ZEEV VENTURES,

555 BRYANT STREET, SUITE 811

(Street)

PALO ALTO

94301

(City)

(State)

(Zip)

Explanation of Responses:

1. Each share of Series A Preferred Stock, Series A-1 Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G-1 Preferred Stock, and Series Seed Preferred Stock (collectively, the "Preferred Stock") converted automatically upon closing of the Issuer's initial public offering into Class A common stock of the Issuer (the "Class A Common Stock") on a ratio dependent on the public offering price of the Class A Common Stock in the Issuer's initial public offering without payment of consideration and had no expiration date.

2. Oren Zeev is the managing member of each of Zeev Opportunity Management I, L.L.C., Zeev Ventures Management II, L.L.C., Zeev Ventures Management II-A, L.L.C., Zeev Ventures Management III, L.L.C., Zeev Ventures Management IV, L.L.C., Zeev Ventures Management V, L.L.C., Zeev Ventures Management VI, L.L.C., Zeev Ventures Management VII, L.L.C., and Zeev Ventures Management VIII, L.L.C. (collectively, the "General Partners") and, as such, may be deemed to beneficially own the shares held by each of Zeev Opportunity Fund I, L.P., Zeev Ventures II, L.P., Zeev Ventures II-A, L.P., Zeev Ventures III, L.P., Zeev Ventures IV, L.P., Zeev Ventures V, L.P., Zeev Ventures VI, L.P., Zeev Ventures VII, L.P., and Zeev Ventures VIII, L.P. (collectively, the "Funds"). Oren Zeev has voting and dispositive power over the shares held by the Funds. Each of Oren Zeev and the General Partners disclaims beneficial ownership except to the extent of their pecuniary interest therein, if any.

3. Shares held directly by Oren Zeev. Oren Zeev is a director of the Issuer.

4. Shares held directly by Zeev Opportunity Fund I, L.P. Zeev Opportunity Management I, L.L.C. is the general partner of Zeev Opportunity Fund I, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Opportunity Fund I, L.P.

5. Shares held directly by Zeev Ventures II, L.P. Zeev Ventures Management II, L.L.C. is the general partner of Zeev Ventures II, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures II, L.P.

6. Shares held directly by Zeev Ventures II-A, L.P. Zeev Ventures Management II-A, L.L.C. is the general partner of Zeev Ventures II-A, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures II-A, L.P.

7. Shares held directly by Zeev Ventures III, L.P. Zeev Ventures Management III, L.L.C. is the general partner of Zeev Ventures III, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures III, L.P.

8. Shares held directly by Zeev Ventures IV, L.P. Zeev Ventures Management IV, L.L.C. is the general partner of Zeev Ventures IV, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures IV, L.P.

9. Shares held directly by Zeev Ventures V, L.P. Zeev Ventures Management V, L.L.C. is the general partner of Zeev Ventures V, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures V, L.P.

10. Shares held directly by Zeev Ventures VI, L.P. Zeev Ventures Management VI, L.L.C. is the general partner of Zeev Ventures VI, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures VI, L.P.

11. Shares held directly by Zeev Ventures VII, L.P. Zeev Ventures Management VII, L.L.C. is the general partner of Zeev Ventures VII, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures VII, L.P.

12. Shares held directly by Zeev Ventures VIII, L.P. Zeev Ventures Management VIII, L.L.C. is the general partner of Zeev Ventures VIII, L.P. and, as such, may be deemed to beneficially own the shares held by Zeev Ventures VIII, L.P.

	/s/ Oren Zeev, Director	11/03/2025
	Zeev Opportunity Fund I, L.P., By: Zeev Opportunity Management I, L.L.C., its general partner, By: /s/ Oren Zeev, its managing member	11/03/2025
	Zeev Ventures II, L.P., By: Zeev Ventures Management II, L.L.C., its general partner, By: /s/ Oren Zeev, its managing member	11/03/2025
	Zeev Ventures II-A, L.P., By: Zeev Ventures Management II-A, L.L.C., its general partner, By: /s/ Oren Zeev, its managing member	11/03/2025
	Zeev Ventures III, L.P., By: Zeev Ventures Management III, L.L.C., its general partner, By: /s/ Oren Zeev, its managing member	11/03/2025
	Zeev Ventures IV, L.P., By: Zeev Ventures Management IV, L.L.C., its general partner, By: /s/ Oren Zeev, its managing member	11/03/2025
	Zeev Ventures V, L.P., By: Zeev Ventures Management V, L.L.C., its general partner, By: /s/ Oren Zeev, its managing member	11/03/2025
	Zeev Ventures VI, L.P., By: Zeev Ventures Management VI, L.L.C., its general partner, By: /s/ Oren Zeev, its managing member	11/03/2025
	Zeev Ventures VII, L.P., By: Zeev Ventures Management VII, L.L.C., its general partner, By: /s/ Oren Zeev, its managing member	11/03/2025
	Zeev Ventures VIII, L.P., By: Zeev Ventures Management VIII, L.L.C., its general partner, By: /s/ Oren Zeev, its managing member	11/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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