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    Director Zeev Oren converted options into 35,290,576 shares (SEC Form 4)

    11/3/25 7:31:05 PM ET
    $NAVN
    Computer Software: Prepackaged Software
    Technology
    Get the next $NAVN alert in real time by email
    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
    OMB APPROVAL
    OMB Number: 3235-0287
    Estimated average burden
    hours per response: 0.5
      
    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 CA 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)
    X Director X 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
    X 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)
    Code V Amount (A) or (D) Price
    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)
    Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
    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 CA 94301

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    X Director X 10% Owner
    Officer (give title below) Other (specify below)
    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 CA 94301

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    Director X 10% Owner
    Officer (give title below) Other (specify below)
    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 CA 94301

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    Director X 10% Owner
    Officer (give title below) Other (specify below)
    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 CA 94301

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    Director X 10% Owner
    Officer (give title below) Other (specify below)
    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 CA 94301

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    Director X 10% Owner
    Officer (give title below) Other (specify below)
    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 CA 94301

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    Director X 10% Owner
    Officer (give title below) Other (specify below)
    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 CA 94301

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    Director X 10% Owner
    Officer (give title below) Other (specify below)
    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 CA 94301

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    Director X 10% Owner
    Officer (give title below) Other (specify below)
    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 CA 94301

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    Director X 10% Owner
    Officer (give title below) Other (specify below)
    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 CA 94301

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    Director X 10% Owner
    Officer (give title below) Other (specify below)
    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.
    * If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
    ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
    Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
    Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
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