Lightspeed funds trim Navan (NAVN) stake with sales and in-kind distributions
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Navan, Inc. major shareholder Lightspeed-affiliated funds reported both open-market sales and internal distributions of Class A Common Stock. Lightspeed Opportunity Fund, L.P. sold a total of 2,024,131 shares in open-market transactions on June 12 and June 15, 2026 at prices including $19.77 and $20.91 per share, and reported 2,756,858 shares held after one of the sales.
Separately, Lightspeed Venture Partners Select II, L.P. and Lightspeed Venture Partners X, L.P. made pro rata, in-kind distributions of 2,228,940 and 3,504,825 shares, respectively, to their general and limited partners for no consideration, characterized as other transactions rather than purchases or sales. As of June 11, 2026, other Lightspeed entities held 6,134,518 shares through Lightspeed Venture Partners Select III, L.P., 587,965 shares through Lightspeed Strategic Partners I L.P., and 192,885 shares through Lightspeed Affiliates X, L.P.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 2,024,131 shares ($40,862,525)
Net Sell
10 txns
Insider
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., Lightspeed Ultimate General Partner Select III, Ltd.
Role
null | null | null | null | null | null
Sold
2,024,131 shs ($40.86M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 573,572 | $20.19 | $11.58M |
| Sale | Class A Common Stock | 430,659 | $20.62 | $8.88M |
| Sale | Class A Common Stock | 197,748 | $19.77 | $3.91M |
| Sale | Class A Common Stock | 822,069 | $20.06 | $16.49M |
| Sale | Class A Common Stock | 83 | $20.91 | $2K |
| Other | Class A Common Stock | 3,504,825 | $0.00 | -- |
| Other | Class A Common Stock | 2,228,940 | $0.00 | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 3,187,517 shares (Indirect, By Lightspeed Opportunity Fund, L.P.)
Footnotes (1)
- Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by Lightspeed Venture Partners X, L.P. ("Lightspeed X") to its general partner and limited partners without additional consideration. The general partner further distributed the shares received in this distribution to its limited partners on a pro rata basis for no consideration. Shares are held by 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. Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by Lightspeed Venture Partners Select II, L.P. ("Lightspeed Select II") to its general partner and limited partners without additional consideration. The general partner further distributed the shares received in this distribution to its limited partners on a pro rata basis for no consideration. Shares are held by 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.8748 to $19.8741 inclusive. The Reporting Persons undertake 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 sold at each separate price within the range set forth in this footnote. 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.8752 to $20.8701 inclusive. The Reporting Persons undertake 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 sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.90 to $20.9127 inclusive. The Reporting Persons undertake 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 sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.385 to $20.3849 inclusive. The Reporting Persons undertake 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 sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.3856 to $20.89 inclusive. The Reporting Persons undertake 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 sold at each separate price within the range set forth in this footnote. 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. 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. 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.
Key Figures
Total shares sold: 2,024,131 shares
Sale price example: $20.62 per share
Largest single sale block: 822,069 shares
+5 more
8 metrics
Total shares sold
2,024,131 shares
Open-market sales by Lightspeed Opportunity Fund, L.P.
Sale price example
$20.62 per share
430,659-share sale of Navan Class A Common Stock
Largest single sale block
822,069 shares
Open-market sale at $20.06 per share
Select II in-kind distribution
2,228,940 shares
Pro rata, in-kind distribution by Lightspeed Venture Partners Select II, L.P.
Lightspeed X in-kind distribution
3,504,825 shares
Pro rata, in-kind distribution by Lightspeed Venture Partners X, L.P.
Select III holdings
6,134,518 shares
Class A Common Stock held by Lightspeed Venture Partners Select III, L.P. as of June 11, 2026
Strategic Partners holdings
587,965 shares
Class A Common Stock held by Lightspeed Strategic Partners I L.P.
Affiliates X holdings
192,885 shares
Class A Common Stock held by Lightspeed Affiliates X, L.P.
Key Terms
pro rata, in-kind distribution, weighted average price, beneficial ownership, pecuniary interest, +2 more
6 terms
pro rata, in-kind distribution financial
"Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by Lightspeed Venture Partners X, L.P."
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficial ownership financial
"Each of LGP X and LUGP X disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of these shares except to the extent of its respective pecuniary interest therein."
open-market sale financial
"transaction_action: "open-market sale" for several Class A Common Stock transactions."
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
other acquisition or disposition financial
"transaction_code_description: "Other acquisition or disposition" for code J transactions."
