Navan (NAVN) holder Lightspeed unit sells 10,569 shares in market trade

Rhea-AI Filing Summary

Navan, Inc. disclosed that an entity associated with Lightspeed funds reported an insider transaction in its Class A Common Stock. Lightspeed Management Company, L.L.C. sold 10,569 shares in an open-market transaction at a weighted average price of $24.65 per share, with prices ranging from $24.58 to $24.71. After this sale, Lightspeed Management Company, L.L.C. reported holding no remaining Navan shares. Other reporting entities in the Lightspeed group reported ongoing indirect holdings in Navan through various funds, with individual positions such as 19,860,677 shares held by Lightspeed Venture Partners X, L.P. and 12,630,655 shares held by Lightspeed Venture Partners Select II, L.P., reflecting continued significant fund ownership.

Insider Trade Summary

Net Seller: 10,569 shares ($260,526)

Net Sell 7 txns

Insider 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.

Role null | null | null | null | null | null | null | null | null | null

Sold 10,569 shs ($261K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	10,569	$24.65	$261K
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 0 shares (Indirect, By Lightspeed Management Company, L.L.C.)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.58 to $24.71 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 shares held by Lightspeed Management Company, L.L.C. ("LMC") prior to the reported transaction were received pursuant to distributions in kind, for no additional consideration, by Lightspeed Venture Partners X, L.P. ("Lightspeed X") and Lightspeed Venture Partners Select II, L.P. ("Lightspeed Select II"), as described in a Form 4 filed by the Reporting Persons on June 15, 2026. Such shares were inadvertently omitted from the June 15, 2026 Form 4 as a result of a clerical error. Shares are held by LMC. 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. 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 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. 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 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. 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

Shares sold: 10,569 shares Weighted average sale price: $24.65 per share Post-sale holdings of LMC: 0 shares +5 more

8 metrics

Shares sold 10,569 shares Open-market sale by Lightspeed Management Company, L.L.C.

Weighted average sale price $24.65 per share Navan Class A Common Stock sale range $24.58–$24.71

Post-sale holdings of LMC 0 shares Total Navan shares following the reported transaction

Lightspeed Venture Partners X holdings 19,860,677 shares Indirect Navan holdings by Lightspeed Venture Partners X, L.P.

Lightspeed Select II holdings 12,630,655 shares Indirect Navan holdings by Lightspeed Venture Partners Select II, L.P.

Lightspeed Select III holdings 6,134,518 shares Indirect Navan holdings by Lightspeed Venture Partners Select III, L.P.

Lightspeed Opportunity Fund holdings 2,280,989 shares Indirect Navan holdings by Lightspeed Opportunity Fund, L.P.

Lightspeed Strategic Partners I holdings 587,965 shares Indirect Navan holdings by Lightspeed Strategic Partners I L.P.

Key Terms

weighted average price, distributions in kind, beneficial ownership, pecuniary interest, +1 more

5 terms

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.

distributions in kind financial

"shares held by Lightspeed Management Company, L.L.C. were received pursuant to distributions in kind, for no additional consideration"

beneficial ownership financial

"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"

indirect ownership financial

"ownership_type is indirect and nature_of_ownership lists holdings by various Lightspeed funds"

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 09:32 PM Accepted by SEC EDGAR 07/02/2026 - 09:31 PM Learn about SEC filing dates

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^*

Lightspeed Venture Partners X, L.P.

(Last) (First) (Middle)

C/O LIGHTSPEED VENTURE PARTNERS

2200 SAND HILL ROAD

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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

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

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

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	07/01/2026		S		10,569	D	$24.65(1)	0(2)	I	By Lightspeed Management Company, L.L.C.(3)
Class A Common Stock								19,860,677	I	By Lightspeed Venture Partners X, L.P.(4)
Class A Common Stock								192,885	I	By Lightspeed Affiliates X, L.P.(5)
Class A Common Stock								2,280,989	I	By Lightspeed Opportunity Fund, L.P.(6)
Class A Common Stock								587,965	I	By Lightspeed Strategic Partners I L.P.(7)
Class A Common Stock								12,630,655	I	By Lightspeed Venture Partners Select II, L.P.(8)
Class A Common Stock								6,134,518	I	By Lightspeed Venture Partners Select III, L.P.(9)

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

1. Name and Address of Reporting Person^*

Lightspeed Venture Partners X, L.P.

(Last) (First) (Middle)

C/O LIGHTSPEED VENTURE PARTNERS

2200 SAND HILL ROAD

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

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^*

Lightspeed Affiliates X, L.P.

(Last) (First) (Middle)

C/O LIGHTSPEED VENTURE PARTNERS

2200 SAND HILL ROAD

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

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^*

Lightspeed General Partner X, L.P.

(Last) (First) (Middle)

C/O LIGHTSPEED VENTURE PARTNERS

2200 SAND HILL ROAD

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

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^*

Lightspeed Ultimate General Partner X, Ltd.

(Last) (First) (Middle)

C/O LIGHTSPEED VENTURE PARTNERS

2200 SAND HILL ROAD

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

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^*

Lightspeed Opportunity Fund, L.P.

(Last) (First) (Middle)

C/O LIGHTSPEED VENTURE PARTNERS

2200 SAND HILL ROAD

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

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^*

Lightspeed General Partner Opportunity Fund, L.P.

(Last) (First) (Middle)

C/O LIGHTSPEED VENTURE PARTNERS

2200 SAND HILL ROAD

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

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^*

Lightspeed Ultimate General Partner Opportunity Fund, Ltd.

(Last) (First) (Middle)

C/O LIGHTSPEED VENTURE PARTNERS

2200 SAND HILL ROAD

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

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^*

Lightspeed Strategic Partners I L.P.

(Last) (First) (Middle)

C/O LIGHTSPEED VENTURE PARTNERS

2200 SAND HILL ROAD

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

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^*

Lightspeed Strategic Partners General Partner I L.P.

(Last) (First) (Middle)

C/O LIGHTSPEED VENTURE PARTNERS

2200 SAND HILL ROAD

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

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^*

Lightspeed Strategic Partners Ultimate General Partner I L.L.C.

(Last) (First) (Middle)

C/O LIGHTSPEED VENTURE PARTNERS

2200 SAND HILL ROAD

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.58 to $24.71 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.

2. The shares held by Lightspeed Management Company, L.L.C. ("LMC") prior to the reported transaction were received pursuant to distributions in kind, for no additional consideration, by Lightspeed Venture Partners X, L.P. ("Lightspeed X") and Lightspeed Venture Partners Select II, L.P. ("Lightspeed Select II"), as described in a Form 4 filed by the Reporting Persons on June 15, 2026. Such shares were inadvertently omitted from the June 15, 2026 Form 4 as a result of a clerical error.

3. Shares are held by LMC.

4. 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.

5. 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.

6. 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.

7. 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.

8. 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.

9. 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., Lightspeed Ultimate General Partner Select III, Ltd. and Lightspeed Management Company, L.L.C. 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.

	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	07/02/2026
	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	07/02/2026
	Lightspeed General Partner X, L.P., By: Lightspeed Ultimate General Partner X, Ltd., its General Partner, By /s/ Ravi Mhatre, Director	07/02/2026
	Lightspeed Ultimate General Partner X, Ltd., By /s/ Ravi Mhatre, Director	07/02/2026
	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	07/02/2026
	Lightspeed General Partner Opportunity Fund, L.P., By: Lightspeed Ultimate General Partner Opportunity Fund, Ltd., its General Partner, By /s/ Ravi Mhatre, Director	07/02/2026
	Lightspeed Ultimate General Partner Opportunity Fund, Ltd., By /s/ Ravi Mhatre, Director	07/02/2026
	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	07/02/2026
	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	07/02/2026
	Lightspeed Strategic Partners Ultimate General Partner I L.L.C., By /s/ Ravi Mhatre, Manager	07/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Lightspeed report in Navan (NAVN) shares?

Lightspeed Management Company, L.L.C. reported selling 10,569 shares of Navan Class A Common Stock. The sale was an open-market transaction executed at a weighted average price of $24.65 per share, with individual trades occurring between $24.58 and $24.71.

At what price were the Navan (NAVN) shares sold by the Lightspeed entity?

The 10,569 Navan shares were sold at a weighted average price of $24.65 per share. According to the disclosure, individual sale prices ranged from $24.58 to $24.71, and full trade-level pricing details are available upon request from the issuer or regulators.

How many Navan (NAVN) shares does Lightspeed Management Company hold after this sale?

Following the reported open-market sale, Lightspeed Management Company, L.L.C. reported holding zero Navan shares. The filing shows total shares following the transaction as 0.0000 for this entity, indicating the position reported under its name was fully sold.

Do Lightspeed venture funds still hold Navan (NAVN) shares after this filing?

Yes. Several Lightspeed funds continue to report indirect holdings in Navan. Examples include 19,860,677 shares held by Lightspeed Venture Partners X, L.P. and 12,630,655 shares held by Lightspeed Venture Partners Select II, L.P., along with additional positions in other affiliated funds.

How large was the Lightspeed sale in Navan (NAVN) compared with its fund holdings?

The disclosed sale was 10,569 shares by Lightspeed Management Company, L.L.C., while individual Lightspeed funds still report multi-million-share positions. For example, Lightspeed Venture Partners X, L.P. holds 19,860,677 shares, suggesting the sale was small relative to aggregate fund holdings.

What do the footnotes explain about the Navan (NAVN) insider transactions?

Footnotes clarify that the sale price is a weighted average across multiple trades and that some shares were previously received via in-kind distributions. They also detail which Lightspeed entities legally hold specific Navan share blocks and include standard beneficial ownership disclaimers for certain general partners.