Navan (NAVN) director receives 9,959 RSU equity award and reports large indirect holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Janmohamed Arif reported acquisition or exercise transactions in this Form 4 filing.
Navan, Inc. director Arif Janmohamed received an equity award of 9,959 restricted stock units (RSUs) of Class A Common Stock. Each RSU represents a right to receive one share at no purchase price.
The RSUs vest in full on the earlier of the first anniversary of the grant date or the next annual meeting of stockholders following the grant, subject to his continued service through the vesting date. After this filing, he also has indirect interests in 2,280,989 shares held by Lightspeed Opportunity Fund, L.P., 587,965 shares held by Lightspeed Strategic Partners I L.P., and 40,709 shares held by a family trust, all of which are held through those entities with beneficial ownership disclaimed except for his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Janmohamed Arif
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 9,959 | $0.00 | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 9,959 shares (Direct, null);
Class A Common Stock — 2,280,989 shares (Indirect, By Lightspeed Opportunity Fund, L.P.)
Footnotes (1)
- Represents restricted stock units ("RSUs"), each of which represents a contingent right to receive one share of the Issuer's Class A Common Stock. The RSUs are subject to a time-based service condition. The time-based service condition will be satisfied in full on the earlier of (i) the first anniversary of the date of the grant or (ii) the date of the Issuer's next annual meeting of stockholders following the date of the grant, subject to the Reporting Person's continued service through such vesting date. 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. The Reporting Person is a director of LUGP Opportunity and shares voting and dispositive power with respect to the shares held by Opportunity. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his 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. The Reporting Person is a manager of LUGP Strategic and shares voting and dispositive power with respect to the shares held by Strategic. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. Shares are held by a family trust, of which the Reporting Person is a trustee. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his proportionate pecuniary interest therein.
Key Figures
RSU grant size: 9,959 RSUs
RSU grant price: $0.00 per share
Indirect holdings via Opportunity Fund: 2,280,989 shares
+3 more
6 metrics
RSU grant size
9,959 RSUs
Equity award of Class A Common Stock
RSU grant price
$0.00 per share
Transaction price for RSU grant
Indirect holdings via Opportunity Fund
2,280,989 shares
Class A Common Stock held by Lightspeed Opportunity Fund, L.P.
Indirect holdings via Strategic Partners
587,965 shares
Class A Common Stock held by Lightspeed Strategic Partners I L.P.
Indirect holdings via family trust
40,709 shares
Class A Common Stock held by family trust
Unknown transaction entries
3 entries
Holding-type records with unknown transaction code
Key Terms
restricted stock units ("RSUs"), time-based service condition, annual meeting of stockholders, disclaims beneficial ownership, +1 more
5 terms
restricted stock units ("RSUs") financial
"Represents restricted stock units ("RSUs"), each of which represents a contingent right to receive one share"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
time-based service condition financial
"The RSUs are subject to a time-based service condition."
annual meeting of stockholders financial
"the date of the Issuer's next annual meeting of stockholders following the date of the grant"
disclaims beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein."
pecuniary interest financial
"except to the extent of his pecuniary interest therein."
