Navan (NAVN) president sells 2,176 shares in RSU tax sell-to-cover
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Navan, Inc. president Michael Eric Sindicich reported an open-market sale of 2,176 shares of Class A Common Stock at a weighted average price of $21.0604 per share. The transaction was a mandatory “sell to cover” to satisfy tax withholding obligations related to vesting restricted stock units, and was not a discretionary trade. Following the sale, he directly holds 548,318 shares, including 1,243 shares acquired under the Navan, Inc. 2025 Employee Stock Purchase Plan on June 15, 2026 and 350,538 RSUs, each representing a contingent right to receive one share upon vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 2,176 shares ($45,827)
Net Sell
1 txn
Insider
Sindicich Michael Eric
Role
President
Sold
2,176 shs ($46K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 2,176 | $21.0604 | $46K |
Holdings After Transaction:
Class A Common Stock — 548,318 shares (Direct, null)
Footnotes (1)
- The sale reported on this Form 4 represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units (RSUs). The sale satisfies the tax withholding obligations to be funded by a mandatory "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.04 to $21.64, inclusive. The Reporting Person undertakes to provide 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. Includes (i) 1,243 shares acquired under the Navan, Inc. 2025 Employee Stock Purchase Plan on June 15, 2026 and (ii) 350,538 RSUs, each of which represents a contingent right to receive one share of Issuer's Class A Common Stock upon vesting.
Key Figures
Shares sold: 2,176 shares
Weighted average sale price: $21.0604 per share
Post-transaction holdings: 548,318 shares
+3 more
6 metrics
Shares sold
2,176 shares
Mandatory sell-to-cover for RSU tax withholding
Weighted average sale price
$21.0604 per share
Open-market sale of Class A Common Stock
Post-transaction holdings
548,318 shares
Class A Common Stock held directly after sale
Sale price range
$21.04–$21.64 per share
Multiple transactions within this price range
ESPP shares acquired
1,243 shares
Navan, Inc. 2025 Employee Stock Purchase Plan on June 15, 2026
Restricted stock units
350,538 RSUs
Each RSU represents one share upon vesting
Key Terms
restricted stock units (RSUs), sell to cover, weighted average price, Employee Stock Purchase Plan
4 terms
restricted stock units (RSUs) financial
"in connection with the vesting of restricted stock units (RSUs)."
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
sell to cover financial
"funded by a mandatory "sell to cover" transaction"
Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.
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.
Employee Stock Purchase Plan financial
"acquired under the Navan, Inc. 2025 Employee Stock Purchase Plan"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
