HOROWITZ BENJAMIN A 4
4 · Navan, Inc. · Filed May 22, 2026
Research Summary
AI-generated summary of this filing
Navan (NAVN) 10% Owner Benjamin A. Horowitz Receives Award
What Happened
Benjamin A. Horowitz, reported as a 10% owner, was granted and acquired 1,012 shares of Navan Class A common stock (recorded as an award/grant, code A) on 2026-05-20 at an attributable price of $18.54 per share, for a total value of approximately $18,762. The award represents restricted stock units that were fully vested on the grant date and were issued in lieu of a cash board retainer.
Key Details
- Transaction date: 2026-05-20; per-share value shown: $18.54; total value ≈ $18,762.
- Grant type: Award/Grant (A) — restricted stock units (RSUs) that vested on grant date.
- Purpose: Issued in lieu of a cash retainer for board service (footnote indicates $18,750 retainer amount).
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Ownership/filing notes: Reporting Person is identified as a 10% owner; multiple footnotes (F2–F9) clarify many shares are held of record by various Andreessen Horowitz funds and managed entities and include standard disclaimers about beneficial ownership.
- Filing timeliness: Reported on 2026-05-22 for a 2026-05-20 transaction — within the typical two-business-day Form 4 window (filed timely).
Context
This was an award (RSUs issued and vested) in lieu of a board cash retainer, not an open-market purchase or sale. For retail investors, such board retainer awards are routine compensation and do not necessarily signal a change in an insider’s market view. Footnotes indicate substantial related-party/institutional holdings via Andreessen Horowitz funds; the Reporting Person disclaims beneficial ownership of those fund-held shares except to the extent of any pecuniary interest.
Insider Transaction Report
Form 4
Navan, Inc.NAVN
HOROWITZ BENJAMIN A
Director10% Owner
Transactions
- Award
Class A Common Stock
[F1]2026-05-20$18.54/sh+1,012$18,762→ 1,012 total
Holdings
- 8,346,792(indirect: By Andreessen Horowitz LSV Fund II, L.P.)
Class A Common Stock
[F2] - 6,757,090(indirect: By Andreessen Horowitz LSV Fund I, L.P.)
Class A Common Stock
[F3] - 607,161(indirect: By Andreessen Horowitz LSV Fund III, L.P.)
Class A Common Stock
[F4][F5] - 2,081,772(indirect: By Andreessen Horowitz Fund V, L.P.)
Class A Common Stock
[F6] - 17,001(indirect: By CLF Partners, LP)
Class A Common Stock
[F7] - 10,408,860(indirect: By AH Parallel Fund V, L.P.)
Class A Common Stock
[F8][F9]
Footnotes (9)
- [F1]Represents Class A Common Stock underlying restricted stock units that are fully vested on the grant date issued to the Reporting Person in lieu of a cash retainer for board service in the amount of $18,750.
- [F2]These shares are held of record by Andreessen Horowitz LSV Fund II, L.P. ("AH LSV Fund II"), for itself and as nominee for Andreessen Horowitz LSV Fund II-B, L.P. and Andreessen Horowitz LSV Fund II-Q, L.P. (collectively, the "AH LSV Fund II Entities"). AH Equity Partners LSV II, L.L.C. ("AH EP LSV II "), the general partner of AH LSV Fund II, may be deemed to have sole voting and dispositive power over the shares held by the AH LSV Fund II Entities. The Reporting Person and Marc Andreessen are the managing members of AH EP LSV II and may be deemed to have shared voting and dispositive power over the shares held by the AH LSV Fund II Entities. The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH LSV Fund II Entities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.
- [F3]These shares are held of record by Andreessen Horowitz LSV Fund I, L.P. ("AH LSV Fund I"), for itself and as nominee for Andreessen Horowitz LSV Fund I-B, L.P. and Andreessen Horowitz LSV Fund I-Q, L.P. (collectively, the "AH LSV Fund I Entities"). AH Equity Partners LSV I, L.L.C. ("AH EP LSV I"), the general partner of AH LSV Fund I, may be deemed to have sole voting and dispositive power over the shares held by the AH LSV Fund I Entities. The Reporting Person and Marc Andreessen are the managing members of AH EP LSV I and may be deemed to have shared voting and dispositive power over the shares held by the AH LSV Fund I Entities. The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH LSV Fund I Entities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.
- [F4]These shares are held of record by Andreessen Horowitz LSV Fund III, L.P. ("AH LSV Fund III"), for itself and as nominee for Andreessen Horowitz LSV Fund III-B, L.P., AH 2022 Annual Fund, L.P., AH 2022 Annual Fund-B, L.P., and AH 2022 Annual Fund-QC, L.P. (collectively, the "AH LSV Fund III Entities"). AH Equity Partners LSV III, L.L.C. ("AH EP LSV III"), the general partner of AH LSV Fund III, may be deemed to have sole voting and dispositive power over the shares held by the AH LSV Fund III Entities.
- [F5](Continued from Footnote 4) The Reporting Person and Marc Andreessen are the managing members of AH EP LSV III and may be deemed to have shared voting and dispositive power over the shares held by the AH LSV Fund III Entities. The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH LSV Fund III Entities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.
- [F6]These shares are held of record by Andreessen Horowitz Fund V, L.P. ("AH Fund V"), for itself and as nominee for Andreessen Horowitz Fund V-A, L.P., Andreessen Horowitz Fund V-B, L.P. and Andreessen Horowitz Fund V-Q, L.P. (collectively, the "AH Fund V Entities"). AH Equity Partners V, L.L.C. ("AH EP V"), the general partner of AH Fund V, may be deemed to have sole voting and dispositive power over the shares held by the AH Fund V Entities. The Reporting Person and Marc Andreessen are the managing members of AH EP V and may be deemed to have shared voting and dispositive power over the shares held by the AH Fund V Entities. The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH Fund V Entities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.
- [F7]These shares are held of record by CLF Partners, LP ("CLF"). AH EP V, the general partner of CLF, may be deemed to have sole voting and dispositive power over the shares held by CLF. The Reporting Person and Marc Andreessen are the managing members of AH EP V and may be deemed to have shared voting and dispositive power over the shares held by CLF. The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by CLF and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.
- [F8]These shares are held of record by AH Parallel Fund V, L.P. ("AH Parallel V"), for itself and as nominee for AH Parallel Fund V-A, L.P., AH Parallel Fund V-B, L.P. and AH Parallel Fund V-Q, L.P. (collectively, the "AH Parallel Fund V Entities"). AH Equity Partners V (Parallel), L.L.C. ("AH EP V Parallel"), the general partner of AH Parallel V, may be deemed to have sole voting and dispositive power over the shares held by the AH Parallel Fund V Entities. The Reporting Person and Marc Andreessen are the managing members of AH EP V Parallel and may be deemed to have shared voting and dispositive power over the shares held by the AH Parallel Fund V Entities.
- [F9](Continued from Footnote 8) The Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH Parallel Fund V Entities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities, except to the extent of his pecuniary interest therein, if any.
Signature
/s/ Phil Hathaway, Attorney-in-Fact for Benjamin Horowitz|2026-05-22