ZEEV OREN 4

What Happened

• Zeev Oren, reported as a 10% owner, disclosed multiple pro‑rata, no‑consideration distributions and related transfers of Navan (Class A) stock on June 26 and July 7, 2026. The Form 4 shows disposals of 452,949, 1,576,676 and 1,082,303 shares on the two dates and acquisitions of 567,965 shares on each date as reflected in affiliated entities — all at $0.00 per share (total value $0). Aggregate movement on the two filings sums to 6,277,483 shares moved between affiliated funds, management LLCs and limited partners.
• These transactions were reported using Code J ("other acquisition or disposition") and reflect internal distributions/transfers, not open‑market purchases or sales for cash.

Key Details

• Transaction dates: June 26, 2026 and July 7, 2026. All reported consideration: $0.00 per share.
• Reported share movements (selected): June 26 — 452,949 disposed; 1,576,676 disposed; 567,965 acquired. July 7 — 452,949 disposed; 1,576,676 disposed; 1,082,303 disposed; 567,965 acquired. Total moved: 6,277,483 shares.
• Filing date / timeliness: Form 4 filed July 10, 2026. The filing appears late relative to the 2‑business‑day Form 4 deadline for these transactions.
• Shares owned after transaction: Not specified in the provided summary of the Form 4.
• Notable footnotes: Distributions were made by various Zeev Ventures funds and management entities (e.g., Zeev Ventures II, II‑A, III) to limited partners and management entities for no consideration under Rules 16a‑13 and 16a‑9. Multiple footnotes clarify which entities hold or may be deemed to beneficially own the distributed shares.

Context

• These are internal, pro‑rata fund distributions/transfers (gifts/transfers among related entities) rather than market sales or purchases — such moves generally reflect fund structuring or partner allocations and do not necessarily signal the insider’s view of the stock.
• As a reported 10% owner and managing member of the general partner entities, Oren may be deemed to beneficially own shares held by the funds, per the footnotes; the filing disclaims beneficial ownership beyond pecuniary interest where applicable.
• Because the filing appears late, investors relying on Form 4 timing should note the delay; late filings can reduce the timeliness of insider disclosure but do not change the factual nature of the transfers.