Lightspeed General Partner Select II, L.P. 4
4 · Navan, Inc. · Filed Jun 15, 2026
Research Summary
AI-generated summary of this filing
Navan (NAVN) — Lightspeed Select II (10% Owner) Sells Shares
What Happened Lightspeed Venture Partners Select II, L.P. (part of the Lightspeed investor group and a reported 10% owner) disposed of Navan (NAVN) shares in mid‑June 2026. On June 11 the fund made a pro rata, in‑kind distribution of 5,733,765 shares (no cash proceeds). On June 12 and June 15 it sold a total of 2,024,131 shares in open‑market/private transactions for aggregate proceeds of approximately $40.86 million (sales executed at multiple prices; weighted averages reported).
These are institutional transactions (reallocations and open‑market sales) rather than an executive or corporate insider selling personal shares.
Key Details
- Transaction dates: June 11–15, 2026.
- In‑kind distribution (no cash): 5,733,765 shares on 2026-06-11 (footnote: pro rata, in‑kind distribution to GP and LPs).
- Open‑market/private sales: 2,024,131 shares across 2026-06-12 and 2026-06-15 for total proceeds ≈ $40,862,526.
- Examples of reported lots/prices: 197,748 @ $19.77 ($3.91M); 822,069 @ $20.06 ($16.49M); 573,572 @ $20.19 ($11.58M); 430,659 @ $20.62 ($8.88M). Small lot of 83 shares at $20.91 ($1.7k).
- Several sales are reported using weighted‑average prices and executed across multiple transactions (see footnotes for price ranges).
- Shares owned after the transactions are not specified in the excerpt provided; check the full Form 4 filings for post‑transaction holdings.
- This filing is the second of two related Form 4s (split because there are more than 10 reporting persons). No late filing flag is indicated in the provided data.
Context
- This is institutional portfolio activity by a 10% owner (fund reallocation and market sales) and does not reflect trading by a company executive. In‑kind distributions are not sales and typically reflect LP/share allocation rather than a change in the company’s investor base valuation.
- For retail investors, purchases by insiders are often considered more informative than routine institutional distributions or sales; interpret institutional sales as liquidity/events for the fund or its LPs rather than an explicit statement about Navan’s fundamentals.
Insider Transaction Report
Form 4
Navan, Inc.NAVN
Transactions
- Other
Class A Common Stock
[F1][F2]2026-06-11−3,504,825→ 19,860,677 total(indirect: By Lightspeed Venture Partners X, L.P.) - Other
Class A Common Stock
[F3][F4]2026-06-11−2,228,940→ 12,630,655 total(indirect: By Lightspeed Venture Partners Select II, L.P.) - Sale
Class A Common Stock
[F5][F6]2026-06-12$19.77/sh−197,748$3,909,478→ 4,583,241 total(indirect: By Lightspeed Opportunity Fund, L.P.) - Sale
Class A Common Stock
[F7][F6]2026-06-12$20.06/sh−822,069$16,490,704→ 3,761,172 total(indirect: By Lightspeed Opportunity Fund, L.P.) - Sale
Class A Common Stock
[F8][F6]2026-06-12$20.91/sh−83$1,736→ 3,761,089 total(indirect: By Lightspeed Opportunity Fund, L.P.) - Sale
Class A Common Stock
[F9][F6]2026-06-15$20.19/sh−573,572$11,580,419→ 3,187,517 total(indirect: By Lightspeed Opportunity Fund, L.P.) - Sale
Class A Common Stock
[F10][F6]2026-06-15$20.62/sh−430,659$8,880,189→ 2,756,858 total(indirect: By Lightspeed Opportunity Fund, L.P.)
Holdings
- 192,885(indirect: By Lightspeed Affiliates X, L.P.)
Class A Common Stock
[F11] - 587,965(indirect: By Lightspeed Strategic Partners I L.P.)
Class A Common Stock
[F12] - 6,134,518(indirect: By Lightspeed Venture Partners Select III, L.P.)
Class A Common Stock
[F13]
Footnotes (13)
- [F1]Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by Lightspeed Venture Partners X, L.P. ("Lightspeed X") to its general partner and limited partners without additional consideration. The general partner further distributed the shares received in this distribution to its limited partners on a pro rata basis for no consideration.
- [F10]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.3856 to $20.89 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.
- [F11]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.
- [F12]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.
- [F13]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.
- [F2]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.
- [F3]Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by Lightspeed Venture Partners Select II, L.P. ("Lightspeed Select II") to its general partner and limited partners without additional consideration. The general partner further distributed the shares received in this distribution to its limited partners on a pro rata basis for no consideration.
- [F4]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.
- [F5]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.8748 to $19.8741 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.
- [F6]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.
- [F7]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.8752 to $20.8701 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.
- [F8]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.90 to $20.9127 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.
- [F9]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.385 to $20.3849 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.