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Navan, Inc.·4

Jun 15, 8:26 PM ET

Lightspeed General Partner Select II, L.P. 4

Research Summary

AI-generated summary

Updated

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.