Lightspeed Venture Partners X, L.P. 4

What Happened
Lightspeed Venture Partners X, L.P. (a reported 10% owner) sold a total of 475,869 Navan (NAVN) shares in open-market transactions on June 16–17, 2026, generating approximately $9,098,184 in proceeds. The individual lots reported were: 398,546 shares at a weighted average price of $19.13 for $7,624,185 (6/16/2026); 47,984 shares at $18.71 for $897,781 (6/17/2026); and 29,339 shares at $19.64 for $576,218 (6/17/2026). These are sales (S) — not purchases or option exercises — and therefore are generally routine dispositions rather than a direct bullish signal.

Key Details

• Transaction dates: June 16, 2026 (398,546 shs) and June 17, 2026 (47,984 + 29,339 shs).
• Reported proceeds: ~$9,098,184 total.
• Reported prices: weighted averages listed above; footnotes show individual trade prices ranged: $18.8945–$19.66, $18.40–$19.39, and $19.40–$19.9957 across the respective lots.
• Shares owned after transaction: Not specified in the provided filing excerpt; the filing notes combined holdings are reported across two Form 4s (this is the first of two filings).
• Ownership structure notes: Shares are held through various Lightspeed funds and general partner entities; those GPs disclaim beneficial ownership except for pecuniary interest.
• Filing date: Form 4 filed June 18, 2026 reporting transactions dated June 16–17, 2026 (appears timely).

Context
This filing documents sales by an institutional 10% investor (Lightspeed) rather than an individual company insider/executive. Such fund-level sales often reflect portfolio management or liquidity needs and should not be interpreted alone as a company-specific endorsement or negative signal. For full post-transaction holdings and the related reporting persons, review the companion Form 4 referenced in the remarks.