Lightspeed Venture Partners X, L.P. 4

What Happened
Lightspeed Venture Partners X, L.P., a reported 10% owner of Navan, Inc. (NAVN), sold 10,569 shares on July 1, 2026. The shares were disposed of at a weighted-average price of $24.65 per share for aggregate proceeds of approximately $260,526. The filing lists the transaction as a sale (Code S) — a routine disposition by an institutional investor rather than an executive buy signal.

Key Details

• Transaction date: 2026-07-01; Form 4 filed: 2026-07-02 (appears to be filed promptly).
• Price: weighted average $24.65; actual trade prices ranged from $24.58 to $24.71 (footnote F1).
• Shares sold: 10,569; total value ≈ $260,526.
• Shares owned after transaction: not specified in this Form 4 (this filing is one of two filings covering multiple Lightspeed entities).
• Notable footnotes: F1 explains the weighted-average price and range; F2 notes certain shares were received by Lightspeed entities via distributions in kind and were inadvertently omitted from a June 15, 2026 Form 4; F3–F9 describe which related Lightspeed entities hold shares and include standard beneficial-ownership disclaimers.
• Filing split: this is the first of two Form 4s reporting related transactions because more than 10 reporting persons are involved.

Context
This is an institutional sale by a 10% owner (Lightspeed affiliate), not an individual officer or director. Institutional sales are common and do not necessarily indicate management sentiment about the company. The footnotes indicate clerical adjustments and multiple related Lightspeed entities are involved; combined reporting across both Form 4s will show the full picture of holdings and disposals.