Lightspeed Venture Partners X, L.P. 4
4 · Navan, Inc. · Filed Jul 9, 2026
Research Summary
AI-generated summary of this filing
Navan (NAVN) 10% Owner Lightspeed X Sells 8,983 Shares
What Happened
- Lightspeed Venture Partners X, L.P. (a disclosed 10% owner) reported a series of pro rata, in‑kind distributions and transfers on July 7, 2026 (coded J), and an open‑market sale on July 8, 2026. The open‑market sale was 8,983 Navan shares at a weighted average price of $25.36, generating approximately $227,809 in proceeds.
- The July 7 in‑kind transfers involved several large zero‑price acquisitions and dispositions among related Lightspeed entities (total disposals listed: 6,147,228 shares; total acquisitions listed: 1,080,643 shares), resulting in a net reduction of 5,066,585 shares for the reporting entity in the transactions shown on this filing. The in‑kind transfers are distributions to partners (not purchases or sales for consideration).
Key Details
- Transaction dates: July 7, 2026 (multiple in‑kind transfers, code J) and July 8, 2026 (open‑market sale).
- Open‑market sale: 8,983 shares at a weighted average price of $25.36; proceeds ≈ $227,809. Footnote notes sales occurred in multiple trades at $25.27–$25.53.
- In‑kind transfers: multiple J‑coded entries on July 7 representing pro rata distributions between Lightspeed entities and their partners (see footnotes F1–F6, F9–F13 for details and disclaimers of beneficial ownership by various GP entities).
- Shares owned after transaction: not specified in the provided extract of this filing (see the full Form 4 for post‑transaction holdings).
- Filing timing & structure: Form filed July 9, 2026 for July 7–8 transactions; appears timely. This is the first of two related Form 4s (filings split because there are more than 10 reporting persons).
Context
- These J‑coded in‑kind distributions are internal reallocations to fund partners and are not the same as a market sale or purchase — they generally do not signal a manager buying or selling for personal gain.
- The only cash proceeds reported here come from a small open‑market sale (~$228k). As a 10% institutional owner, Lightspeed’s activity largely reflects fund/partner reallocation rather than insider executive trading.
Insider Transaction Report
Form 4
Navan, Inc.NAVN
Lightspeed Venture Partners X, L.P.
10% Owner
Transactions
- Other
Class A Common Stock
[F1][F2]2026-07-07−2,979,102→ 16,881,575 total(indirect: By Lightspeed Venture Partners X, L.P.) - Other
Class A Common Stock
[F3][F4]2026-07-07−192,885→ 0 total(indirect: By Lightspeed Affiliates X, L.P.) - Other
Class A Common Stock
[F5][F6]2026-07-07−1,894,598→ 10,736,057 total(indirect: By Lightspeed Venture Partners Select II, L.P.) - Other
Class A Common Stock
[F7][F8]2026-07-07+670,005→ 670,005 total(indirect: By Lightspeed General Partner X, L.P.) - Other
Class A Common Stock
[F9][F8]2026-07-07−670,005→ 0 total(indirect: By Lightspeed General Partner X, L.P.) - Other
Class A Common Stock
[F10][F11]2026-07-07+401,655→ 401,655 total(indirect: By Lightspeed General Partner Select II, L.P.) - Other
Class A Common Stock
[F12][F11]2026-07-07−401,655→ 0 total(indirect: By Lightspeed General Partner Select II, L.P.) - Other
Class A Common Stock
[F13][F14]2026-07-07+8,983→ 8,983 total(indirect: By Lightspeed Management Company, L.L.C.) - Sale
Class A Common Stock
[F15][F14]2026-07-08$25.36/sh−8,983$227,809→ 0 total(indirect: By Lightspeed Management Company, L.L.C.)
Holdings
- 2,280,989(indirect: By Lightspeed Opportunity Fund, L.P.)
Class A Common Stock
[F16] - 587,965(indirect: By Lightspeed Strategic Partners I L.P.)
Class A Common Stock
[F17] - 6,134,518(indirect: By Lightspeed Venture Partners Select III, L.P.)
Class A Common Stock
[F18]
Footnotes (18)
- [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.
- [F10]Represents receipt of shares in the distribution in kind described in footnote (5).
- [F11]Shares are held by LGP Select II. LUGP Select II is the general partner of LGP Select II. LUGP Select II disclaims beneficial ownership of these shares except to the extent of its pecuniary interest therein.
- [F12]Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by LGP Select II to its limited partners without additional consideration.
- [F13]Represents receipt of shares in the distributions in kind described in footnotes (9) and (12).
- [F14]The shares held by Lightspeed Management Company, L.L.C.
- [F15]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.27 to $25.53 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.
- [F16]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.
- [F17]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.
- [F18]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 Affiliates X, L.P. ("Affiliates X") to its limited partners without additional consideration.
- [F4]Shares are held by 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.
- [F5]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.
- [F6]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.
- [F7]Represents receipt of shares in the distribution in kind described in footnote (1).
- [F8]Shares are held by LGP X. LUGP X is the general partner of LGP X. LUGP X disclaims beneficial ownership of these shares except to the extent of its pecuniary interest therein.
- [F9]Represents a pro rata, in-kind distribution, and not a purchase or sale of securities, by LGP X to its limited partners without additional consideration.