LIGHTSPEED VENTURE PARTNERS SELECT III, L.P. 4

What Happened
Lightspeed Venture Partners Select II (a 10% institutional holder) reported a series of in‑kind distributions and internal transfers on 2026-07-07, followed by an open‑market sale of 8,983 Navan (NAVN) shares on 2026-07-08. The open‑market sale was reported at a weighted average price of $25.36 for total proceeds of approximately $227,809. The larger zero‑price entries on 2026-07-07 represent pro rata, in‑kind distributions and internal allocations (not purchases or cash sales).

Key Details

• Primary cash transaction: 8,983 shares sold on 2026-07-08; weighted average price $25.36; proceeds ≈ $227,809. Reported sale prices ranged $25.27–$25.53 (footnote F15).
• Multiple 2026-07-07 entries (e.g., 2,979,102; 1,894,598; 670,005; 401,655; 192,885) are reported at $0.00 and are described in footnotes as pro rata, in‑kind distributions to partners (no purchase/sale).
• Filing notes this is the second of two Form 4s covering related reporting persons (split due to >10 reporting persons).
• Shares owned after the reported transactions are not specified in this Form 4.
• Institutional holder (10% owner), not an individual executive — transactions reflect fund/partner distributions and a small open‑market sale.

Context

• In‑kind distributions (footnotes F1, F5, F12, etc.) are fund-side allocations to partners and do not represent market-driven purchases or sales by an executive.
• The only cash-generating activity here was the small open‑market sale (~$228k); that sale alone is modest relative to the large in‑kind movements reported.
• Filing appears timely (Form 4 filed 2026-07-09 reporting transactions dated 2026-07-07/07-08).

If you want, I can pull the companion Form 4 to show combined holdings or list the other reporting entities involved.