KOUREY MICHAEL R 4

What Happened Michael R. Kourey, a director of Navan, Inc. (NAVN), received a grant of 9,959 restricted stock units (RSUs) on 2026-06-25. The award was recorded at $0.00 per share (an equity compensation grant rather than a purchase), so no cash was exchanged at the time of grant. The RSUs represent contingent rights to receive one share of Class A common stock upon vesting.

Key Details

• Transaction date: 2026-06-25 — Grant (Code A) of 9,959 RSUs at $0.00 per RSU.
• Filing date: 2026-06-29 — timely filed within the SEC Form 4 reporting window.
• Vesting: Time-based service condition; vests in full on the earlier of (i) the first anniversary of the grant or (ii) the issuer’s next annual meeting, subject to continued service (see footnote F1).
• Holdings note: Footnote F2 indicates the reporting person’s holdings include 146,813 RSUs (contingent rights to shares upon vesting). The excerpt does not state total beneficial ownership of fully vested shares after this grant.
• Transaction type: Award/compensation (not a market purchase or sale).

Context RSU grants like this are common director/employee compensation and convert into shares only when they vest. Such awards are routine and do not carry the same market-sentiment weight as open‑market purchases by insiders. When RSUs vest, they typically result in issuance of shares (and may trigger tax withholding), but this filing reports the grant itself, not any sale or transfer of underlying shares.