HOROWITZ BENJAMIN A 4

What Happened

• Benjamin A. Horowitz (reported as a 10% owner) received a grant of 9,959 restricted stock units (RSUs) on 2026-06-25. The grant is reported as an "award/acquisition" (code A) at $0.00 (no cash paid).
• Each RSU represents a contingent right to one share of Navan Class A common stock upon vesting. The units will vest in full on the earlier of (i) the first anniversary of the grant date or (ii) the issuer’s next annual meeting of stockholders, subject to Horowitz’s continued service.

Key Details

• Transaction date: 2026-06-25; Filing date: 2026-06-29 (filed by the next business day, timely under Form 4 rules).
• Grant: 9,959 RSUs; reported acquisition price: $0.00.
• Shares owned after transaction: not specified in the excerpt provided.
• Notable footnotes: F1/F2 explain these are time‑based RSUs with the vesting schedule above. Additional footnotes (F3–F10) note many Navan shares are held of record by various Andreessen Horowitz funds and that the Reporting Person disclaims beneficial ownership of those fund‑held shares except to the extent of any pecuniary interest.
• Transaction code: A = Award/Grant.

Context

• RSU grants are a form of compensation and typically subject to service-based vesting; they are not an immediate purchase signal. They become economically meaningful only at vesting (when they convert to shares).
• As a reported 10% owner with affiliations to Andreessen Horowitz funds, filings include standard disclaimers about fund ownership and voting/dispositive powers; this filing documents a personal grant of RSUs rather than an open‑market purchase or sale.