Navan (NAVN) Benjamin A. Horowitz Receives Award of 657 Shares

What Happened

• Benjamin A. Horowitz (reported as a 10% owner and Navan board member) received an award of 657 shares of Navan Class A common stock on August 20, 2026. The shares were issued as fully vested RSUs in lieu of a cash board retainer. The reported per‑share amount is $28.56, for a transaction value of approximately $18,764 (filing footnote cites $18,750 as the cash retainer amount).

Key Details

• Transaction type: A = Award/Grant (657 shares issued)
• Transaction date: 2026-08-20; Form 4 filed: 2026-08-24 (filing appears timely under the two-business‑day rule)
• Price/value: $28.56 per share; total ≈ $18,764 (footnote refers to $18,750 retainer)
• Shares owned after transaction: Not explicitly stated in the provided excerpt of the filing
• Notable footnotes: F1 confirms these were RSUs fully vested on grant date issued in lieu of a cash retainer. F2 notes Horowitz also has 9,959 RSUs (contingent rights). Multiple footnotes (F3–F10) describe holdings and disclaimers related to various Andreessen Horowitz funds and state the Reporting Person disclaims beneficial ownership of securities held by those entities except to the extent of any pecuniary interest.

Context

• This was a compensation issuance (board fee converted into vested RSUs), not an open‑market purchase or sale. Such awards are routine board compensation and do not necessarily signal personal buying or selling intent.
• As a reported 10% owner and managing member of several Andreessen Horowitz entities, Horowitz’s filing includes standard fund‑ownership disclosures and disclaimers; these are institutional ownership details rather than an individual open‑market trade.