Cohen Ariel M. 4

What Happened
Ariel M. Cohen, Chairperson and CEO of Navan, Inc. (NAVN), received a grant of 292,112 restricted stock units (RSUs) on 2026-05-21. The Form 4 reports the acquisition as an award (transaction code A) at $0.00 per share (acquisition value $0). These RSUs represent a contingent right to receive one share of Class A common stock each, subject to vesting.

Key Details

• Transaction date: 2026-05-21; Filing date: 2026-05-26 (Form 4 accession 0001853730-26-000005). The filing appears timely under the Form 4 deadline.
• Transaction type/code: Award (A) — 292,112 RSUs granted; reported price $0.00; acquisition value $0.
• Vesting: Footnote F1 — RSUs are time‑based; 1/16th of the grant vests every quarter, subject to continued service (i.e., quarterly vesting over 16 quarters).
• Holdings note: Footnote F2 states “Includes 1,158,305 RSUs,” indicating a reported RSU component in the total holdings disclosed on the form.
• Shares owned after transaction: Not specified in the provided excerpt of the filing.

Context
RSU grants are a common form of executive compensation and do not represent an open‑market purchase or sale. Because these are time‑based RSUs (quarterly vesting), they vest over time and do not immediately increase freely tradable shares. Such awards are typically routine compensation rather than a direct bullish or bearish trading signal.