Cohen Ariel M. 4
4 · Navan, Inc. · Filed Jun 23, 2026
Research Summary
AI-generated summary of this filing
Navan (NAVN) CEO Ariel M. Cohen Sells 41,530 Shares
What Happened
Ariel M. Cohen, Navan's Chairperson and CEO (also a director), disposed of 41,530 shares of Navan Class A common stock on 2026-06-22 in an open-market sale. The weighted-average price was $21.06, for total proceeds of approximately $874,821. The filing reports this sale as a mandatory "sell-to-cover" to satisfy tax withholding on RSU vesting, not a discretionary sale.
Key Details
- Transaction date (period of report): 2026-06-22; Form 4 filed: 2026-06-23.
- Transaction type/code: Sale (S); weighted-average price reported $21.06; individual sale prices ranged $21.04–$21.77.
- Proceeds: ~$874,821.
- Reason/footnote: Mandatory sell-to-cover for tax withholding on vesting RSUs (Footnote F1). Not a discretionary trade.
- RSUs: Footnote F3 notes 1,086,122 RSUs outstanding for the reporting person (each convertible to one share upon vesting).
- Shares owned after transaction: The filing does not state total post-sale beneficial ownership of vested shares; it does disclose the RSU count in the footnote.
- Filing timeliness: Form filed next day (no late filing indicated).
Context
Sell‑to‑cover transactions are common when restricted stock units vest and taxes are due; the company or filer mandates selling a portion of the vested shares to cover withholding. Such sales generally reflect tax obligations rather than a signal about the insider’s view of the stock.
Insider Transaction Report
- Sale
Class A Common Stock
[F1][F2][F3]2026-06-22$21.06/sh−41,530$874,821→ 1,254,731 total
Footnotes (3)
- [F1]The sale reported on this Form 4 represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units (RSUs). The sale satisfies the tax withholding obligations to be funded by a mandatory "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.
- [F2]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.04 to $21.77, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F3]Includes 1,086,122 RSUs, each of which represents a contingent right to receive one share of Issuer's Class A Common Stock upon vesting.