Sindicich Michael Eric 4

What Happened
Michael Eric Sindicich, President of Navan, sold 2,206 shares of Navan (NAVN) on March 20, 2026. The shares were disposed at a weighted average price of $8.62, for total proceeds of approximately $19,010. The Form 4 notes this sale was a "sell-to-cover" transaction to satisfy tax withholding obligations associated with vested restricted stock units (RSUs), not a discretionary sale.

Key Details

• Transaction date: 2026-03-20; filing date: 2026-03-24. No late filing is indicated in the provided excerpt.
• Price: weighted average $8.62; reported execution prices ranged from $8.57 to $8.62.
• Shares sold: 2,206; proceeds ≈ $19,010.
• Holdings note: the filing references 64,269 RSUs (each representing a contingent right to one share upon vesting). The total shares owned after the transaction are not specified in the provided excerpt.
• Footnotes: F1 — sale made to cover tax withholding for RSU vesting (not a discretionary trade); F2 — weighted-average price with range; F3 — includes 64,269 RSUs.

Context
A "sell-to-cover" is a common method executives use to pay taxes when RSUs vest: enough vested shares are sold to cover tax withholding, and the remainder (if any) is retained. Such transactions are routine and do not necessarily indicate a change in the insider's view of the company. Purchases generally carry more weight as a bullish signal; this filing documents a routine tax-related sale.