Andreessen Horowitz LSV Fund III, L.P. - 31 Oct 2025 Form 4 Insider Report for Navan, Inc. (NAVN)

Reporting relationship
10%+ Owner
Issuer ticker
NAVN
Reported as of
31 Oct 2025
Net transaction value
$0
Source evidence Original filing metadata and source links for verification. 5 source fields
SEC form
4
Accepted by SEC
04 Nov 2025, 19:44:59 UTC
Prior SEC filing
29 Oct 2025
Next SEC filing
19 Dec 2025
Source filing
View source filing
Reporting owner 1 detail
Reporting owner signature
Andreessen Horowitz LSV Fund III, L.P., By AH Equity Partners LSV III, L.L.C., Its General Partner, By /s/ Phil Hathaway, Chief Operating Officer

Key filing fact

Andreessen Horowitz LSV Fund III, L.P. filed Form 4 for Navan, Inc. (NAVN) on 04 Nov 2025.

Key facts

  • This page summarizes Andreessen Horowitz LSV Fund III, L.P.'s Form 4 filing for Navan, Inc. (NAVN).
  • 16 reported transactions and 10 derivative rows are listed below.
  • Accepted by SEC: 04 Nov 2025, 19:44.

Change

  • Previous filing in this sequence was filed on 29 Oct 2025.
  • Current net transaction value: $0.

Research use

  • This tells you what this filing adds before you inspect full transaction and derivative tables.
  • You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (8)

CIK 0001889367 Primary reporting owner

Andreessen Horowitz LSV Fund III, L.P.

Relationship
10%+ Owner
Address
C/O ANDREESSEN HOROWITZ, 2865 SAND HILL ROAD, SUITE 101, MENLO PARK
Signature
Andreessen Horowitz LSV Fund III, L.P., By AH Equity Partners LSV III, L.L.C., Its General Partner, By /s/ Phil Hathaway, Chief Operating Officer
Signature date
04 Nov 2025
CIK 0001894619

Andreessen Horowitz LSV Fund III-B, L.P.

Relationship
10%+ Owner
Address
C/O ANDREESSEN HOROWITZ, 2865 SAND HILL ROAD, SUITE 101, MENLO PARK
Signature
Andreessen Horowitz LSV Fund III-B, L.P., By AH Equity Partners LSV III, L.L.C., Its General Partner, By /s/ Phil Hathaway, Chief Operating Officer
Signature date
04 Nov 2025
CIK 0001889893

AH Equity Partners LSV III, L.L.C.

Relationship
10%+ Owner
Address
C/O ANDREESSEN HOROWITZ, 2865 SAND HILL ROAD, SUITE 101, MENLO PARK
Signature
AH Equity Partners LSV III, L.L.C., By /s/ Phil Hathaway, Chief Operating Officer
Signature date
04 Nov 2025
CIK 0001894744

AH 2022 Annual Fund, L.P.

Relationship
10%+ Owner
Address
C/O ANDREESSEN HOROWITZ, 2865 SAND HILL ROAD, SUITE 101, MENLO PARK
Signature
AH 2022 Annual Fund, L.P., By AH Equity Partners 2022 Annual Fund, L.L.C., Its General Partner, By /s/ Phil Hathaway, Chief Operating Officer
Signature date
04 Nov 2025
CIK 0001935421

AH 2022 ANNUAL FUND-B, L.P.

Relationship
10%+ Owner
Address
C/O ANDREESSEN HOROWITZ, 2865 SAND HILL ROAD, SUITE 101, MENLO PARK
Signature
AH 2022 Annual Fund-B, L.P., By AH Equity Partners 2022 Annual Fund, L.L.C., Its General Partner, By /s/ Phil Hathaway, Chief Operating Officer
Signature date
04 Nov 2025
CIK 0001924807

AH 2022 ANNUAL FUND-QC, L.P.

Relationship
10%+ Owner
Address
C/O ANDREESSEN HOROWITZ, 2865 SAND HILL ROAD, SUITE 101, MENLO PARK
Signature
AH 2022 Annual Fund-QC, L.P., By AH Equity Partners 2022 Annual Fund, L.L.C., Its General Partner, By /s/ Phil Hathaway, Chief Operating Officer
Signature date
04 Nov 2025
CIK 0001894740

AH Equity Partners 2022 Annual Fund, L.L.C.

Relationship
10%+ Owner
Address
C/O ANDREESSEN HOROWITZ, 2865 SAND HILL ROAD, SUITE 101, MENLO PARK
Signature
AH Equity Partners 2022 Annual Fund, L.L.C., By /s/ Phil Hathaway, Chief Operating Officer
Signature date
04 Nov 2025
CIK 0001732504

CLF Partners, LP

Relationship
10%+ Owner
Address
C/O ANDREESSEN HOROWITZ, 2865 SAND HILL ROAD, SUITE 101, MENLO PARK
Signature
CLF Partners, LP, By AH Equity Partners V, L.L.C., Its General Partner, By /s/ Phil Hathaway, Chief Operating Officer
Signature date
04 Nov 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

NAVN transaction

Class A Common Stock

Conversion of derivative security

Transaction value
Shares
+6,757,090
Change %
Price
Shares after
6,757,090
Date
31 Oct 2025
Ownership
By Andreessen Horowitz LSV Fund I, L.P.
Footnotes
F1, F2
NAVN transaction

Class A Common Stock

Conversion of derivative security

Transaction value
Shares
+4,305,906
Change %
+339%
Price
Shares after
5,574,551
Date
31 Oct 2025
Ownership
By Andreessen Horowitz LSV Fund II, L.P.
Footnotes
F1, F3
NAVN transaction

Class A Common Stock

Conversion of derivative security

Transaction value
Shares
+607,161
Change %
Price
Shares after
607,161
Date
31 Oct 2025
Ownership
By Andreessen Horowitz LSV Fund III, L.P.
Footnotes
F1, F4, F5
NAVN transaction

Class A Common Stock

Conversion of derivative security

Transaction value
Shares
+2,081,772
Change %
Price
Shares after
2,081,772
Date
31 Oct 2025
Ownership
By Andreessen Horowitz Fund V, L.P.
Footnotes
F1, F6
NAVN transaction

Class A Common Stock

Conversion of derivative security

Transaction value
Shares
+17,001
Change %
Price
Shares after
17,001
Date
31 Oct 2025
Ownership
By CLF Partners, LP
Footnotes
F1, F7
NAVN transaction

Class A Common Stock

Conversion of derivative security

Transaction value
Shares
+10,408,860
Change %
Price
Shares after
10,408,860
Date
31 Oct 2025
Ownership
By AH Parallel Fund V, L.P.
Footnotes
F1, F8, F9

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

NAVN transaction Derivative

Series Seed Preferred Stock

Conversion of derivative security

Transaction value
Shares
-765,736
Change %
-100%
Price
Shares after
0
Date
31 Oct 2025
Ownership
By Andreessen Horowitz LSV Fund II, L.P.
Underlying class
Class A Common Stock
Underlying amount
255,244
Exercise price
Footnotes
F1, F3
NAVN transaction Derivative

Series A Preferred Stock

Conversion of derivative security

Transaction value
Shares
-603,920
Change %
-100%
Price
Shares after
0
Date
31 Oct 2025
Ownership
By Andreessen Horowitz LSV Fund III, L.P.
Underlying class
Class A Common Stock
Underlying amount
201,306
Exercise price
Footnotes
F1, F4, F5
NAVN transaction Derivative

Series C Preferred Stock

Conversion of derivative security

Transaction value
Shares
-6,245,316
Change %
-100%
Price
Shares after
0
Date
31 Oct 2025
Ownership
By Andreessen Horowitz Fund V, L.P.
Underlying class
Class A Common Stock
Underlying amount
2,081,772
Exercise price
Footnotes
F1, F6
NAVN transaction Derivative

Series C Preferred Stock

Conversion of derivative security

Transaction value
Shares
-31,226,580
Change %
-100%
Price
Shares after
0
Date
31 Oct 2025
Ownership
By AH Parallel Fund V, L.P.
Underlying class
Class A Common Stock
Underlying amount
10,408,860
Exercise price
Footnotes
F1, F8, F9
NAVN transaction Derivative

Series C Preferred Stock

Conversion of derivative security

Transaction value
Shares
-41,635
Change %
-100%
Price
Shares after
0
Date
31 Oct 2025
Ownership
By CLF Partners, LP
Underlying class
Class A Common Stock
Underlying amount
13,878
Exercise price
Footnotes
F1, F7
NAVN transaction Derivative

Series D Preferred Stock

Conversion of derivative security

Transaction value
Shares
-20,244,280
Change %
-100%
Price
Shares after
0
Date
31 Oct 2025
Ownership
By Andreessen Horowitz LSV Fund I, L.P.
Underlying class
Class A Common Stock
Underlying amount
6,757,090
Exercise price
Footnotes
F1, F2
NAVN transaction Derivative

Series E Preferred Stock

Conversion of derivative security

Transaction value
Shares
-9,763,156
Change %
-100%
Price
Shares after
0
Date
31 Oct 2025
Ownership
By Andreessen Horowitz LSV Fund II, L.P.
Underlying class
Class A Common Stock
Underlying amount
3,272,830
Exercise price
Footnotes
F1, F3
NAVN transaction Derivative

Series F Preferred Stock

Conversion of derivative security

Transaction value
Shares
-2,309,297
Change %
-100%
Price
Shares after
0
Date
31 Oct 2025
Ownership
By Andreessen Horowitz LSV Fund II, L.P.
Underlying class
Class A Common Stock
Underlying amount
777,832
Exercise price
Footnotes
F1, F3
NAVN transaction Derivative

Series F Preferred Stock

Conversion of derivative security

Transaction value
Shares
-9,274
Change %
-100%
Price
Shares after
0
Date
31 Oct 2025
Ownership
By CLF Partners, LP
Underlying class
Class A Common Stock
Underlying amount
3,123
Exercise price
Footnotes
F1, F7
NAVN transaction Derivative

Series G-1 Preferred Stock

Conversion of derivative security

Transaction value
Shares
-1,201,643
Change %
-100%
Price
Shares after
0
Date
31 Oct 2025
Ownership
By Andreessen Horowitz LSV Fund III, L.P.
Underlying class
Class A Common Stock
Underlying amount
405,855
Exercise price
Footnotes
F1, F4, F5
* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 9 footnotes

Footnote F1

Each share of Series Seed, Series A, Series C, Series D, Series E, Series F and Series G-1 Preferred Stock automatically converted into shares of Class A Common Stock immediately prior to the closing of the Issuer's initial public offering ("IPO") for no additional consideration at a conversion ratio that was dependent upon the initial offering price per share of the Class A Common Stock to the public in the Issuer's IPO, and had no expiration date.

Footnote F2

These shares are held of record by Andreessen Horowitz LSV Fund I, L.P. ("AH LSV Fund I"), for itself and as nominee for Andreessen Horowitz LSV Fund I-B, L.P. and Andreessen Horowitz LSV Fund I-Q, L.P. (collectively, the "AH LSV Fund I Entities"). AH Equity Partners LSV I, L.L.C. ("AH EP LSV I"), the general partner of AH LSV Fund I, may be deemed to have sole voting and dispositive power over the shares held by the AH LSV Fund I Entities. Marc Andreessen and Benjamin Horowitz are the managing members of AH EP LSV I and may be deemed to have shared voting and dispositive power over the shares held by the AH LSV Fund I Entities. Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH LSV Fund I Entities and this report shall not be deemed an admission that such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any.

Footnote F3

These shares are held of record by Andreessen Horowitz LSV Fund II, L.P. ("AH LSV Fund II"), for itself and as nominee for Andreessen Horowitz LSV Fund II-B, L.P. and Andreessen Horowitz LSV Fund II-Q, L.P. (collectively, the "AH LSV Fund II Entities"). AH Equity Partners LSV II, L.L.C. ("AH EP LSV II "), the general partner of AH LSV Fund II, may be deemed to have sole voting and dispositive power over the shares held by the AH LSV Fund II Entities. Marc Andreessen and Benjamin Horowitz are the managing members of AH EP LSV II and may be deemed to have shared voting and dispositive power over the shares held by the AH LSV Fund II Entities. Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH LSV Fund II Entities and this report shall not be deemed an admission that such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any.

Footnote F4

These shares are held of record by Andreessen Horowitz LSV Fund III, L.P. ("AH LSV Fund III"), for itself and as nominee for Andreessen Horowitz LSV Fund III-B, L.P., AH 2022 Annual Fund, L.P., AH 2022 Annual Fund-B, L.P. and AH 2022 Annual Fund-QC, L.P. (collectively, the "AH LSV Fund III Entities"). AH Equity Partners LSV III, L.L.C. ("AH EP LSV III"), the general partner of AH LSV Fund III, may be deemed to have sole voting and dispositive power over the shares held by the AH LSV Fund III Entities.

Footnote F5

(Continued from Footnote 4) Marc Andreessen and Benjamin Horowitz are the managing members of AH EP LSV III and may be deemed to have shared voting and dispositive power over the shares held by the AH LSV Fund III Entities. Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH LSV Fund III Entities and this report shall not be deemed an admission that such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any.

Footnote F6

These shares are held of record by Andreessen Horowitz Fund V, L.P. ("AH Fund V"), for itself and as nominee for Andreessen Horowitz Fund V-A, L.P., Andreessen Horowitz Fund V-B, L.P. and Andreessen Horowitz Fund V-Q, L.P. (collectively, the "AH Fund V Entities"). AH Equity Partners V, L.L.C. ("AH EP V"), the general partner of AH Fund V, may be deemed to have sole voting and dispositive power over the shares held by the AH Fund V Entities. Marc Andreessen and Benjamin Horowitz are the managing members of AH EP V and may be deemed to have shared voting and dispositive power over the shares held by the AH Fund V Entities. Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH Fund V Entities and this report shall not be deemed an admission that such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any.

Footnote F7

These shares are held of record by CLF Partners, LP ("CLF"). AH EP V, the general partner of CLF, may be deemed to have sole voting and dispositive power over the shares held by CLF. Marc Andreessen and Benjamin Horowitz are the managing members of AH EP V and may be deemed to have shared voting and dispositive power over the shares held by CLF. Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by CLF and this report shall not be deemed an admission that such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any.

Footnote F8

These shares are held of record by AH Parallel Fund V, L.P. ("AH Parallel V"), for itself and as nominee for AH Parallel Fund V-A, L.P., AH Parallel Fund V-B, L.P., and AH Parallel Fund V-Q, L.P. (collectively, the "AH Parallel Fund V Entities"). AH Equity Partners V (Parallel), L.L.C. ("AH EP V Parallel"), the general partner of AH Parallel V, may be deemed to have sole voting and dispositive power over the shares held by the AH Parallel Fund V Entities. Marc Andreessen and Benjamin Horowitz are the managing members of AH EP V Parallel and may be deemed to have shared voting and dispositive power over the shares held by the AH Parallel Fund V Entities.

Footnote F9

(Continued from Footnote 8) Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by the AH Parallel Fund V Entities and this report shall not be deemed an admission that such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any.

SEC remarks

This Form 4 is the second of three Forms 4 filed relating to the same event. Combined, the three reports report the holdings for the following Reporting Persons: Andreessen Horowitz LSV Fund I, L.P., Andreessen Horowitz LSV Fund I-B, L.P., Andreessen Horowitz LSV Fund I-Q, L.P., AH Equity Partners LSV I, L.L.C., Andreessen Horowitz LSV Fund II, L.P., Andreessen Horowitz LSV Fund II-B, L.P., Andreessen Horowitz LSV Fund II-Q, L.P., AH Equity Partners LSV II, L.L.C., Andreessen Horowitz LSV Fund III, L.P., Andreessen Horowitz LSV Fund III-B, L.P., AH Equity Partners LSV III, L.L.C., AH 2022 Annual Fund, L.P., AH 2022 Annual Fund-B, L.P., AH 2022 Annual Fund-QC, L.P., AH Equity Partners 2022 Annual Fund, L.L.C., Andreessen Horowitz Fund V, L.P., Andreessen Horowitz Fund V-A, L.P., Andreessen Horowitz Fund V-B, L.P., Andreessen Horowitz Fund V-Q, L.P., CLF Partners, LP, AH Equity Partners V, L.L.C., AH Parallel Fund V, L.P., AH Parallel Fund V-A, L.P., AH Parallel Fund V-B, L.P., AH Parallel Fund V-Q, L.P., AH Equity Partners V (Parallel), L.L.C. and Marc Andreessen. This Form 4 has been split into three filings because there are more than 10 reporting persons in total, and the SEC's EDGAR filing system limits a single Form 4 to a maximum of 10 reporting persons.

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