Navan (NAVN) completes IPO, adopts dual-class stock with 30:1 voting for founders

Navan, Inc.

IPO closed Oct 31, 2025; shares trade on Nasdaq under ticker NAVN.
Co-founders Cohen and Twig exchange Class A shares for Class B shares (1:1) with 30 votes each.
Equity exchange rights allow founders to convert future equity awards into super-voting Class B shares.
Amended charter and bylaws effective IPO closing; founders subject to lock-up agreements with underwriters.

item 1.01 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Navan, Inc.: Amended and restated bylaws in connection with IPO (effective 2025-10-31).

Change: bylaw amendment
Effective: 2025-10-31

Exact text from the filing

On October 31, 2025, the Company’s amended and restated bylaws (the “Restated Bylaws”) became effective in connection with the closing of the IPO.

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Navan, Inc.: Amended and restated certificate of incorporation in connection with IPO (effective 2025-10-31).

Change: charter amendment
Effective: 2025-10-31

Exact text from the filing

On October 31, 2025, the Company filed an amended and restated certificate of incorporation (the “Restated Certificate”) with the Secretary of State of the State of Delaware in connection with the closing of the IPO.

View on SEC.gov

244 governance changes filed in the last 30 days. Browse all governance changes →

Navan, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-25-047879

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