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Insider Trading January 30, 2026

Navan Interim CFO Executes $37,044 Sell-to-Cover Transaction

Anne Mary Giviskos sold 2,675 Navan shares to satisfy tax withholding tied to RSU vesting; filing clarifies sale was not discretionary

By Marcus Reed NAVN
Navan Interim CFO Executes $37,044 Sell-to-Cover Transaction
NAVN

Navan, Inc. interim Chief Financial Officer Anne Mary Giviskos completed a sell-to-cover transaction on January 28, 2026, disposing of 2,675 shares of Class A common stock for $37,044. The sale, executed at prices between $13.80 and $13.85 per share, was reported on a Form 4 filed with the SEC and described as a transaction to satisfy tax withholding obligations resulting from the vesting of restricted stock units (RSUs). The filing, signed by Howard Baik as Attorney-in-Fact on January 30, 2026, confirms the sale was not a discretionary trade. The company also disclosed a series of corporate developments including customer integrations, board expansion, new airline distribution partnerships and recent analyst coverage.

Key Points

  • Interim CFO Anne Mary Giviskos sold 2,675 shares of Navan Class A common stock on January 28, 2026 for a total of $37,044, at prices between $13.80 and $13.85.
  • The sale was a sell-to-cover transaction to meet tax withholding obligations tied to RSU vesting and was not a discretionary trade; the Form 4 was signed by Howard Baik as Attorney-in-Fact on January 30, 2026.
  • Navan concurrently announced customer platform integrations, a board appointment, analyst coverage and an Emirates NDC integration, reflecting continued product and partnership activity in the business travel and airline distribution sectors.

Navan, Inc. (NASDAQ: NAVN) reported a sell-to-cover transaction by its interim Chief Financial Officer, Anne Mary Giviskos, in a Form 4 filed with the Securities and Exchange Commission. On January 28, 2026, Giviskos sold 2,675 shares of Class A common stock in two separate transactions at prices ranging from $13.80 to $13.85 per share, producing aggregate proceeds of $37,044.

Following the disposition, Giviskos is listed as directly holding 106,090 shares of Navan stock. That total includes 82,532 restricted stock units, indicating a substantial portion of her reported ownership is tied to equity awards that vest over time.

The Form 4 filing clarifies the rationale behind the transactions: the shares were sold to cover tax withholding obligations associated with the vesting of restricted stock units. The filing explicitly characterizes the sales as necessary to satisfy tax obligations through a "sell to cover" arrangement and states that the transactions do not constitute discretionary trading by the reporting person.

The Form 4 was executed on January 30, 2026, and signed by Howard Baik, Attorney-in-Fact. The filing documents the mechanics of the sale and the connection to RSU vesting rather than an independent decision to sell shares for other reasons.

Other company developments noted in the filing and related disclosures

  • Navan has onboarded Reed & Mackay customers onto its business travel platform, intending to uphold the premium service experienced by those customers while leveraging Navan's technology capabilities.
  • The company added Shai Weiss, the former CEO of Virgin Atlantic, to its board of directors.
  • Citizens reiterated a Market Outperform rating for Navan and highlighted that a16z - the firm associated with board member Ben Horowitz - increased its position by $43 million.
  • Goldman Sachs has initiated coverage of Navan with a Buy rating, describing the company as a potential alternative to traditional travel and expense tools.
  • Navan expanded its New Distribution Capability (NDC) integrations to include Emirates, enabling access to exclusive fares, targeted promotions and premium services such as chauffeur-drive options on select bookings.

These corporate moves - customer integrations, board additions, analyst coverage and airline partnerships - were listed alongside the insider filing and reflect recent activity the company has publicly disclosed. The Form 4 details the insider transaction and the administrative purpose behind it, while the broader company disclosures speak to ongoing product and partnership expansion.

All information regarding the insider sale, including share counts, transaction dates, price range and the filing signature, is reported in the cited SEC Form 4.

Risks

  • The insider sale was required to cover tax withholding obligations tied to RSU vesting; such administrative sales can affect small volumes of publicly traded shares in the short term - impacting equity markets and investor perception in the finance sector.
  • Public disclosures list multiple corporate initiatives and analyst actions; execution risk remains for integrations, partnerships and strategic initiatives in the business travel and airline distribution sectors, which could affect commercial adoption and revenue timing.
  • Reliance on equity compensation and subsequent sell-to-cover transactions means executive ownership figures may fluctuate as RSUs vest and tax obligations are settled, creating variability in reported insider holdings that investors monitor within the broader equity markets.

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