Twig Ilan Ezra 4
4 · Navan, Inc. · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Navan (NAVN) CTO Twig Ilan Ezra Sells 49,210 Shares
What Happened
Twig Ilan Ezra, Navan's Chief Technology Officer and a director, disposed of 49,210 shares on March 20, 2026. The shares were sold at a weighted-average price of $8.62 per share for aggregate proceeds of approximately $424,294. The sale was a "sell-to-cover" to satisfy tax withholding related to the vesting of restricted stock units (RSUs), not a discretionary open-market trade.
Key Details
- Transaction date: 2026-03-20; Form 4 filed 2026-03-24 (filed within required period).
- Price: weighted average $8.62; sale prices ranged from $8.62 to $8.665 across multiple transactions.
- Shares sold: 49,210; proceeds ≈ $424,294.
- Holdings after transaction: filing references 440,415 RSUs (each a contingent right to one share upon vesting). The Form 4 indicates the sale satisfied tax withholding obligations.
- Footnotes: F1 = sell-to-cover for RSU tax withholding (not a discretionary sale); F2 = weighted-average price with price range disclosed; F3 = shows 440,415 RSUs outstanding/contingent.
Context
Sell-to-cover transactions are routine when RSUs vest and taxes are due; they generally reflect tax mechanics rather than a change in an insider's view of the company. This filing does not indicate an option exercise, gift, or a 10% owner transaction—just tax-related withholding of vested RSUs.
Insider Transaction Report
- Sale
Class A Common Stock
[F1][F2][F3]2026-03-20$8.62/sh−49,210$424,294→ 538,012 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 "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 $8.62 to $8.665, 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 440,415 RSUs, each of which represents a contingent right to receive one share of Issuer's Class A Common Stock upon vesting.