John M. Kane - Jan 3, 2023 Form 4 Insider Report for NAVIENT CORP (NAVI)

Role
EVP & Group President
Signature
/s/ Elizabeth Han (POA) for John M. Kane
Stock symbol
NAVI
Transactions as of
Jan 3, 2023
Transactions value $
-$426,490
Form type
4
Date filed
1/4/2023, 04:28 PM
Previous filing
Mar 3, 2022
Next filing
Feb 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NAVI Common Stock Options Exercise $2.05M +151K +24.79% $13.63 758K Jan 3, 2023 Direct F1, F2
transaction NAVI Common Stock Tax liability -$2.2M -134K -17.62% $16.45 624K Jan 3, 2023 Direct F1
transaction NAVI Common Stock Sale -$282K -17K -2.72% $16.56 607K Jan 3, 2023 Direct F1, F3
holding NAVI Common Stock 7.96K Jan 3, 2023 By 401(k) F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NAVI Stock Option (Right to Buy) Options Exercise $0 -151K -100% $0.00* 0 Jan 3, 2023 Common Stock 151K $13.63 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person and represent exercises of stock options set to expire on February 5, 2023.
F2 Dividend equivalent rights (8,485.3733 units) issued on restricted stock units and performance stock units ("PSUs") are included in the reporting person's common stock holding balance.
F3 Represents the weighted average price per share of stock sold by the reporting person between $16.38 and $16.77. The reporting person undertakes to provide to Navient Corporation, any security holder of Navient Corporation or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
F4 Between March 1, 2022, and January 3, 2023, the reporting person acquired 320.4390 share equivalents of Navient common stock under the Navient 401(k) Savings Plan. The information in this report is based on the reporting person's actual account balance as of January 3, 2023.

Remarks:

Exhibit 24 - Power of Attorney