David Yowan - May 15, 2023 Form 4 Insider Report for NAVIENT CORP (NAVI)

Role
President & CEO, Director
Signature
/s/ Steve Caso (POA) for David L. Yowan
Stock symbol
NAVI
Transactions as of
May 15, 2023
Transactions value $
$3,999,995
Form type
4
Date filed
5/17/2023, 05:18 PM
Previous filing
Feb 7, 2023
Next filing
Aug 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NAVI Common Stock Award $1.6M +106K +189.2% $15.11 162K May 15, 2023 Direct F1, F2
transaction NAVI Common Stock Award $2.4M +159K +98.13% $15.11 321K May 15, 2023 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a grant of common stock to the reporting person in the form of restricted stock units ("RSUs") pursuant to the Navient Corporation 2014 Omnibus Incentive Plan (the "Plan"). The RSUs will be settled solely by delivery of shares of Navient common stock and vest 50% on the first anniversary of the grant date (May 15, 2024) and 50% on December 31, 2024.
F2 Dividend equivalent rights (58.6139) units issued on previously unvested restricted stock are included in the reporting person's common stock holding balance. Each dividend equivalent right is the economic equivalent of one share of Navient Corporation (the "Company") common stock.
F3 Represents a grant of common stock to the reporting person in the form of performance stock units ("PSUs") to be settled solely by delivery of shares of the Company's common stock. The first 50% will vest on the first anniversary of the grant date (May 15, 2024) and 50% on December 31, 2024. The service and performance conditions shall be approved by the Navient Corporation Compensation and Human Resources Committee (the "Committee") and shall be set forth in the form of PSU award agreement approved by the Committee.