John M. Kane - Dec 14, 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
Dec 14, 2023
Transactions value $
-$2,855,090
Form type
4
Date filed
12/18/2023, 05:58 PM
Previous filing
Mar 2, 2023
Next filing
Feb 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NAVI Common Stock Sale -$2.86M -150K -23.42% $19.02 491K Dec 14, 2023 Direct F1, F2, F3, F4
holding NAVI Common Stock 8.97K Dec 14, 2023 By 401(k) F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The transaction reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on August 23, 2023.
F2 Represents the weighted average price per share of stock sold by the reporting person between $19.00 and $19.25. 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.
F3 Dividend equivalent rights (3,547.3092 units) issued on restricted stock units and performance stock units are included in the reporting person's common stock holding balance.
F4 The reporting person's common stock balance includes 471 shares acquired under the Navient Corporation Employee Stock Purchase Plan.
F5 Between March 2, 2023, and December 14, 2023, the reporting person acquired 476.1237 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 December 14, 2023.