FREDERICK ARNOLD - 09 Feb 2024 Form 4 Insider Report for NAVIENT CORP (NAVI)

Role
Director
Signature
/s/ Elizabeth Han (POA) for Frederick Arnold
Issuer symbol
NAVI
Transactions as of
09 Feb 2024
Net transactions value
+$139,995
Form type
4
Filing time
13 Feb 2024, 16:13:09 UTC
Previous filing
28 Apr 2023
Next filing
31 Jul 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NAVI Common Stock Award $139,995 +8,647 +14% $16.19 70,239 09 Feb 2024 Direct F1, F2, 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 restricted stock to a non-employee director under the Navient Corporation 2014 Omnibus Incentive Plan. The restrictions lift on a quarterly basis subject to continued active service on the Navient Board of Directors as follows: 25% on the grant date (Feb 9, 2024); 25% on May 1, 2024; 25% on August 1, 2024; and 25% on November 1, 2024.
F2 Dividend equivalent rights 108.0104 units issued on previously unvested restricted 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 common stock.
F3 Reflects the disposition of 0.0104 shares settled in cash upon the delivery of the related dividend equivalent rights, in accordance with the terms of the 2014 Navient Corporation Omnibus Incentive Plan.

Remarks:

Exibit 24 - Power of Attorney