David Yowan - Jul 3, 2024 Form 4 Insider Report for NAVIENT CORP (NAVI)

Role
President & CEO, Director
Signature
/s/ Elizabeth Han (POA) for David Yowan
Stock symbol
NAVI
Transactions as of
Jul 3, 2024
Transactions value $
$3,999,993
Form type
4
Date filed
7/8/2024, 05:01 PM
Previous filing
May 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NAVI Common Stock Award $2.4M +166K +53.89% $14.42 475K Jul 3, 2024 Direct F1, F2
transaction NAVI Common Stock Award $1.6M +111K +23.35% $14.42 586K Jul 3, 2024 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 performance stock units ("PSUs") to be settled solely by delivery of shares of Navient common stock. The first 50% will vest on the first anniversary of the grant date (July 3, 2025) and 50% on December 31, 2025. 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.
F2 Dividend equivalent rights (2,416.254 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 restricted stock units ("RSUs") pursuant to the Navient Corporation 2024 Omnibus Incentive Plan (the "Plan"). The RSUs will be settled solely by delivery of shares of the Company's common stock and vest 50% on the first anniversary of the grant date (July 3, 2025) and 50% on December 31, 2025.