SEC Form 4 · accession 0001127602-15-004605
NAVIENT CORP · NAVI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John F Remondi
Officer — Chief Executive Officer · Director
Period of report
Feb 3, 2015
Accepted (ET)
Feb 5, 2015 · 6:08 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001593538
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Feb 3, 2015 | F | 5,915 | $21.08 | D | 928,751 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1As previously reported, in connection with the separation of Navient Corporation ("Navient") from SLM Corporation ("SLM"), Navient established the Navient Corporation 2014 Omnibus Incentive Plan and issued new Navient equity awards to holders of outstanding SLM equity awards in order to maintain the intrinsic value of prior SLM award grants. On April 30, 2014, Mr. Remondi was granted 17,299 vested restricted stock units ("RSUs") representing the right to receive shares of Navient common stock in the future, subject to transfer restrictions which fully lapse on February 3, 2015. On February 3, 2015, 17,299 shares of such RSUs were settled and an additional 1,572 shares were issued to Mr. Remondi upon the delivery of the related dividend equivalent rights. In connection with this settlement, 5,915 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Remondi's tax withholding obligations.
- F2Dividend equivalent rights issued on RSUs are included in Mr. Remondi's common stock holding balance.