SEC Form 4 · accession 0001127602-15-016333
NAVIENT CORP · NAVI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John M Kane
Officer — EVP & Chief Operating Officer
Period of report
May 1, 2015
Accepted (ET)
May 5, 2015 · 5:18 pm EDT
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 | May 1, 2015 | F | 2,947 | $19.74 | D | 157,305 | D | |
| Common StockF3 | holding | — | — | — | 6,091 | I | By 401(k) | |
| Common StockF4 | holding | — | — | — | 996 | I | By Supplemental Savings & Thrift |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1As previously reported, on May 1, 2014, Mr. Kane was granted 17,647 restricted stock units ("RSUs") under the Navient Corporation 2014 Omnibus Incentive Plan representing the right to receive shares of Navient common stock in the future, which vest in one-third increments on May 1, 2015, May 1, 2016 and May 1, 2017. On May 1, 2015, 5,882 shares of such RSUs were settled and an additional 187 shares were issued to Mr. Kane upon the vesting of the related dividend equivalent rights. In connection with this settlement, 2,947 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Kane's tax withholding obligations.
- F2Dividend equivalent rights issued on RSUs and performance stock units are included in Mr. Kane's common stock holding balance.
- F3Between February 18, 2015, and April 30, 2015 Mr. Kane acquired 55.1895 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 April 30, 2015.
- F4Between February 3, 2015, and May 1, 2015, Mr. Kane acquired 7.6361 share equivalents of Navient common stock under the Navient Supplemental Thrift & Savings Plan. The information in this report is based on the reporting person's actual account balance as of May 1, 2015.