SEC Form 4 · accession 0001127602-15-019873
NAVIENT CORP · NAVI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John F Whorley Jr.
Officer — EVP, Servicing Operations
Period of report
Jun 1, 2015
Accepted (ET)
Jun 4, 2015 · 5:16 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 | Jun 1, 2015 | A | 15,511 | $0.00 | A | 15,511 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F2 | $19.34 | Jun 1, 2015 | A | 152,284 | A | — | Jun 1, 2020 | Common Stock | 152,284 | 152,284 | D |
Explanation of responses
- F1Grant of restricted stock units ("RSUs") under the Navient Corporation 2014 Omnibus Incentive Plan, which is classified as a grant of "Common Stock," as permitted, because the RSUs will be settled solely by delivery of shares of Navient common stock. These RSUs vest in one-third increments on each of the first, second and third anniversary of the grant date.
- F2Grant of net-settled stock options under the Navient Corporation 2014 Omnibus Incentive Plan. These options vest in one-third increments on each of the first, second and third anniversary of the grant date.