SEC Form 4 · accession 0001127602-15-024734
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
Aug 8, 2015
Accepted (ET)
Aug 11, 2015 · 5:40 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 | Aug 8, 2015 | F | 3,431 | $15.61 | D | 1,017,499 | D | |
| Common Stock | holding | — | — | — | 250 | I | As custodian for child |
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 (the "Company") from Sallie Mae ("SLM"), the Company 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 20,128 restricted stock units ("RSUs") representing the right to receive shares of Navient common stock in the future, which vest in one-third increments on August 8, 2014, 2015 and 2016. On August 8, 2015, 6,710 shares of such RSUs were settled and an additional 396 shares were issued to Mr. Remondi upon the vesting of the related dividend equivalent rights. In connection with this settlement, 3,431 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Remondi's tax withholding obligations.
Remarks
Exhibit 24 - Power of Attorney