SEC Form 4 · accession 0001127602-16-051115
NAVIENT CORP · NAVI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John M Kane
Officer — EVP & Group President
Period of report
May 1, 2016
Accepted (ET)
May 4, 2016 · 4:32 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, 2016 | F | 2,162 | $13.67 | D | 266,184 | D | |
| Common StockF3 | holding | — | — | — | 7,426 | I | By 401(k) |
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 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 each of the first, second and third anniversaries of the grant. On May 1, 2016, 5,883 shares of such RSUs were settled and an additional 480 shares were issued to Mr. Kane upon the vesting of the related dividend equivalent rights. In connection with this settlement, 2,162 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 are included in the reporting person's common stock holding balance.
- F3Between February 18, 2016, and April 29, 2016 Mr. Kane acquired 75.2205 share equivalents of Navient common stock under the Navient 401(k) Plan. The information in this report is based on the reporting person's actual account balance as of April 29, 2016.