SEC Form 4 · accession 0001127602-16-055471
NAVIENT CORP · NAVI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark L Heleen
Officer — EVP & Chief Legal Officer
Period of report
Jun 10, 2016
Accepted (ET)
Jun 13, 2016 · 6:47 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 | Jun 10, 2016 | F | 1,198 | $12.95 | D | 89,387 | D | |
| Common StockF3 | holding | — | — | — | 5,974 | I | By 401(k) |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1As previously reported, on June 10, 2014, Mr. Heleen was granted 9,920 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 each of the first, second and third anniversaries of the grant. On June 10, 2016, 3,307 shares of such RSUs were settled and an additional 254 shares were issued to Mr. Heleen upon the vesting of the related dividend equivalent rights. In connection with this settlement, 1,198 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Heleen's tax withholding obligations.
- F2Dividend equivalent rights issued on RSUs and performance stock units are included in Mr. Heleen's common stock holding balance.
- F3Between February 18, 2016, and June 10, 2016 Mr. Heleen acquired 69.4641 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 June 10, 2016.