SEC Form 4 · accession 0001127602-17-007528
NAVIENT CORP · NAVI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Somsak Chivavibul
Officer — EVP & Chief Financial Officer
Period of report
Feb 18, 2017
Accepted (ET)
Feb 21, 2017 · 7:07 pm EST
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 | Feb 18, 2017 | F | 1,782 | $15.45 | D | 279,632 | D | |
| Common StockF2 | Feb 18, 2017 | F | 1,096 | $15.45 | D | 278,536 | D | |
| Common StockF3 | holding | — | — | — | 47,441 | I | By 401(k) | |
| Common Stock | holding | — | — | — | 2,098 | I | By Spouse |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1As previously reported, on February 18, 2015, Mr. Chivavibul was granted 13,058 vested restricted stock units ("RSUs") under the Navient Corporation 2014 Omnibus Incentive Plan representing the right to receive shares of Navient Corporation ("Navient") common stock in the future, subject to transfer restrictions which lapse in one-third increments on each of the first, second and third anniversaries of the grant. On February 18, 2017, 4,201 shares of such RSUs were settled and an additional 392 shares were issued to Mr. Chivavibul upon the delivery of the related dividend equivalent rights. In connection with this settlement, 1,782 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Chivavibul's tax withholding obligations.
- F2As previously reported, on February 18, 2015, Mr. Chivavibul was granted 8,314 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 February 18, 2017, 2,772 shares of such RSUs were settled and an additional 259 shares were issued to Mr. Chivavibul upon the vesting of the related dividend equivalent rights. In connection with this settlement, 1,096 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Chivavibul's tax withholding obligations.
- F3Between February 6, 2017, and February 20, 2017 Mr. Chivavibul's share equivalents of Navient common stock under the Navient 401(k) Savings Plan decreased by 27.4270. The information in this report is based on the reporting person's actual account balance as of February 20, 2017.