SEC Form 4 · accession 0001127602-18-007382
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
Feb 18, 2018
Accepted (ET)
Feb 20, 2018 · 7:48 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,F2 | Feb 18, 2018 | F | 1,623 | $13.99 | D | 375,377 | D | |
| Common StockF3,F4 | Feb 18, 2018 | F | 1,333 | $13.99 | D | 374,043 | D | |
| Common StockF5 | holding | — | — | — | 9,365 | I | By 401(k) |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1As previously reported, on February 18, 2015, the reporting person was granted 14,923 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, 2018, 4,752 shares of such RSUs were settled and an additional 680.8807 shares were issued to the reporting person upon the delivery of the related dividend equivalent rights. In connection with this settlement, 1,623 shares were withheld by Navient, as approved by the Navient Compensation and Personnel Committee (the "Committee"), to satisfy the reporting person's tax withholding obligations.
- F2Reflects the disposition of 0.8807 shares settled in cash upon the delivery of the related dividend equivalent rights, in accordance with the terms of the 2014 Navient Corporation Omnibus Incentive Plan.
- F3As previously reported, on February 18, 2015, the reporting person was granted 10,854 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, 2018, 3,618 shares of such RSUs were settled and an additional 517.9952 shares were issued to the reporting person upon the vesting of the related dividend equivalent rights. In connection with this settlement, 1,333 shares were withheld by Navient, as approved by the Committee, to satisfy the reporting person's tax withholding obligations.
- F4Reflects the disposition of 0.9952 shares settled in cash upon the delivery of the related dividend equivalent rights, in accordance with the terms of the 2014 Navient Corporation Omnibus Incentive Plan.
- F5Between February 6, 2018, and February 18, 2018, the reporting person acquired 580.2533 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 February 18, 2018.