SEC Form 4 · accession 0001127602-18-021480
NAVIENT CORP · NAVI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John F Whorley Jr.
Officer — EVP & Group President
Period of report
Jun 15, 2018
Accepted (ET)
Jun 19, 2018 · 6:34 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,F3 | Jun 15, 2018 | F | 33 | $13.11 | D | 306,746 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F11. As previously reported, on June 1, 2015, the reporting person was granted 15,511 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 15, 2018, an additional 72.4208 shares were issued to the reporting person upon the vesting of the related dividend equivalent rights. In connection with this settlement, 33 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy the reporting person's tax withholding obligations.
- F22. Dividend equivalent rights issued on unvested RSUs and performance stock units are included in the reporting person's common stock holding balance.
- F33. Also reflects the disposition of 0.4208 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.