4//SEC Filing
LOWN CHRISTIAN M. 4
Accession 0001127602-19-004595
CIK 0001593538other
Filed
Feb 6, 7:00 PM ET
Accepted
Feb 7, 5:09 PM ET
Size
9.8 KB
Accession
0001127602-19-004595
Insider Transaction Report
Form 4
NAVIENT CORPNAVI
LOWN CHRISTIAN M.
EVP & Chief Financial Officer
Transactions
- Award
Common Stock
2019-02-05+52,447→ 192,077.875 total - Award
Common Stock
2019-02-05+52,447→ 244,524.875 total - Tax Payment
Common Stock
2019-02-05$11.44/sh−2,531$28,955→ 241,993.875 total
Footnotes (5)
- [F1]Grant of restricted stock units ("RSUs") under the Navient Corporation 2014 Omnibus Incentive Plan, which is classified as "Common Stock," as permitted, since the RSUs will be settled solely by delivery of shares of Navient common stock. These RSUs vest in one-third increments on each of the first, second and third anniversaries of the grant date.
- [F2]Dividend equivalent rights issued on RSUs and performance stock units ("PSUs") are included in the reporting person's common stock holding balance. Each dividend equivalent right is the economic equivalent of one share of Navient Corporation common stock.
- [F3]The reporting person's common stock balance includes 598 shares acquired under the Navient Corporation Employee Stock Purchase Plan.
- [F4]Grant of Performance Stock Units ("PSUs") which is classified as "Common Stock," as permitted, since the PSUs will be settled solely by delivery of shares of the Company's common stock upon vesting. A specified percentage of this target award will vest and be settled based upon the satisfaction of certain performance conditions over a three-year performance period ending on the final day of fiscal year 2021. The performance conditions to be used shall be those approved by the Committee in connection with the Company's 2019 Long-Term Incentive Program and shall be set forth in the form of PSU award agreement approved by the Committee. Each vested PSU will be settled in shares of the Company's common stock.
- [F5]As previously reported, on February 5, 2018, the reporting person was granted 17,608 RSUs under the Navient Corporation 2014 Omnibus Incentive Plan representing the right to receive shares of Navient Corporation ("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 5, 2019, 5,869 shares of such RSUs were settled and an additional 322 shares were issued to the reporting person upon the vesting of the related dividend equivalent rights. In connection with this settlement, 2,531 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.
Documents
Issuer
NAVIENT CORP
CIK 0001593538
Entity typeother
Related Parties
1- filerCIK 0001701994
Filing Metadata
- Form type
- 4
- Filed
- Feb 6, 7:00 PM ET
- Accepted
- Feb 7, 5:09 PM ET
- Size
- 9.8 KB