LOWN CHRISTIAN M. 4
4 · NAVIENT CORP · Filed Mar 31, 2020
Insider Transaction Report
Form 4
NAVIENT CORPNAVI
LOWN CHRISTIAN M.
EVP & Chief Financial Officer
Transactions
- Tax Payment
Common Stock
2020-03-27$8.03/sh−9,962$79,995→ 313,804.901 total
Footnotes (3)
- [F1]As previously reported, on March 27, 2017, the reporting person was granted 71,428 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, which vest in one-third increments on each of the first, second and third anniversaries of the grant. On March 27, 2020, 23,809 shares of such RSUs were settled and an additional 4,195.4585 shares were issued to the reporting person upon the delivery of the related dividend equivalent rights. In connection with this settlement, 9,962 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.
- [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]Reflects the disposition of 0.4585 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.