4//SEC Filing
KANE JOHN M 4
Accession 0001127602-22-003749
CIK 0001593538other
Filed
Feb 7, 7:00 PM ET
Accepted
Feb 8, 5:01 PM ET
Size
14.7 KB
Accession
0001127602-22-003749
Insider Transaction Report
Form 4
NAVIENT CORPNAVI
KANE JOHN M
Chief Operating Officer
Transactions
- Tax Payment
Common Stock
2022-02-06$17.82/sh−6,283$111,963→ 615,866.912 total - Award
Common Stock
2022-02-04+38,209→ 634,101.062 total - Tax Payment
Common Stock
2022-02-05$17.82/sh−7,425$132,314→ 622,149.912 total - Award
Common Stock
2022-02-04+34,736→ 595,892.062 total - Tax Payment
Common Stock
2022-02-04$17.82/sh−4,526$80,653→ 629,575.062 total
Holdings
- 7,000.691(indirect: By 401(k))
Common Stock
Footnotes (7)
- [F1]Represents a grant of common stock to the reporting person in the form of restricted stock units ("RSUs") pursuant to the Navient Corporation 2014 Omnibus Incentive Plan (the "Plan"). The RSUs will be settled solely by delivery of shares of Navient Corporation ("Navient") common stock and vest in one-third increments on each of the first, second and third anniversaries of the grant date.
- [F2]Represents a grant of common stock to the reporting person in the form of performance stock units ("PSUs") to 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 2024. The performance conditions shall be approved by the Committee in connection with the Company's 2022 Long-Term Incentive Program and shall be set forth in the form of PSU award agreement approved by the Navient Compensation and Personnel Committee (the "Committee").
- [F3]As previously reported, on February 4, 2021, the reporting person was granted 40,650 RSUs under the 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 date. On February 4, 2022, 13,550 shares of such RSUs were settled and an additional 475 shares were issued to the reporting person upon the vesting of the related dividend equivalent rights. In connection with this settlement, 4,526 shares were withheld by Navient, as approved by the Committee, to satisfy the reporting person's tax withholding obligations.
- [F4]As previously reported, on February 5, 2019, the reporting person was granted 43,706 RSUs under the 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 date. On February 5, 2022, 14,569 shares of such RSUs were settled and an additional 2,632.1498 shares were issued to the reporting person upon the vesting of the related dividend equivalent rights. In connection with this settlement, 7,425 shares were withheld by Navient, as approved by the Committee, to satisfy the reporting person's tax withholding obligations.
- [F5]Reflects the disposition of 0.1498 shares settled in cash upon the delivery of the related dividend equivalent rights, in accordance with the terms of the Plan.
- [F6]As previously reported, on February 6, 2020, the reporting person was granted 35,460 RSUs under the 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 date. On February 6, 2022, 11,820 shares of such RSUs were settled and an additional 1,472 shares were issued to the reporting person upon the vesting of the related dividend equivalent rights. In connection with this settlement, 6,283 shares were withheld by Navient, as approved by the Committee, to satisfy the reporting person's tax withholding obligations.
- [F7]Between January 3, 2022, and February 4, 2022, the reporting person's share equivalents of Navient common stock under the Navient 401(k) Savings Plan decreased by 55.0108. The information in this report is based on the reporting person's actual account balance as of February 4, 2022.
Documents
Issuer
NAVIENT CORP
CIK 0001593538
Entity typeother
Related Parties
1- filerCIK 0001605711
Filing Metadata
- Form type
- 4
- Filed
- Feb 7, 7:00 PM ET
- Accepted
- Feb 8, 5:01 PM ET
- Size
- 14.7 KB