ARNOLD FREDERICK 4

What Happened
Arnold Frederick, a director of Navient Corporation (NAVI), was granted 18,018 restricted shares on June 4, 2026 at a reported price of $7.77 per share, a total award value of approximately $140,000. This transaction is an equity award (code A) issued as director compensation, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-04; Form filed: 2026-06-05 (timely filing).
• Grant: 18,018 restricted shares @ $7.77; total reported value ≈ $140,000.
• Vesting: 25% vested on grant date (June 4, 2026), then 25% on Aug 1, 2026; 25% on Nov 1, 2026; and 25% on Feb 1, 2027 (subject to continued board service). (Footnote F1)
• Dividend equivalents: 186.324 dividend-equivalent units on previously unvested restricted shares are included in the reporting person's common stock holding balance; each unit equals the economic equivalent of one share. (Footnote F2)
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Transaction code: A = Award/Grant.

Context
This was a standard restricted stock grant to a non-employee director under Navient’s 2024 Omnibus Incentive Plan with scheduled vesting tied to board service. Such awards are routine director compensation and differ from open-market purchases or insider sales.