Navient (NAVI) Director Larry Klane Receives Phantom Stock Award

What Happened

• Larry A. Klane, a director of Navient Corporation (NAVI), was granted 18,018.018 phantom stock units on June 4, 2026. The grant is reported at an equivalent price of $7.77 per share for a total reported value of $140,000. This is a derivative award (phantom/phantom stock units) under the Navient Deferred Compensation Plan for Directors, not an open-market purchase or sale.

Key Details

• Transaction date and reported value: 2026-06-04; 18,018.018 units × $7.77 = $140,000 (derivative award).
• Shares owned after transaction: Not specified in the provided filing.
• Vesting schedule (footnote): 25% vested on grant date (June 4, 2026); remaining 75% vest in three equal installments on Aug 1, 2026; Nov 1, 2026; and Feb 1, 2027.
• Dividend equivalents: 4,205.7759 dividend-equivalent units accrued on phantom units are included in the reporting person's holding balance (per footnote).
• Filing timeliness: Form 4 was filed on 2026-06-05 reporting the 06-04/2026 transaction (appears timely based on the filing date).

Context

• Phantom stock units are derivative awards that settle 1:1 in Navient common shares upon distribution; they are a form of deferred compensation for directors and typically vest over time with continued service. This grant increases Klane’s potential future share holdings if the units convert at distribution; it is not an immediate open-market purchase or sale.