Lawson Michael A 4

What Happened Michael A. Lawson, a member of Navient Corporation's Board of Directors, was granted 18,018 restricted shares of Navient common stock on June 4, 2026. The grant price was $7.77 per share, for a total grant value of approximately $140,000. This was an award (code A) under the Navient Corporation 2024 Omnibus Incentive Plan to a non-employee director.

Key Details

• Transaction date: June 4, 2026; filing date (Form 4): June 5, 2026 (timely).
• Grant: 18,018 restricted shares at $7.77 per share; total value ≈ $140,000.
• Vesting schedule (per footnote): 25% vested on the 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.
• Dividend equivalents: 186.324 dividend-equivalent units from previously unvested restricted shares are included in the reporting person's reported common stock balance; each unit equals one share (footnote).
• Total shares held after the grant are not specified in the filing.

Context This transaction is a standard director compensation grant of restricted stock rather than an open-market purchase or sale. Restricted shares vest over time and carry service conditions; the immediate 25% vesting on the grant date is noted. Awards like this are routine for non-employee directors and should be viewed as compensation, not a direct market sentiment signal.