Form 4 for NAVI NAVIENT CORP

Accepted 2022-03-03 00:00:00 ET · period of report 2022-03-01 · accession 0001127602-22-007989 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
	2022-03-03	2022-03-01	NAVI	KANE JOHN M	EVP, Group Pres	F - Tax	$17.06	-26.9K	598.8K	-4%	-$458.1K

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Common Stock	2022-03-01	F	D	26,853	$17.06	598,817.48	D	—	—	(F1) Represents performance stock units ("PSUs") awarded to the reporting person under the Navient Corporation 2014 Omnibus Incentive Plan and previously reported on February 5, 2019. Each PSU represents the right to receive one share of Navient Corporation ("Navient") common stock in the future, which target amount vests at a specified percentage and is settled based upon achieving certain performance conditions over a three-year performance period ending on the final day of fiscal year 2021. On January 27, 2022, the Compensation and Human Resources Committee approved the achievement of the 2019-2021 PSUs at 119% of target resulting in the settling on March 1, 2022, of 52,010.1400 shares of such PSUs and an additional 9,395.5691 shares were issued to the reporting person upon the vesting of the related dividend equivalent rights. In connection with this settlement, 26,853 shares were withheld by Navient (as approved by the Navient Compensation and Human Resources Committee) to satisfy the reporting person's tax withholding obligations. (F2) Reflects the disposition of 0.7091 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.