Form 4 for NAVI NAVIENT CORP
Accepted 2023-02-07 00:00:00 ET · period of report 2023-02-04 · accession 0001127602-23-003896 · 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| M | 2023-02-07 | 2023-02-04+ | NAVI | REMONDI JOHN F | CEO, Dir | F - Tax | $18.92 | -65.0K | 3.53M | -2% | -$1.23M |
| M | 2023-02-07 | 2023-02-06 | NAVI | REMONDI JOHN F | CEO, Dir | A - Grant | $0.00 | +269.6K | 3.39M | +9% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2023-02-04 | F | D | 24,252 | $18.92 | 3,304,025.46 | D | — | — | (F1) As previously reported, on February 4, 2021, the reporting person was granted 162,601 restricted stock units ("RSUs") under the Navient Corporation 2014 Omnibus Incentive Plan (the "Plan") representing the right to receive shares of Navient Corporation ("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, 2023, 51,924 shares of such RSUs were settled and an additional 4,146 shares were issued to the reporting person upon the vesting of the related dividend equivalent rights. In connection with this settlement, 24,252 shares were withheld by Navient, as approved by the Navient Compensation and Human Resources Committee (the "Committee"), to satisfy the reporting person's tax withholding obligations. |
| 2 | Common | Common Stock | 2023-02-04 | F | D | 17,782 | $18.92 | 3,286,243.46 | D | — | — | (F2) As previously reported, on February 4, 2022, the reporting person was granted 123,456 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, 2023, 39,424 shares of such RSUs were settled and an additional 1,690 shares were issued to the reporting person upon the vesting of the related dividend equivalent rights. In connection with this settlement, 17,782 shares were withheld by Navient, as approved by the Committee, to satisfy the reporting person's tax withholding obligations. |
| 3 | Common | Common Stock | 2023-02-06 | F | D | 22,976 | $18.92 | 3,532,909.30 | D | — | — | (F5) As previously reported, on February 6, 2020, the reporting person was granted 141,843 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, 2023, 45,295 shares of such RSUs were settled and an additional 7,825.1601 shares were issued to the reporting person upon the vesting of the related dividend equivalent rights. In connection with this settlement, 22,976 shares were withheld by Navient, as approved by the Committee, to satisfy the reporting person's tax withholding obligations. (F6) Reflects the disposition of 0.1601 shares settled in cash upon the delivery of the related dividend equivalent rights, in accordance with the terms of the Plan. |
| 4 | Common | Common Stock | 2023-02-06 | A | A | 163,934 | $0.00 | 3,555,885.46 | D | — | — | (F4) 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. 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 2025. The performance conditions shall be approved by the Committee in connection with the Company's 2023 Long-Term Incentive Program and shall be set forth in the form of PSU award agreement approved by the Committee. |
| 5 | Common | Common Stock | 2023-02-06 | A | A | 105,708 | $0.00 | 3,391,951.46 | D | — | — | (F3) Represents a grant of common stock to the reporting person in the form of restricted stock units pursuant to the Plan. The RSUs will be settled solely by delivery of shares of Navient common stock and vest in one-third increments on each of the first, second and third anniversaries of the grant date. |