Form 4 for NAVI NAVIENT CORP
Accepted 2024-03-01 00:00:00 ET · period of report 2024-02-28 · accession 0001127602-24-007874 · 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024-03-01 | 2024-02-28 | NAVI | HELEEN MARK L | EVP, CLO, Sec | F - Tax | $15.75 | -7,414 | 403.6K | -2% | -$116.8K |
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 | 2024-02-28 | F | D | 7,414 | $15.75 | 403,611.42 | 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 4, 2021. 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 2023. On January 26, 2024, the Compensation and Human Resources Committee approved the achievement of the 2021-2023 PSUs at 46.36% of target resulting in the settling on February 28, 2024, of 14.683.1392 shares of such PSUs and an additional 1,754.4984 shares were issued to the reporting person upon the vesting of the related dividend equivalent rights. (F2) In connection with this settlement, 7,414 shares were withheld by Navient (as approved by the Navient Compensation and Human Resources Committee) to satisfy the reporting person's tax withholding obligations. (F3) Reflects the disposition of 0.6376 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. (F4) The reporting person's common stock balance reflects the forfeiture of 19,018.8715 PSUs from the reporting person's beneficial ownership because the Company failed to meet the threshold performance level established for the PSUs granted for the 2021 - 2023 performance period. |