Navient Corporation filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits

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Effective January 7, 2026, Steve Hauber, age 51, the Company’s Executive Vice President and Chief Administrative Officer, will expand his responsibilities by assuming the title of Executive Vice President, Chief Financial Officer and Principal Accounting Officer.  In addition to his new responsibilities, Mr. Hauber will continue to be responsible for legal, internal audit, risk management and corporate compliance.  Mr. Hauber has been with the Company since 2003 and previously held senior leadership positions in risk management, compliance, and internal audit. Hauber holds a bachelor’s degree in business administration and a Master of Accounting degree from the University of North Carolina at Chapel Hill.

 

In addition, Troy Standish, the Company’s Executive Vice President and Chief Operating Officer, will expand his responsibilities by assuming additional responsibilities for the technology and human resources organizations.

 

As part of these changes, Joe Fisher is no longer serving as the Company’s Executive Vice President, Chief Financial Officer and Principal Accounting Officer, effective as of January 6, 2026, and will support the leadership transition activities before departing the Company during the first quarter.

 

In connection with Mr. Hauber’s appointment as Chief Financial Officer, he will receive an increase in base salary to $525,000 per year effective January 17, 2026.  In addition, the Company expects to grant Mr. Hauber a target annual bonus equal to 125% of his base salary, restricted stock units (“RSUs”) with a grant date fair value equal to $637,500 and performance stock units (“PSUs”) with a grant date fair value equal to $637,500, in the ordinary course as part of its annual grant practices.  The RSUs will vest in one-third increments on the first, second, and third anniversaries of the grant date, subject to the terms and conditions set forth in the form of RSU award agreement approved by the Company’s Compensation and Human Resources Committee (“Committee”).  The PSUs will vest based on performance conditions to be approved in connection with the Company’s 2026 Long-Term Incentive Program, subject to the terms and conditions set forth in the form of PSU award agreement approved by the Committee.

 

In connection with Mr. Standish’s expansion of responsibilities, he will receive an increase in base salary to $450,000 effective January 17, 2026.  In addition, the Company expects to grant Mr. Standish a target annual bonus equal to 125% of his base salary, RSUs with a grant date fair value equal to $450,000 and PSUs with a grant date fair value equal to $450,000, in the ordinary course as part of its annual grant practices.  The RSUs will vest in one-third increments on the first, second, and third anniversaries of the grant date, subject to the terms and conditions set forth in the form of RSU award agreement approved by the Committee.  The PSUs will vest based on performance conditions to be approved in connection with the Company’s 2026 Long-Term Incentive Program, subject to the terms and conditions set forth in the form of PSU award agreement approved by the Committee.

 

The Company issued a press release regarding the foregoing changes, a copy of which is attached hereto as Exhibit 99.1 and incorporated by reference herein.

 

(d) Exhibits:

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