New insider Green David S claimed ownership of 153,467 shares (SEC Form 3)
$NAVI
Investment Bankers/Brokers/Service
Finance
| FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 02/28/2025 |
3. Issuer Name and Ticker or Trading Symbol
NAVIENT CORP [ NAVI ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
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| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Stock | 153,466.685(1)(2)(3)(4)(5)(6) | D | |
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Explanation of Responses: |
| 1. The reporting person's common stock balance includes grants of restricted stock units (RSUs) and performance stock units (PSUs) under the Navient Corporation 2014 Omnibus Incentive Plan and under the Navient Corporation 2024 Omnibus Incentive Plan, which are classified as "Common Stock," as permitted, since the awards will be settled solely by delivery of shares of Navient common stock. 15,856 RSUs granted in 2023 have or will vest in one-third increments on the first, second and third anniversary of the grant date (February 6, 2023). 18,529 RSUs granted in 2024 have or will vest in one-third increments on the first, second and third anniversary of the grant date (February 9, 2024). 22,091 RSUs granted in 2025 will vest in one-third increments on the first, second and third anniversary of the grant date (February 7, 2025). |
| 2. 6,172 PSUs granted in 2022 have vested and will be settled at a specified percentage of the target award based upon the satisfaction of certain performance conditions over a three-year performance period ending on the final day of fiscal year 2024. The performance conditions shall be those approved by the Compensation Committee (the "Committee") in connection with the Company's 2022 Long-Term Incentive Program and are set forth in the form of PSU award agreement applicable to the performance period. |
| 3. 16,393 PSUs granted in 2023 will vest and be settled at a specified percentage of the target award 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 to be used shall be those approved by the Committee in connection with the Company's 2023 Long-Term Incentive Program and are set forth in the form of PSU award agreement applicable to the performance period. |
| 4. 21,037 PSUs granted in 2024 will vest and be settled at a specified percentage of the target award based upon the satisfaction of certain performance conditions over a three-year performance period ending on the final day of fiscal year 2026. The performance conditions to be used shall be those approved by the Committee in connection with the Company's 2024 Long-Term Incentive Program and are set forth in the form of PSU award agreement applicable to the performance period. |
| 5. 23,148 PSUs granted in 2025 will vest and be settled at a specified percentage of the target award based upon the satisfaction of certain performance conditions over a three-year performance period ending on the final day of fiscal year 2027. The performance conditions to be used shall be those approved by the Committee in connection with the Company's 2025 Long-Term Incentive Program and are set forth in the form of PSU award agreement applicable to the performance period. Each vested PSU will be settled in shares of the Company's common stock. |
| 6. Dividend equivalent rights issued on RSUs are included in the reporting person's common stock holding balance. |
| Remarks: |
| Exhibit 24 - Power of Attorney |
| /s/ Elizabeth Han (POA) for David Green | 03/11/2025 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||