0001127602-17-004445.txt : 20170207
0001127602-17-004445.hdr.sgml : 20170207
20170207200841
ACCESSION NUMBER: 0001127602-17-004445
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20170203
FILED AS OF DATE: 20170207
DATE AS OF CHANGE: 20170207
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: NAVIENT CORP
CENTRAL INDEX KEY: 0001593538
STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
IRS NUMBER: 464054283
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 123 JUSTISON STREET
STREET 2: SUITE 300
CITY: WILMINGTON
STATE: DE
ZIP: 19801
BUSINESS PHONE: 302-283-8000
MAIL ADDRESS:
STREET 1: 123 JUSTISON STREET
STREET 2: SUITE 300
CITY: WILMINGTON
STATE: DE
ZIP: 19801
FORMER COMPANY:
FORMER CONFORMED NAME: New Corp
DATE OF NAME CHANGE: 20131205
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: WHORLEY JOHN F JR
CENTRAL INDEX KEY: 0001215156
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36228
FILM NUMBER: 17580627
MAIL ADDRESS:
STREET 1: C/O SLM CORP
STREET 2: 12061 BLUEMONT WAY
CITY: RESTON
STATE: VA
ZIP: 20190
4
1
form4.xml
PRIMARY DOCUMENT
X0306
4
2017-02-03
0001593538
NAVIENT CORP
NAVI
0001215156
WHORLEY JOHN F JR
123 JUSTISON STREET
SUITE 300
WILMINGTON
DE
19801
1
EVP & Group President
Common Stock
2017-02-03
4
F
0
5096
15.49
D
130369.6813
D
Common Stock
2017-02-06
4
A
0
43604
0
A
174000.6813
D
Common Stock
2017-02-06
4
A
0
26162
0
A
200162.6813
D
Stock Option (Right to Buy)
15.48
2017-02-06
4
A
0
100371
0
A
2022-02-06
Common Stock
100371
100371
D
As previously reported, on February 3, 2016, Mr. Whorley was granted 43,137 restricted stock units ("RSUs") under the Navient Corporation 2014 Omnibus Incentive 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. On February 3, 2017, 14,379 shares of such RSUs were settled and an additional 697 shares were issued to Mr. Whorley upon the vesting of the related dividend equivalent rights. In connection with this settlement, 5,096 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Whorley's tax withholding obligations.
Dividend equivalent rights issued on RSUs and performance stock units ("PSUs") are included in the reporting person's common stock holding balance. Each dividend equivalent right is the economic equivalent of one share of Navient Corporation common stock.
Grant of PSUs which is classified as "Common Stock," as permitted, since the PSUs will be settled solely by delivery of shares of the Company's common stock upon vesting. 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 2019. The performance conditions to be used shall be those approved by the Committee in connection with the Company's 2017 Long-Term Incentive Program and shall be set forth in the form of PSU award agreement approved by the Committee. Each vested PSU will be settled in shares of the Company's common stock.
Grant of RSUs under the Navient Corporation 2014 Omnibus Incentive Plan, which is classified as "Common Stock," as permitted, since the RSUs will be settled solely by delivery of shares of Navient common stock. These RSUs vest in one-third increments on each of the first, second and third anniversaries of the grant date.
Grant of net-settled stock options under the Navient Corporation 2014 Omnibus Incentive Plan. These options vest in one-third increments on each of the first, second and third anniversaries of the grant date.
/s/ Kurt T. Slawson (POA) for John F. Whorley, Jr.
2017-02-07