0001127602-16-040103.txt : 20160208 0001127602-16-040103.hdr.sgml : 20160208 20160208204444 ACCESSION NUMBER: 0001127602-16-040103 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20160204 FILED AS OF DATE: 20160208 DATE AS OF CHANGE: 20160208 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: HYNES TIMOTHY J IV CENTRAL INDEX KEY: 0001605706 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36228 FILM NUMBER: 161397030 MAIL ADDRESS: STREET 1: 300 CONTINENTAL DRIVE CITY: NEWARK STATE: DE ZIP: 19713 4 1 form4.xml PRIMARY DOCUMENT X0306 4 2016-02-04 0001593538 NAVIENT CORP NAVI 0001605706 HYNES TIMOTHY J IV 123 JUSTISON STREET SUITE 300 WILMINGTON DE 19801 1 EVP, Chief Risk&Compliance Off Common Stock 2016-02-04 4 F 0 762 9.54 D 175344.6655 D Common Stock 2016-02-04 4 F 0 2620 9.54 D 172724.6655 D Common Stock 2016-02-07 4 F 0 846 9.51 D 171878.0613 D Common Stock 2016-02-07 4 F 0 1830 9.51 D 170047.9701 D As previously reported, in connection with the April 30, 2014 separation of Navient Corporation ("Navient") from SLM Corporation ("SLM"), Navient established the Navient Corporation 2014 Omnibus Incentive Plan and issued new Navient equity awards to holders of outstanding SLM equity awards in order to maintain the intrinsic value of prior SLM award grants. On April 30, 2014, Mr. Hynes was granted 6,657 vested restricted stock units ("RSUs") representing the right to receive shares of Navient common stock in the future, subject to transfer restrictions which lapse in one-third increments on February 4, 2015, 2016 and 2017. On February 4, 2016, 2,219 shares of such RSUs were settled and an additional 164 shares were issued to Mr. Hynes upon the delivery of the related dividend equivalent rights. In connection with this settlement, 762 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Hynes's tax withholding obligations. As previously reported, in connection with the April 30, 2014 separation of Navient from SLM, Navient established the Navient Corporation 2014 Omnibus Incentive Plan and issued new Navient equity awards to holders of outstanding SLM equity awards in order to maintain the intrinsic value of prior SLM award grants. On April 30, 2014, Mr. Hynes was granted 21,348 RSUs representing the right to receive shares of Navient common stock in the future, which vest in one-third increments on February 4, 2015, 2016 and 2017. On February 4, 2016, 7,116 shares of such RSUs were settled and an additional 527 shares were issued to Mr. Hynes upon the vesting of the related dividend equivalent rights. In connection with this settlement, 2,620 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Hynes's tax withholding obligations. As previously reported, in connection with the April 30, 2014 separation of Navient from SLM, Navient established the Navient Corporation 2014 Omnibus Incentive Plan and issued new Navient equity awards to holders of outstanding SLM equity awards in order to maintain the intrinsic value of prior SLM award grants. On April 30, 2014, Mr. Hynes was granted 4,802 vested RSUs representing the right to receive shares of Navient common stock in the future, subject to transfer restrictions which lapse in one-half increments on February 7, 2015 and February 7, 2016. On February 7, 2016, 2,401 shares of such RSUs were settled and an additional 246.6042 shares were issued to Mr. Hynes upon the delivery of the related dividend equivalent rights. In connection with this settlement, 846 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Hynes's tax withholding obligations. Also reflects the disposition of 0.6042 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. As previously reported, in connection with the April 30, 2014 separation of Navient from SLM, Navient established the Navient Corporation 2014 Omnibus Incentive Plan and issued new Navient equity awards to holders of outstanding SLM equity awards in order to maintain the intrinsic value of prior SLM award grants. On April 30, 2014, Mr. Hynes was granted 9,678 RSUs representing the right to receive shares of Navient common stock in the future, which vest in one-half increments on February 7, 2015 and February 7, 2016. On February 7, 2016, 4,839 shares of such RSUs were settled and an additional 496.0912 shares were issued to Mr. Hynes upon the vesting of the related dividend equivalent rights. In connection with this settlement, 1,830 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Hynes's tax withholding obligations. Also reflects the disposition of 0.0912 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. /s/ Kurt T. Slawson (POA) for Timothy J Hynes IV 2016-02-08