Form 4: Navient Corp EVP, CFO & PAO Joe Fisher Reports Stock Transactions

Joe Fisher, EVP, CFO & PAO of Navient Corp, reports acquisition and disposal of Navient common stock related to RSU and PSU grants and tax withholding.

Summary

• On February 6, 2025, Joe Fisher, EVP, CFO & PAO of Navient Corp, reported the settlement of 11,011 restricted stock units (RSUs) from a 2023 grant, with an additional 894.568 shares issued for dividend equivalent rights.
• 5,251 shares were withheld by Navient to cover tax obligations related to the RSU settlement at a price of $13.785.
• On February 7, 2025, Fisher received 46,023 shares of common stock in the form of RSUs under the 2024 Omnibus Incentive Plan at a price of $13.58.
• Also on February 7, 2025, Fisher received 48,225 shares in the form of performance stock units (PSUs) at a price of $12.96.
• On February 9, 2025, 12,868 shares of RSUs from a 2024 grant were settled, with an additional 548.353 shares issued for dividend equivalent rights.
• 5,917 shares were withheld by Navient to cover tax obligations related to the RSU settlement at a price of $13.58.
• Following these transactions, Fisher beneficially owns 345,260.388 shares of Navient common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document primarily reports stock transactions related to executive compensation. The grants of RSUs and PSUs are generally viewed positively as they align management incentives with company performance, but the tax withholding is a neutral event.

Positives

• The grant of RSUs and PSUs to a key executive like the CFO signals a long-term incentive alignment with the company's performance.

Future Outlook

The RSUs vest in one-third increments on each of the first, second and third anniversaries of the grant date. The PSUs will vest based on performance conditions over a three-year period ending in fiscal year 2027.

Industry Context

Executive stock transactions are common in publicly traded companies and are often tied to performance-based compensation plans. These transactions provide insights into management's alignment with shareholder interests.

Comparison to Industry Standards

• Executive compensation packages including RSUs and PSUs are standard practice among publicly traded companies like Navient.
• Companies such as Sallie Mae (SLM) and Discover Financial Services (DFS) also utilize similar equity-based compensation to incentivize their executives.
• The vesting schedules and performance metrics associated with these grants are typically aligned with industry benchmarks for executive compensation.

Stakeholder Impact

• These transactions can influence shareholder perception of management's confidence in the company.
• Employees may be impacted by the overall performance of the company, which affects the vesting of PSUs.

Key Dates

Keywords

Navient, Joe Fisher, RSU, PSU, Stock, Beneficial Ownership, Form 4, Tax Withholding, EVP, CFO, PAO