Form 4: Navient Corp Executive Troy Standish Reports Changes in Beneficial Ownership
SEC Form 4 Filing
EVP and Chief Operating Officer of Navient Corp, Troy Standish, reports changes in beneficial ownership of company stock due to RSU settlement, tax withholding, and 401(k) acquisitions.
Summary
- Troy Standish, EVP & Chief Operating Officer of Navient Corp, filed a Form 4 detailing changes in beneficial ownership of Navient common stock.
- On February 4, 2025, 2,930 shares of restricted stock units (RSUs) were settled, and an additional 388.961 shares were issued due to dividend equivalent rights.
- Navient withheld 1,351 shares to satisfy tax withholding obligations at a price of $13.79 per share.
- Between December 16, 2024, and February 4, 2025, Standish acquired 218.9207 share equivalents of Navient common stock under the Navient 401(k) Savings Plan.
- Following these transactions, Standish directly owns 172,653.4035 shares of Navient common stock and indirectly owns 13,809.5199 shares through a 401(k).
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and does not indicate any significant positive or negative developments.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be an indicator of management's confidence in the company's prospects.
Comparison to Industry Standards
- Executive compensation packages often include RSUs as a way to align management's interests with those of shareholders.
- Tax withholding practices related to RSU settlements are standard across publicly traded companies.
- 401(k) plans are a common benefit, and executive participation is typical.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
- Employees participating in the 401(k) plan are indirectly impacted by the executive's participation.
Key Dates
| Date | Description |
|---|---|
| February 4, 2022 | Reporting person was granted 9,118 restricted stock units (RSUs) under the Navient Corporation 2014 Omnibus Incentive Plan. |
| December 16, 2024 | Start date for acquisition of Navient common stock share equivalents under the 401(k) Savings Plan. |
| February 4, 2025 | Date of RSU settlement, dividend equivalent rights issuance, tax withholding, and 401(k) account balance reporting. |
| February 6, 2025 | Date of Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Navient Corp, Stock, RSU, 401(k), Troy Standish, Executive Compensation
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