Form 4: Navient EVP Stephen Hauber Reports Changes in Beneficial Ownership Following PSU Settlement

Stephen Hauber, EVP & Chief Admin Officer of Navient Corp, reports changes in beneficial ownership due to the settlement of performance stock units (PSUs) and related tax withholding.

Summary

• On March 3, 2025, Stephen Hauber, EVP & Chief Admin Officer of Navient Corp, reported changes in beneficial ownership.
• The changes are due to the settlement of performance stock units (PSUs) awarded under the 2014 Omnibus Incentive Plan.
• The 2022-2024 PSUs were achieved at 46% of target, resulting in the settlement of 10,009.140 shares on March 3, 2025.
• An additional 1,277.255 shares were issued upon the vesting of related dividend equivalent rights.
• Navient withheld 4,978 shares to satisfy the reporting person's tax withholding obligations at a price of $13.91.
• The reporting person forfeited 13,249.246 PSUs because the company failed to meet the threshold performance level for the 2022-2024 performance period.
• Following these transactions, Hauber beneficially owns 294,886.292 shares of Navient common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document primarily reports factual transactions related to executive compensation. The failure to meet the threshold performance level is a slight negative, but the overall impact is limited to the executive's compensation.

Negatives

• The company failed to meet the threshold performance level for the 2022-2024 performance period, resulting in the forfeiture of 13,249.246 PSUs.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, like Stephen Hauber, transact in their company's stock. These filings provide transparency into insider activity and can be monitored by investors for insights into management's perspective on the company's performance and future prospects.

Comparison to Industry Standards

• Executive compensation structures, including PSUs, are common across publicly traded companies to align management's interests with those of shareholders.
• The vesting and settlement of PSUs based on performance metrics are also standard practice.
• The specific performance targets and vesting percentages vary from company to company and are typically disclosed in proxy statements.

Stakeholder Impact

• Shareholders may be interested in the performance metrics associated with the PSU grants and the extent to which management's compensation is aligned with company performance.
• Employees may be interested in the details of the company's incentive plans.

Key Dates