Form 4: Navient EVP Stephen Hauber Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Stephen Hauber, EVP & Chief Admin Officer of Navient Corp, reports the withholding of shares to cover tax obligations following the vesting of restricted stock units.
Summary
- On February 4, 2025, Stephen Hauber, EVP & Chief Admin Officer of Navient Corp, reported transactions related to the vesting of restricted stock units (RSUs).
- A total of 6,594 shares from previously granted RSUs vested, along with an additional 842.704 shares issued as dividend equivalent rights.
- Navient withheld 3,674 shares at a price of $13.79 to satisfy Mr. Hauber's tax withholding obligations.
- Following these transactions, Mr. Hauber beneficially owns 254,477.538 shares of Navient common stock, including 1,268.2870 dividend equivalent rights.
Sentiment
Score: 6
Explanation: The document reflects routine executive compensation activity (RSU vesting and tax withholding), which is neither particularly positive nor negative.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, providing transparency to investors.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive interests with long-term shareholder value.
- Tax withholding on RSU vesting is a common practice across publicly traded companies.
- Comparable companies such as Sallie Mae (SLM) and Discover Financial Services (DFS) also have executives who regularly report stock transactions via Form 4 filings.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
- Employees may be interested in the details of executive compensation packages.
Key Dates
| Date | Description |
|---|---|
| 2022/02/04 | Reporting person was granted 19,781 restricted stock units (RSUs) under the Navient Corporation 2014 Omnibus Incentive Plan representing the right to receive shares of Navient Corporation common stock in the future, which vest in one-third increments on each of the first, second and third anniversaries of the grant date. |
| 2024/11/13 | Date of execution of the Limited Power of Attorney. |
| 2025/02/04 | Date of transaction: Vesting of RSUs and withholding of shares for tax obligations. |
| 2025/02/06 | Date of signature of the report. |
Keywords
Form 4, Beneficial Ownership, Stephen Hauber, Navient Corp, RSUs, Restricted Stock Units, Dividend Equivalent Rights, Tax Withholding, EVP, Officer, NAVI
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