secwatch.observer — SEC 8-K summary
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Issuer:     NAVIENT CORP (NAVI)
CIK:        0001593538
Form:       8-K
Filed at:   2025-07-11T23:59:59+00:00
Accession:  0001140361-25-025649
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Navient raises CEO David Yowan's base salary to $1M, issues $1.6M RSUs and $2.4M PSUs
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- CEO David Yowan's annual base salary increased to $1,000,000 effective July 1, 2025.
- Target annual bonus set at 150% of average base salary under Management Incentive Plan.
- Grant of 102,761 time-based RSUs ($1.6M) vesting over 12-18 months, settled in cash.
- Grant of 154,142 performance-based PSUs ($2.4M) tied to legacy expense and rTSR goals for 2025-2027.
- Legacy expense target for 2025 is $37.2M; rTSR payout ranges from 0% to 150% based on peer percentile rank.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1593538/000114036125025649/0001140361-25-025649-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1593538/000114036125025649/ef20051869_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-025649

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer