---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-164525"
form_type: "8-K"
ticker: "NAVI"
cik: "0001593538"
company_name: "NAVIENT CORP"
filed_at: "2023-06-09T23:59:59+00:00"
generated_at: "2026-06-14T03:52:28.296151+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Navient enters separation agreement with former CEO Jack Remondi; $6.2M severance plus $500K consulting fee

## Summary
- Former CEO Jack Remondi terminated May 15, 2023; receives $6,226,375 lump-sum severance under Executive Severance Plan.
- Consulting fee of $500,000 payable in two $250,000 installments on Sep 30 and Dec 31, 2023, for operational/strategic/litigation support.
- Non-compete and non-solicitation covenants for 12 months post-termination; limited to student loan origination/servicing and business processing.
- Legal fees reimbursed up to $25,000; board directorship ceased May 25, 2023.

## SEC filing metadata
- accession: 0001193125-23-164525
- form_type: 8-K
- ticker: NAVI
- cik: 0001593538
- company_name: NAVIENT CORP
- filed_at: 2023-06-09T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1593538/000119312523164525/0001193125-23-164525-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1593538/000119312523164525/d198014d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-164525
- JSON: https://secwatch.observer/filing/0001193125-23-164525.json
- Plain text: https://secwatch.observer/filing/0001193125-23-164525.txt

## Key facts
- Executive change
  Jack Remondi was terminated as Chief Executive Officer and President at NAVIENT CORP.
  - Action: terminated
  - Role: Chief Executive Officer and President
  source text: In connection with the termination of his employment with the Company, effective May 15, 2023, Mr. Remondi will be provided with severance payments and benefits in accordance with the Severance Plan
  evidence_url: https://www.sec.gov/Archives/edgar/data/1593538/000119312523164525/0001193125-23-164525-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.