Navient approves STIP with transformation targets; CEO gets $1.6M RSU + $2.4M PSU awards

NAVIENT CORP

STIP targets outsourcing ~80% of servicing expenses, BPS divestment, and ~20% ($11M) shared services cut in Q4 2024.
CEO eligible for 150% of base salary cash incentive under STIP; other NEOs eligible for 125%.
CEO David Yowan granted $1.6M in RSUs and $2.4M in PSUs based on TSR relative to peers.
RSUs vest 50% on 1-year anniversary and 50% on Dec 31, 2025; PSUs vest up to 150% based on performance.

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