---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-24-008668"
form_type: "8-K"
ticker: "NAVI"
cik: "0001593538"
company_name: "NAVIENT CORP"
filed_at: "2024-07-05T23:59:59+00:00"
generated_at: "2026-05-31T23:21:07.279307+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001654954-24-008668
- form_type: 8-K
- ticker: NAVI
- cik: 0001593538
- company_name: NAVIENT CORP
- filed_at: 2024-07-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1593538/000165495424008668/0001654954-24-008668-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1593538/000165495424008668/navi_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-24-008668
- JSON: https://secwatch.observer/filing/0001654954-24-008668.json
- Plain text: https://secwatch.observer/filing/0001654954-24-008668.txt

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