UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

________________________________

 

FORM 8-K

________________________________

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 23, 2024

________________________________

 

Navient Corporation

(Exact name of registrant as specified in its charter)

________________________________

 

Delaware

 

001-36228

 

46-4054283

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

13865 Sunrise Valley Drive, Herndon, Virginia 

 

20171

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (703) 810-3000

 

Not Applicable

(Former name or former address, if changed since last report)

 ___________________________

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $.01 per share

NAVI

The Nasdaq Global Select Market

6% Senior Notes due December 15, 2043

JSM

The Nasdaq Global Select Market

Preferred Stock Purchase Rights

None

The Nasdaq Global Select Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

ITEM  5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

 

On May 23, 2024, Navient held its 2024 Annual Meeting of Shareholders (the “Annual Meeting”). As of the close of business on March 25, 2024, the record date for the Annual Meeting, 112,032,783 shares of common stock, par value $.01 per share, were outstanding and entitled to vote. At the Annual Meeting, 105,373,990 shares, or approximately 94.1%, of the outstanding shares of common stock entitled to vote were represented in person or by proxy. At the Annual Meeting, the following proposals were submitted to a vote of the Company’s shareholders, with the voting results indicated below:

 

Proposal 1 – Election of Directors. The Company’s shareholders elected the following 8 directors to hold office until the 2025 Annual Meeting of Shareholders and until their successors have been duly elected or appointed:

 

For

Against

Abstain

Broker Non-Votes

Frederick Arnold

 

95,969,913

 

1,459,015

 

92,458

 

7,852,604

Edward J. Bramson

 

95,871,877

 

1,487,067

 

162,442

 

7,852,604

Anna Escobedo Cabral

 

95,207,474

 

2,209,888

 

104,024

 

7,852,604

Larry A. Klane

 

95,777,334

 

1,639,310

 

104,472

 

7,852,604

Michael A. Lawson

 

96,026,402

 

1,388,539

 

106,445

 

7,852,604

Linda A. Mills

 

95,858,067

 

1,566,990

 

96,329

 

7,852,604

Jane J. Thompson

 

94,626,610

 

2,789,337

 

105,439

 

7,852,604

David L. Yowan

 

95,897,820

 

1,523,580

 

99,986

 

7,852,604

 

Proposal 2 – Ratification of the Appointment of KPMG LLP. The Company’s shareholders ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2024, as follows: 

 

For

 

Against

 

Abstain

102,176,095

 

 3,040,637

 

157,258

 

Proposal 3 – Advisory Vote on Executive Compensation. The Company’s shareholders approved, by an advisory vote, the compensation of its named executive officers, as follows:

 

For

 

Against

 

Abstain

 

Broker Non-Votes

95,824,042

 

1,557,673

 

139,671

 

 7,852,604

 

Proposal 4 – Approval of Navient Corporation 2024 Omnibus Incentive Plan to Replace the Expiring 2014 Omnibus Incentive Plan.  The Company’s shareholders approved the Company’s 2024 Omnibus Incentive Plan to replace the expiring 2014 Omnibus Incentive Plan, as follows:

 

For

 

Against

 

Abstain

 

Broker Non-Votes

 92,373,952

 

 5,046,501

 

100,933

 

 7,852,604

 

 
2

 

 

Item  9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit

Number

 

Description

 

 

 

99.1

 

Navient Corporation 2024 Omnibus Incentive Plan (incorporated by reference to Appendix A in Amendment No. 1 to Navient Corporation’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 17, 2024).

 

 
3

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

NAVIENT CORPORATION

 

 

 

 

 

By:

/s/ Mark L. Heleen

 

 

 

Name:

Mark L. Heleen

 

 

 

Title:

Chief Legal Officer

 

 

Date: May 24, 2024

 

 
4

 

v3.24.1.1.u2
Cover
May 23, 2024
Document Information Line Items  
Entity Registrant Name Navient Corporation
Entity Central Index Key 0001593538
Document Type 8-K
Amendment Flag false
Entity Emerging Growth Company false
Document Period End Date May 23, 2024
Entity File Number 001-36228
Entity Incorporation State Country Code DE
Entity Tax Identification Number 46-4054283
Entity Address Address Line 1 13865 Sunrise Valley Drive
Entity Address City Or Town Herndon
Entity Address State Or Province VA
Entity Address Postal Zip Code 20171
City Area Code 703
Local Phone Number 810-3000
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Common Stocks Member  
Document Information Line Items  
Security 12b Title Common stock, par value $.01 per share
Trading Symbol NAVI
Security Exchange Name NASDAQ
Senior Note Member  
Document Information Line Items  
Security 12b Title 6% Senior Notes due December 15, 2043
Trading Symbol JSM
Security Exchange Name NASDAQ
Preferred Stocks Member  
Document Information Line Items  
Security 12b Title Preferred Stock Purchase Rights
Security Exchange Name NASDAQ
Grafico Azioni Navient (NASDAQ:NAVI)
Storico
Da Mag 2024 a Giu 2024 Clicca qui per i Grafici di Navient
Grafico Azioni Navient (NASDAQ:NAVI)
Storico
Da Giu 2023 a Giu 2024 Clicca qui per i Grafici di Navient