<SEC-DOCUMENT>0001127602-17-004442.txt : 20170207
<SEC-HEADER>0001127602-17-004442.hdr.sgml : 20170207
<ACCEPTANCE-DATETIME>20170207192724
ACCESSION NUMBER:		0001127602-17-004442
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170203
FILED AS OF DATE:		20170207
DATE AS OF CHANGE:		20170207

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NAVIENT CORP
		CENTRAL INDEX KEY:			0001593538
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				464054283
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		123 JUSTISON STREET
		STREET 2:		SUITE 300
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801
		BUSINESS PHONE:		302-283-8000

	MAIL ADDRESS:	
		STREET 1:		123 JUSTISON STREET
		STREET 2:		SUITE 300
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New Corp
		DATE OF NAME CHANGE:	20131205

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HYNES TIMOTHY J IV
		CENTRAL INDEX KEY:			0001605706

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36228
		FILM NUMBER:		17580552

	MAIL ADDRESS:	
		STREET 1:		300 CONTINENTAL DRIVE
		CITY:			NEWARK
		STATE:			DE
		ZIP:			19713
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
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<DESCRIPTION>PRIMARY DOCUMENT
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    <periodOfReport>2017-02-03</periodOfReport>

    <issuer>
        <issuerCik>0001593538</issuerCik>
        <issuerName>NAVIENT CORP</issuerName>
        <issuerTradingSymbol>NAVI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001605706</rptOwnerCik>
            <rptOwnerName>HYNES TIMOTHY J IV</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>123 JUSTISON STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 300</rptOwnerStreet2>
            <rptOwnerCity>WILMINGTON</rptOwnerCity>
            <rptOwnerState>DE</rptOwnerState>
            <rptOwnerZipCode>19801</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>1</isOfficer>
            <officerTitle>EVP, Chief Risk&amp;Compliance Off</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
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                <value>Common Stock</value>
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                    <value>D</value>
                </directOrIndirectOwnership>
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        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>15.48</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2017-02-06</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
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                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>74349</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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                <footnoteId id="F9"/>
            </exerciseDate>
            <expirationDate>
                <value>2022-02-06</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>74349</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>74349</value>
                </sharesOwnedFollowingTransaction>
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                </directOrIndirectOwnership>
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        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">As previously reported, on February 3, 2016, Mr. Hynes was granted 28,758 restricted stock units (&quot;RSUs&quot;) under the Navient Corporation 2014 Omnibus Incentive Plan representing the right to receive shares of Navient Corporation (&quot;Navient&quot;) common stock in the future, which vest in one-third increments on each of the first, second and third anniversaries of the grant. On February 3, 2017, 9,586 shares of such RSUs were settled and an additional 464 shares were issued to Mr. Hynes upon the vesting of the related dividend equivalent rights.  In connection with this settlement, 3,824 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Hynes's tax withholding obligations.</footnote>
        <footnote id="F2">Dividend equivalent rights issued on RSUs and performance stock units (&quot;PSUs&quot;) are included in the reporting person's common stock holding balance.  Each dividend equivalent right is the economic equivalent of one share of Navient Corporation common stock.</footnote>
        <footnote id="F3">As previously reported, in connection with the April 30, 2014 separation of Navient from SLM Corporation (&quot;SLM&quot;), Navient established the Navient Corporation 2014 Omnibus Incentive Plan and issued new Navient equity awards to holders of outstanding SLM equity awards in order to maintain the intrinsic value of prior SLM award grants. On April 30, 2014, Mr. Hynes was granted 6,657 vested RSUs representing the right to receive shares of Navient common stock in the future, subject to transfer restrictions which lapse in one-third increments on February 4, 2015, 2016 and 2017. On February 4, 2017, 2,219 shares of such RSUs were settled and an additional 281.1321 shares were issued to Mr. Hynes upon the delivery of the related dividend equivalent rights.  In connection with this settlement, 799 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Hynes's tax withholding obligations.</footnote>
        <footnote id="F4">Also reflects the disposition of 0.1321 shares settled in cash upon the delivery of the related dividend equivalent rights, in accordance with the terms of the 2014 Navient Corporation Omnibus Incentive Plan.</footnote>
        <footnote id="F5">As previously reported, in connection with the April 30, 2014 separation of Navient from SLM, Navient established the Navient Corporation 2014 Omnibus Incentive Plan and issued new Navient equity awards to holders of outstanding SLM equity awards in order to maintain the intrinsic value of prior SLM award grants. On April 30, 2014, Mr. Hynes was granted 21,348 RSUs representing the right to receive shares of Navient common stock in the future, which vest in one-third increments on February 4, 2015, 2016 and 2017. On February 4, 2017, 7,116 shares of such RSUs were settled and an additional 899.4492 shares were issued to Mr. Hynes upon the vesting of the related dividend equivalent rights.  In connection with this settlement, 2,746 shares were withheld by Navient (as approved by the Navient Compensation and Personnel Committee) to satisfy Mr. Hynes's tax withholding obligations.</footnote>
        <footnote id="F6">Also reflects the disposition of 0.4492 shares settled in cash upon the delivery of the related dividend equivalent rights, in accordance with the terms of the 2014 Navient Corporation Omnibus Incentive Plan.</footnote>
        <footnote id="F7">Grant of RSUs under the Navient Corporation 2014 Omnibus Incentive Plan, which is classified as &quot;Common Stock,&quot; as permitted, since the RSUs will be settled solely by delivery of shares of Navient common stock. These RSUs vest in one-third increments on each of the first, second and third anniversaries of the grant date.</footnote>
        <footnote id="F8">Grant of PSUs which is classified as &quot;Common Stock,&quot; as permitted, since the PSUs will be settled solely by delivery of shares of the Company's common stock upon vesting.  A specified percentage of this target award will vest and be settled based upon the satisfaction of certain performance conditions over a three-year performance period ending on the final day of fiscal year 2019.  The performance conditions to be used shall be those approved by the Committee in connection with the Company's 2017 Long-Term Incentive Program and shall be set forth in the form of PSU award agreement approved by the Committee.  Each vested PSU will be settled in shares of the Company's common stock.</footnote>
        <footnote id="F9">Grant of net-settled stock options under the Navient Corporation 2014 Omnibus Incentive Plan. These options vest in one-third increments on each of the first, second and third anniversaries of the grant date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Kurt T. Slawson (POA) for Timothy J. Hynes IV</signatureName>
        <signatureDate>2017-02-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
