ISDR Blueprint iXBRL Document
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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 20, 2020
 


Navient Corporation
(Exact name of registrant as specified in its charter)
 


 
Delaware
001-36228
46-4054283
(State or other jurisdiction
(Commission
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
 
123 Justison Street, Wilmington, Delaware
19801
(Address of principal executive offices)
(Zip Code)
 
 
Registrant’s telephone number, including area code (302) 283-8000
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:
 
☐ 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))
 
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.  ☐
 
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
 


 
ITEM 5.07       

SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
 
On May 20, 2020, Navient held its 2020 Annual Meeting of Shareholders (the “Annual Meeting”). As of the close of business on March 23, 2020, the record date for the Annual Meeting, 193,814,038 shares of common stock, par value $.01 per share, were issued, outstanding and entitled to vote. At the Annual Meeting, the holders of 175,514,597 shares, or approximately 90%, of the outstanding shares of common stock entitled to vote were represented directly 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 9 directors to hold office until the 2021 Annual Meeting of Shareholders and until their successors have been duly elected or appointed:
 
 
  For  
  Against  
  Abstain  
  Broker Non-Vote  
Frederick Arnold
    160,380,439 
    2,251,720 
    478,303 
    12,404,135 
Anna Escobedo Cabral
    162,574,737 
    96,728 
    438,997 
    12,404,135 
Larry Klane
    162,410,735 
    258,438 
    441,289 
    12,404,135 
Katherine A. Lehman
    161,705,239 
    966,777 
    438,446 
    12,404,135 
Linda A. Mills
    162,476,559 
    94,117 
    439,786 
    12,404,135 
John F. Remondi
    162,369,164 
    171,520 
    569,778 
    12,404,135 
Jane J. Thompson
    158,423,529 
    4,216,698 
    470,235 
    12,404,135 
Laura S. Unger
    162,030,568 
    641,346 
    435,548 
    12,404,135 
David L. Yowan
    161,240,491 
    1,429,397 
    440,574 
    12,404,135 
 
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, 2020, as follows: 
 
  For  
  Against  
  Abstain  
    171,791,149 
    3,263,941 
    459,507 
 
Proposal 3 – Non-binding Advisory Vote on Executive Compensation. The Company’s shareholders approved, by a non-binding advisory vote, the compensation of its named executive officers, as follows:
 
  For  
  Against  
  Abstain  
  Broker Non-Votes  
    158,231,606 
    4,341,592 
    537,264 
    12,404,135 
 
Proposal 4 – Vote to Indicate, on a Non-binding, Advisory Basis, the Preferred Frequency of Shareholder Advisory Votes on the Compensation of Named Executive Officers. A plurality of the Company’s shareholders voted in favor of a One Year frequency for the non-binding vote on executive compensation, as follows:
 
  One Year  
  Two Years  
  Three Years  
  Abstain  
  Broker Non-Votes  
    148,469,891 
    57,829 
    14,112,194 
    470,548 
    12,404,135 
 
 

SIGNATURES
 

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
 
 
 
 
 
Date: May 22, 2020
By:  
/s/  Mark L. Heleen
 
 
 
Mark L. Heleen
 
 
 
Chief Legal Officer
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 v3.20.1
Document and Entity Information
May 20, 2020
Entity Central Index Key 0001593538
Amendment Flag false
Document Type 8-K
Document Period End Date May 20, 2020
Entity Registrant Name Navient Corporation
Entity Incorporation, State or Country Code DE
Entity File Number 001-36228
Entity Tax Identification Number 46-4054283
Entity Address, Address Line One 123 Justison Street
Entity Address, City or Town Wilmington
Entity Address, State or Province DE
Entity Address, Postal Zip Code 19801
City Area Code 302
Local Phone Number 283-8000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Common Stock [Member]  
Title of 12(b) Security Common stock, par value $.01 per share
Trading Symbol NAVI
Security Exchange Name NASDAQ
Senior Notes [Member]  
Title of 12(b) Security 6% Senior Notes due December 15, 2043
Trading Symbol JSM
Security Exchange Name NASDAQ