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Filing Details

Accession Number:: 0000921895-22-001074
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-04-04 18:24:39
Reporting Period:: 2022-03-31

Accepted Time:: 2022-04-04 18:24:39
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1593538	Navient Corp	NAVI	()	NY

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1016268	J Edward Bramson	135 East 57Th Street New York NY 10022	No	No	Yes	No
1373507	Sherborne Investors Gp, Llc	135 East 57Th Street New York NY 10022	No	No	Yes	No
1406671	Sherborne Investors Management Gp, Llc	135 East 57Th Street New York NY 10022	No	No	Yes	No
1406672	Sherborne Investors Management Lp	135 East 57Th Street New York NY 10022	No	No	Yes	No
1406888	Sherborne Investors Lp	135 East 57Th Street New York NY 10022	No	No	Yes	No
1914277	Stephen Welker	135 East 57Th Street New York NY 10022	No	No	Yes	No
1914278	Newbury Investors Llc	135 East 57Th Street New York NY 10022	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2022-03-31	315,408	$17.13	29,123,997	No	4	P	Indirect	By Newbury Investors LLC
Common Stock	Acquisiton	2022-04-01	326,000	$17.13	29,449,997	No	4	P	Indirect	By Newbury Investors LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By Newbury Investors LLC
No	4	P	Indirect	By Newbury Investors LLC

Footnotes

This Form 4 is filed jointly by Newbury Investors LLC ("Newbury Investors"), Sherborne Investors LP ("Sherborne Investors LP"), Sherborne Investors Management LP ("Sherborne Investors Management"), Sherborne Investors GP, LLC ("Sherborne GP"), Sherborne Investors Management GP, LLC ("Sherborne Management GP"), Edward Bramson and Stephen Welker (collectively, the "Reporting Persons").
Each Reporting Person may be deemed to be a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each Reporting Person disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such shares of Common Stock for purposes of Section 16 or for any other purpose.
Shares of Common Stock directly owned by Newbury Investors. Each of Sherborne Investors LP, as the managing member of Newbury Investors, Sherborne Investors Management, as the investment manager of Newbury Investors, Sherborne GP, as the general partner of Sherborne Investors LP, Sherborne Management GP, as the general partner of Sherborne Investors Management, and Messrs. Bramson and Welker, as managing directors of each of Sherborne Management GP and Sherborne GP, may be deemed to be the beneficial owner of the shares of Common Stock directly owned by Newbury Investors.
The price reported in Column 4 is a weighted average price. These shares of Common Stock were purchased in multiple transactions at prices ranging from $16.81 to $17.43, inclusive. The Reporting Persons undertake to provide Navient Corporation, any security holder of Navient Corporation or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock purchased at each separate price within the range set forth in this footnote.
The price reported in Column 4 is a weighted average price. These shares of Common Stock were purchased in multiple transactions at prices ranging from $16.92 to $17.32, inclusive. The Reporting Persons undertake to provide Navient Corporation, any security holder of Navient Corporation or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock purchased at each separate price within the range set forth in this footnote.