UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): September 13,
2018
Navient Corporation
(Exact name of registrant as specified in its charter)
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Delaware
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001-36228
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46-4054283
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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123 Justison Street, Wilmington, Delaware
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19801
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(Address of principal executive offices)
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(Zip Code)
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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).
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Emerging
growth company
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☐
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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. ☐
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ITEM 8.01 OTHER EVENTS
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Navient
Corporation (the “Company” or “Navient”)
announced today that its Board of Directors approved a new share
repurchase program for up to $500 million of the Company's
outstanding common stock. The share repurchase authorization which
is effective immediately is in addition to the approximately $80
million unused authorization approved by the Board in December
2016. The authorizations permit the Company to repurchase shares
from time to time through a combination of open market repurchases,
privately negotiated transactions, accelerated share repurchase
transactions or similar transactions. The programs do not have an
expiration date.
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ITEM 9.01
FINANCIAL
STATEMENTS AND EXHIBITS
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(d) Exhibits
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Exhibit
Number
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Description
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99.1
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News
Release Dated September 13, 2018.
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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.
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NAVIENT CORPORATION
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Date:
September 13, 2018
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By:
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/s/
Mark L. Heleen
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Mark
L. Heleen
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Chief
Legal Officer
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NEWS RELEASE
For immediate release
Navient announces new $500 million share repurchase
authority
WILMINGTON, Del., Sept. 13, 2018 — Navient (Nasdaq:NAVI), a leading asset management
and business processing services company, announced today
that its Board of Directors approved a new share repurchase program
for up to $500 million of the company’s outstanding common
stock.
The
share repurchase authorization, which is effective immediately, is
in addition to the approximately $80 million unused authorization
approved by the Board in December 2016.
The
authorizations permit the company to repurchase shares from time to
time through a combination of open market repurchases, privately
negotiated transactions, accelerated share repurchase transactions
or other similar transactions. The programs do not have an
expiration date.
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About Navient
Navient (Nasdaq: NAVI) is a leading provider of asset management
and business processing solutions for education, healthcare and
government clients at the federal, state and local levels. The
company helps its clients and millions of Americans achieve
financial success through services and support. Headquartered in
Wilmington, Delaware, Navient also employs team members in western
New York, northeastern Pennsylvania, Indiana, Tennessee, Texas,
Virginia, Wisconsin, California and other locations. Learn more at
navient.com.
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Contact:
Media: Paul Hartwick, 302-283-4026,
paul.hartwick@navient.com
Investors: Joe Fisher, 302-283-4075,
joe.fisher@navient.com