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 29,
2020
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction
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(I.R.S. Employer
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of incorporation)
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Identification No.)
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(Former Name or Former Address, if Changed Since Last
Report)
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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:
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:
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of each class
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each exchange on which registered
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The
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ITEM
5.02
Departure
of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On June
2, 2020, Navient Corporation (the “Company”),
(NASDAQ: NAVI) announced that its Chief Financial Officer and
Principal Accounting Officer, Christian Lown, resigned on May 29,
2020 to accept a new career opportunity.
Ted
Morris will serve as Acting Chief Financial Officer and Principal
Accounting Officer effective immediately. He will report to
Jack Remondi, the Company’s President and CEO. Mr.
Morris, age 48, has served as the Company’s Controller since
2014. The terms of Mr. Morris’s compensation have not yet
been determined. In accordance with Instruction 2 of Item 5.02 of
Form 8-K, the Company will amend this Current Report on Form 8-K
within four business days after such information is determined or
becomes available.
ITEM
7.01
Regulation
FD Disclosure.
On June
2, 2020, the Company issued a press release announcing the matters
set forth above. A copy of the press release is furnished as
Exhibit 99.1 to this Current Report on Form 8-K. A copy of
the press release is also available on the Company’s website
at www.navient.com.
The
information in Item 7.01 of this Current Report on Form 8-K is
being furnished and shall not be deemed “filed” for the
purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), or otherwise subject to
the liability of such section or incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as shall be expressly set forth by specific
reference in such a filing.
ITEM
9.01
Financial
Statements and Exhibits.
(d)
Exhibits
Exhibit No.
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Exhibit
No.
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Exhibit
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Press
Release dated June 2, 2020
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104
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Cover
Page Interactive Data File (embedded within the Inline XBRL
document).
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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:
June 2, 2020
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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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Exhibit 99.1
NEWS RELEASE
For immediate release
Navient announces CFO changes
WILMINGTON, Del., June 2, 2020—Navient (Nasdaq: NAVI),
a leader in education loan management and business processing
solutions, announced that its Chief Financial Officer, Christian
Lown, has resigned to accept a new career opportunity.
Ted
Morris will serve as acting CFO, effective immediately. Mr. Morris
joined the company in 2003 and has served as Navient’s
controller since 2014.
“Navient
has unquestionably benefited from Chris’s contributions
across our enterprise,” said Jack Remondi, president and CEO.
“He has helped to build a stronger, more resilient company,
and we wish him well in his new endeavors.”
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About Navient
Navient
(Nasdaq: NAVI) is a leading provider of education loan management
and business processing solutions for education, healthcare, and
government clients at the federal, state, and local levels. We help
our clients and millions of Americans achieve success through
technology-enabled financing, services, and support. Learn more at
Navient.com.
Contact:
Media: Paul Hartwick, 302-283-4026,
paul.hartwick@navient.com
Investors: Joe Fisher, 302-283-4075,
joe.fisher@navient.com
Nathan Rutledge, 703-984-6801,
nathan.rutledge@navient.com
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