UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 30, 2024
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Navient Corporation |
(Exact name of registrant as specified in its charter) |
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Delaware | | 001-36228 | | 46-4054283 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
13865 Sunrise Valley Drive, Herndon, Virginia | | 20171 |
(Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code (703) 810-3000
Not Applicable
(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:
☐ | 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)) |
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 |
Preferred Stock Purchase Rights | None | The Nasdaq Global Select Market |
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. ☐
Item 7.01. REGULATION FD DISCLOSURE.
On January 30, 2024, Navient Corporation (the “Company”) issued a press release announcing strategic actions to simplify the Company, reduce its expense base, and enhance its flexibility as a result of the in-depth review overseen by the Board of Directors over the past several months. Supplemental materials about these strategic actions will be posted on Navient.com/investors tomorrow morning by 7 a.m. Navient will hold a live audio webcast tomorrow, January 31, 2024, at 8 a.m. ET to provide in-depth commentary on results of the business review and discuss its financial results. A copy of the press release is furnished herewith as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
SIGNATURE
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 | |
| | |
| By: | /s/ Mark L. Heleen | |
| | Name: | Mark L. Heleen | |
| | Title: | Chief Legal Officer | |
Date: January 30, 2024
