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): May 21, 2015

 

 

Navient Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-36228   46-4054283

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(I.R.S. Employer

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

(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))

 

 

 

ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

On May 21, 2015, Navient Corporation (the “Company”) held its 2015 Annual Meeting of Shareholders (the “Annual Meeting”). As of the close of business on March 26, 2015, the record date for the Annual Meeting, 391,209,352 shares of common stock, par value $.01 per share, were outstanding and entitled to vote. At the Annual Meeting, 351,389,788 shares, or approximately 89.82%, of the outstanding shares of common stock entitled to vote were represented in person 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 13 directors to hold office until the 2016 Annual Meeting of Shareholders and until their successors have been duly elected or appointed, as follows:

 

     For      Against      Abstain      Broker Non-Votes  

John K. Adams, Jr.

      339,448,782         283,058         85,039         11,572,909   

Ann Torre Bates

      336,401,573         3,336,087         79,219         11,572,909   

Anna Escobedo Cabral

      339,443,516         294,827         78,536         11,572,909   

William M. Diefenderfer, III

      339,433,999         297,285         85,595         11,572,909   

Diane Suitt Gilleland

      338,839,110         913,259         64,510         11,572,909   

Katherine A. Lehman

      339,116,375         619,446         81,058         11,572,909   

Linda A. Mills

      339,147,552         636,816         32,511         11,572,909   

Barry A. Munitz

      338,896,810         849,266         70,803         11,572,909   

John F. Remondi

      339,187,858         600,808         28,213         11,572,909   

Steve L. Shapiro

      338,494,757         1,285,805         36,599         11,572,909   

Jane J. Thompson

      321,040,558         18,742,125         34,196         11,572,909   

Laura S. Unger

      339,494,562         291,255         31,062         11,572,909   

Barry L. Williams

      339,071,816         656,073         88,990         11,572,909   

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, 2015, as follows:

 

For

   

Against

   

Abstain

   

Broker Non-Votes

351,035,289

    306,909    47,590    0

Proposal 3 – Advisory Vote on Executive Compensation. The Company’s shareholders approved, by an advisory vote, the compensation of its named executive officers, as follows:

 

For

   

Against

   

Abstain

   

Broker Non-Votes

325,159,249

    14,580,569    77,061    11,572,909

Proposal 4 – Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation. Consistent with the Board of Directors’ recommendation, the Company’s shareholders approved, by an advisory vote, an annual frequency for the advisory vote on the compensation of its named executive officers, as follows:

 

1 Year

   

2 Years

   

3 Years

   

Abstain

313,041,597

    5,298,245    21,355,603    121,434

Proposal 5 – Approval of Material Terms for Performance-Based Awards. The Company’s shareholders approved the material terms for Performance-Based Awards under the Company’s 2014 Omnibus Incentive Plan, as follows:

 

For

   

Against

   

Abstain

   

Broker Non-Votes

324,864,565

    11,959,233    2,993,081    11,572,909

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 28, 2015 By:

/s/ Mark L. Heleen

Mark L. Heleen
Executive Vice President, Chief Legal Officer and Secretary
Navient (NASDAQ:NAVI)
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