Management Change/Compensation - Form 8-K

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

On April 4, 2024, Laura S. Unger, formally notified the Board of Directors (the "Board") of Navient Corporation (the "Company") that she would not be standing for reelection to the Board at the Company's Annual Meeting of Shareholders on May 23, 2024 (the "Annual Meeting"), as disclosed in the Company's definitive proxy statement on Schedule 14A, filed with the Securities and Exchange Commission on April 11, 2024. She will continue to serve as a director until the Annual Meeting. Ms. Unger's resignation was not the result of any dispute or disagreement with the Company or the Company's Board on any matter relating to the operations, policies or practices of the Company. Rather, after almost a decade of service on the Company's Board, Ms. Unger believed that the timing of her resignation was appropriate and in the best interest of the Company's shareholders as the Company works to implement its strategic actions.