David L. Yowan is the current CEO and President of Navient Corporation, a company he joined after years of experience in finance at major firms. He stepped into the CEO role on May 15, 2023, after serving as a Board...

Number of Employees

4.5K

Year

2023

Total Compensation

$3.14M

Salary

$800.00K

Board Justification

Navient's compensation philosophy emphasizes aligning executive compensation with performance and shareholder interests, with a significant portion of total compensation being at-risk and dependent on achieving specific performance objectives.

Bonus

$729.83K

Board Justification

The bonus is based on the Management Incentive Plan (MIP) with a target of 150% of base salary, prorated for the number of days served as CEO in 2023, and calculated based on performance metrics.

Other

$6.26K

Board Justification

Includes employer contributions to defined contribution plan, transportation allowance, and insurance premiums.

Restricted Stock

$1.60M(105.89K RSU)

Board Justification

The RSUs granted on May 15, 2023, vest 50% on May 15, 2024, and 50% on December 31, 2024, contingent on continued employment as CEO.

Performance Metrics

The performance metrics for the 2023 Management Incentive Plan included Adjusted Diluted Core Earnings Per Share, Adjusted Core Earnings Efficiency Ratio, Business Processing EBITDA, and Private Education Loan Gross Defaults.

SEC Filing

From April 11, 2024

David L. Yowan

CEO of Navient

N

Education

Bachelor's degree in finance from the University of Michigan.

Field of Expertise

Finance & Banking - Finance

Born

January 1, 1957 - 68 years ago

Is Founder?

No

Current Tenure

1 year 7 months (May 2023 - Present)

Previous Experience

Executive Vice President and Corporate Treasurer of American Express; held various positions at Citigroup.