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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...

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David L. Yowan

CEO of Navient

Education

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

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1957 - 68 years ago

CEO of Navient for

1 year 10 months (May 2023 - Present)

Previous Experience

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

Holdings

See how much did David L. Yowan make over time.

As the CEO of Navient, David L. Yowan has significant holdings in the company. As of early 2024, he owns 339,501 shares, reflecting his investment and commitment to the organization. This includes 271,660 shares tied to performance stock units and...

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Insider Trading

See recent insider trades of David L. Yowan.

NAVI

$4.00M

NAVI at $14.42/share

Jul 3, 2024

Received

NAVI

$4.00M

NAVI at $15.11/share

May 15, 2023

Received

NAVI

$139.99K

NAVI at $18.92/share

Feb 6, 2023

Received

NAVI

7,856 shares

NAVI

Feb 4, 2022

Received

NAVI

10,569 shares

NAVI

Feb 4, 2021

Received

NAVI

9,219 shares

NAVI

Feb 6, 2020

Received

NAVI

11,363 shares

NAVI

Feb 5, 2019

Received

NAVI

8,742 shares

NAVI

Mar 30, 2017

Received

Compensation History

See how much did David L. Yowan make over time.

In 2023, David L. Yowan's compensation as CEO of Navient totaled about $2.5 million. His base salary is $800,000, which is standard for a CEO in his position. Moreover, he earned a bonus of $729,833, reflecting his performance and the company's success. A significant component of his compensation comes from vested stock units valued at nearly $1.6 million, granted as part of his employment agreement. These units are designed to vest over time, tying his financial benefits closely to Navient's performance. Additionally, he will receive performance-based stock units that will vest based on specific company goals through 2025, linking his compensation further to the success and growth of Navient. This structure is intended to create alignment between the CEO's goals and those of the shareholders, ensuring that he is incentivized to drive the company's success.

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.

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