Navient in its entry into the Nomination and Cooperation Agreement with Sherborne Investors

On April 18, 2022, Navient Corporation and Sherborne Investors today announced that they have entered into a Nomination and Cooperation Agreement, pursuant to which Navient’s Board of Directors will nominate Edward Bramson for election to Navient’s Board of Directors at Navient’s upcoming 2022 annual meeting, and the Sherborne-affiliated parties will be subject to various standstill and other restrictions.  Mr. Bramson is a partner in and co-founder of Sherborne Investors, which manages equity investments in public and private companies and holds approximately 19.7% of Navient’s outstanding common stock.  Wachtell, Lipton, Rosen & Katz served as legal advisor to Navient.