David Green
NAVIENTAbout David Green
David Green served as Executive Vice President of Navient and Chief Executive Officer of Earnest from April 2021 until his employment termination effective August 1, 2025; he is 43 years old . Prior roles at Earnest included Chief Product Officer (March 2018–February 2021) and Chief Operating Officer (February–April 2021), reflecting a product-led and operational background suited to digital lending . During his tenure, Earnest’s private education loan originations increased materially, reaching $1.8B in the first nine months of 2025 (up 73% from $1.0B a year earlier), with mid‑teens ROE economics targeted for new originations per management commentary .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Earnest (Navient) | Chief Product Officer | Mar 2018 – Feb 2021 | Led product strategy for digital lending platform |
| Earnest (Navient) | Chief Operating Officer | Feb 2021 – Apr 2021 | Operational leadership during scale-up |
| Earnest (Navient) | Chief Executive Officer | Apr 2021 – Aug 2025 | Drove growth in private education originations and portfolio economics |
External Roles
- Not disclosed in company filings. No public director or external board roles identified for David Green in Navient’s proxy or filings .
Fixed Compensation
- Base salary, target bonus %, and actual bonus paid: Not disclosed for David Green in the latest proxy (he is not listed among named executive officers) .
Performance Compensation
- RSUs, PSUs, options, and detailed incentive payout metrics tied to David Green: Not disclosed in the proxy or 8-Ks; STIP framework applied to selected executives and employees, but no specific disclosure for David Green’s participation or payout .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Executive stock ownership guidelines (EVP) | Lesser of 200,000 shares or $1,000,000 in value; 5-year compliance window; shares from equity grants must be held until thresholds are met |
| Hedging/Pledging policy | Prohibits hedging/derivatives, short sales, margin accounts, and pledging for directors and Section 16 officers; policy governs trading plans and compliance procedures |
| Beneficial ownership | Not disclosed for David Green in the ownership table (table covers directors and NEOs) |
| Compliance status | Proxy affirms policy compliance for directors and named executive officers; no specific compliance status disclosed for David Green (not an NEO) |
Employment Terms
| Provision | Terms |
|---|---|
| Role & tenure | EVP, CEO of Earnest: April 2021 – termination effective August 1, 2025 |
| Severance cash | Lump-sum $1,292,886, payable within 60 days post-termination, subject to ADEA revocation period |
| COBRA subsidy | Employer portion of medical/dental/vision premiums subsidized from Sept 1, 2025 through Feb 28, 2027 (max COBRA 18 months) |
| Rehire clawback | If rehired within 12 months, pro‑rata repayment of severance (net of taxes) within 30 days as condition of rehire |
| Cooperation & confidentiality | Post-termination cooperation with legal proceedings; confidentiality of financial terms; non‑disparagement; specific assignment/waiver provisions detailed in agreement |
| ADEA rights | 45‑day review period; 7‑day revocation right for ADEA waiver; payment contingent on non‑revocation |
| Non‑compete / non‑solicit | Not disclosed in the Agreement and Release excerpts; no explicit non‑compete terms identified |
Performance & Track Record
| Metric | 9M 2024 | 9M 2025 |
|---|---|---|
| Earnest private education originations ($USD Billions) | $1.0 | $1.8 (+73% YoY) |
| Consumer Lending KPIs | Q4 2024 | Q1 2025 |
|---|---|---|
| Net Interest Margin (bps) | 277 | 276 |
| Originations ($USD Millions) | 259 | 508 (refi volume doubled YoY; +46% vs prior quarter) |
- Strategic context: Corporate transformation (outsourcing loan servicing to MOHELA, BPS divestitures, and shared service cost reductions) supported scalable, lower-cost operations; Earnest positioned toward graduate borrowers with high balances and digital distribution .
Compensation Structure vs Performance Metrics
- For David Green specifically: Incentive metrics (e.g., rTSR, ROE, cash flow) are defined for NEO PSU programs; Earnest CEO compensation structure for David Green is not disclosed (no base/bonus/equity schedules) . Company‑wide STIP in 2H 2024 was designed to reward execution on strategic actions; participants were designated by the CEO, but individual awards for David Green are not disclosed .
Vesting Schedules and Insider Selling Pressure
- No vesting schedule or Form 4 disclosures for David Green found in filings; anti‑hedging/pledging policy reduces potential selling pressure through prohibitions on derivatives and pledging for covered officers .
Equity Ownership Alignment and Pledging
- Executive ownership guidelines apply to EVPs; David Green’s actual holdings and guideline compliance status are not disclosed; company policy prohibits hedging and pledging for covered insiders .
Employment Contracts, Severance, and Change‑of‑Control Economics
- Severance: Lump sum $1,292,886; COBRA subsidy through 2/28/2027; rehire repayment clause; ADEA revocation rights; cooperation and confidentiality obligations .
- Change‑of‑control terms: Not disclosed for David Green; change‑of‑control equity treatments in the proxy are presented for NEOs and do not list David Green .
Risk Indicators & Red Flags
- Executive transition: Earnest CEO departure effective August 1, 2025 introduces leadership continuity risk in the consumer lending growth engine .
- Legal/regulatory backdrop: Ongoing litigation and regulatory matters at Navient cited in Q3 2025 10‑Q; potential adverse outcomes could impact operations broadly (not specific to David Green) .
Say‑on‑Pay & Shareholder Feedback
- Company‑wide say‑on‑pay support remains high (98.4% approval in 2024), indicating shareholder alignment with NEO compensation programs; not specific to David Green’s pay .
Expertise & Qualifications
- Background: Product leadership and operations at Earnest prior to CEO role, aligned with digital origination and graduate borrower focus .
- Education: Not disclosed in filings .
Work History & Career Trajectory
- Progressive leadership at Earnest from product to COO to CEO; EVP status at Navient during Earnest CEO term .
Investment Implications
- Retention/transition risk: David Green’s departure raises near‑term execution risk for Earnest’s growth strategy; monitor management succession and operational KPIs (originations, credit, NIM) .
- Alignment visibility: Lack of disclosed equity holdings or incentive structures for David Green limits pay‑for‑performance assessment; corporate executive ownership guidelines and anti‑hedging/pledging policies mitigate alignment risks at the program level .
- Trading signals: Watch for updates on Earnest strategy and leadership at Navient’s Nov 19, 2025 webcast (Phase 2 transformation and Earnest growth strategy); originations ramp and capital allocation (repurchases vs growth) remain key catalysts .
- Execution focus: Earnest has demonstrated strong originations growth and targeted mid‑teens ROE economics; continuity of product/credit discipline post‑transition is critical to maintain returns and growth trajectory .