Steven McGarry - Jan 28, 2022 Form 4 Insider Report for SLM Corp (SLM)

Role
EVP & Chief Financial Officer
Signature
/s/ Jeffrey Lipschutz (POA) for Steven J. McGarry
Stock symbol
SLM
Transactions as of
Jan 28, 2022
Transactions value $
-$135,306
Form type
4
Date filed
2/1/2022, 03:20 PM
Next filing
Feb 8, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SLM Common Stock Tax liability -$49.6K -2.76K -0.85% $18.00 320K Jan 28, 2022 Direct F1, F2
transaction SLM Common Stock Tax liability -$37K -2.06K -0.64% $18.00 318K Jan 28, 2022 Direct F2, F3
transaction SLM Common Stock Tax liability -$48.7K -2.7K -0.85% $18.00 316K Jan 30, 2022 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 28, 2019, the reporting person was granted restricted stock units ("RSUs") representing rights to receive shares of Common Stock of SLM Corporation (the "Company"), subject to vesting conditions, to vest in one-third increments on January 28, 2020, 2021, and 2022. On January 28, 2022, 9,927 shares vested in connection with these RSUs, of which 2,756 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
F2 Includes Dividend Equivalent Units issued in connection with RSUs held by the Reporting Person.
F3 On January 28, 2019, the reporting person was granted RSUs representing rights to receive shares of Common Stock of the Company, subject to transfer restrictions that lapse in one-third increments on January 28, 2020, 2021 and 2022. On January 28, 2022, the transfer restrictions lapsed in connection with 7,337 of these RSUs, of which 2,058 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
F4 On January 30, 2020, the reporting person was granted RSUs representing rights to receive shares of Common Stock of the Company, subject to vesting conditions, to vest in one-third increments on January 30, 2021, 2022, and 2023. On January 30, 2022, 9,671 shares vested in connection with these RSUs, of which 2,703 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.