Jonathan W. Witter - Apr 20, 2022 Form 4 Insider Report for SLM Corp (SLM)

Role
CEO, Director
Signature
/s/ Jeffrey Lipschutz (POA) for Jonathan W. Witter
Stock symbol
SLM
Transactions as of
Apr 20, 2022
Transactions value $
-$3,394,718
Form type
4
Date filed
4/22/2022, 05:02 PM
Previous filing
Feb 23, 2022
Next filing
Feb 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SLM Common Stock Tax liability -$688K -39.4K -3.8% $17.47 997K Apr 20, 2022 Direct F1, F2
transaction SLM Common Stock Tax liability -$2.71M -155K -15.55% $17.47 842K Apr 20, 2022 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On April 20, 2020, the reporting person was granted restricted stock units ("RSUs") representing rights to receive shares of common stock of the Company, subject to vesting conditions, to vest in one-third increments on April 20, 2021, 2022 and 2023. On April 20, 2022, 81,481 shares vested in connection with these RSUs, of which 39,357 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
F2 Includes Dividend Equivalent Units in connection with RSUs held by the reporting person.
F3 On April 20, 2020, the reporting person was granted RSUs representing rights to receive shares of common stock of the Company, subject to vesting conditions, to vest 40% on April 20, 2021, 40% on April 20, 2022 and 20% on April 20, 2023. On April 20, 2022, 320,826 shares vested in connection with these RSUs, of which 154,960 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.