Kerri A. Palmer - Feb 17, 2023 Form 4 Insider Report for SLM Corp (SLM)

Role
EVP, Chief Operational Officer
Signature
/s/ Jeffrey Lipschutz (POA) for Kerri A. Palmer
Stock symbol
SLM
Transactions as of
Feb 17, 2023
Transactions value $
-$27,348
Form type
4
Date filed
2/22/2023, 03:15 PM
Previous filing
Feb 7, 2023
Next filing
Feb 7, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SLM Common Stock Award $0 +29.2K +108.5% $0.00 56K Feb 17, 2023 Direct F1, F2
transaction SLM Common Stock Award $0 +97.2K +173.46% $0.00 153K Feb 17, 2023 Direct F1, F2
transaction SLM Common Stock Tax liability -$27.3K -1.88K -1.22% $14.57 151K Feb 18, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 A long-term incentive award of restricted stock units ("RSUs") under the SLM Corporation 2021 Omnibus Incentive Plan, which is classified as "Common Stock," as permitted, since the RSUs will be settled solely by delivery of shares of SLM Corporation (the "Company") Common Stock. Subject to continuing employment, these RSUs vest in one-third increments on February 17, 2024, 2025, and 2026.
F2 Includes Dividend Equivalent Units in connection with RSUs held by the reporting person.
F3 On February 18, 2022, 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 February 18, 2023, 2024, and 2025. On February 18, 2023, 5,976 shares vested in connection with these RSUs, of which 1,877 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.