Jonathan W. Witter - Apr 20, 2023 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, 2023
Transactions value $
-$1,820,234
Form type
4
Date filed
4/24/2023, 04:10 PM
Previous filing
Feb 22, 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 Tax liability -$613K -42K -3.44% $14.59 1.18M Apr 20, 2023 Direct F1, F2
transaction SLM Common Stock Tax liability -$1.21M -82.7K -7.01% $14.59 1.1M Apr 20, 2023 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, 2023, 83,878 shares vested in connection with these RSUs, of which 42,024 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, 2023, 165,136 shares vested in connection with these RSUs, of which 82,735 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.