Munish Pahwa - 16 Feb 2024 Form 4 Insider Report for SLM Corp (SLM)

Role
Chief Risk Officer
Signature
/s/ Jeffrey Lipschutz (POA) for Munish Pahwa
Issuer symbol
SLM
Transactions as of
16 Feb 2024
Net transactions value
-$142,552
Form type
4
Filing time
20 Feb 2024, 16:57:55 UTC
Previous filing
20 Jul 2023
Next filing
14 May 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SLM Common Stock Award $0 +17,528 +25% $0.000000 86,789 16 Feb 2024 Direct F1, F2
transaction SLM Common Stock Tax liability $39,775 -1,971 -2.3% $20.18 84,818 17 Feb 2024 Direct F2, F3
transaction SLM Common Stock Tax liability $68,451 -3,392 -4% $20.18 81,426 17 Feb 2024 Direct F2, F4
transaction SLM Common Stock Tax liability $34,326 -1,701 -2.1% $20.18 79,725 18 Feb 2024 Direct F2, F5
* 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 16, 2025, 2026, and 2027.
F2 Includes Dividend Equivalent Units in connection with RSUs held by the reporting person.
F3 On February 17, 2023, 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 17, 2024, 2025, and 2026. On February 17, 2024, 6,365 shares vested in connection with these RSUs, of which 1,971 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
F4 On February 17, 2023, 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 17, 2024, 2025, and 2026. On February 17, 2024, 10,010 shares vested in connection with these RSUs, of which 3,392 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
F5 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, 2024, 5,495 shares vested in connection with these RSUs, of which 1,701 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.