Kerri A. Palmer - Feb 16, 2024 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 16, 2024
Transactions value $
-$379,061
Form type
4
Date filed
2/20/2024, 05:10 PM
Previous filing
Feb 15, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SLM Common Stock Award $0 +24.9K +14.63% $0.00 195K Feb 16, 2024 Direct F1, F2
transaction SLM Common Stock Tax liability -$61.6K -3.06K -1.57% $20.18 192K Feb 17, 2024 Direct F2, F3
transaction SLM Common Stock Tax liability -$261K -13K -6.75% $20.18 179K Feb 17, 2024 Direct F2, F4
transaction SLM Common Stock Tax liability -$56K -2.78K -1.55% $20.18 176K Feb 18, 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, 10,006 shares vested in connection with these RSUs, of which 3,055 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, 33,357 shares vested in connection with these RSUs, of which 12,953 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, 6,154 shares vested in connection with these RSUs, of which 2,776 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.