Jonathan W. Witter - Feb 16, 2024 Form 4 Insider Report for SLM Corp (SLM)

Signature
/s/ Jeffrey Lipschutz (POA) for Jonathan W. Witter
Stock symbol
SLM
Transactions as of
Feb 16, 2024
Transactions value $
-$1,133,733
Form type
4
Date filed
2/20/2024, 05:15 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 +144K +12.38% $0.00 1.3M Feb 16, 2024 Direct F1, F2
transaction SLM Common Stock Tax liability -$689K -34.2K -2.62% $20.18 1.27M Feb 17, 2024 Direct F2, F3
transaction SLM Common Stock Tax liability -$444K -22K -1.73% $20.18 1.25M Feb 18, 2024 Direct F2, F4
* 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, 68,179 shares vested in connection with these RSUs, of which 34,158 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
F4 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, 43,956 shares vested in connection with these RSUs, of which 22,023 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.