SEC Form 4 · accession 0001127602-15-000128
SLM Corp · SLM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Raymond J. Quinlan
Officer — Chairman & CEO · Director
Period of report
Dec 31, 2014
Accepted (ET)
Jan 2, 2015 · 2:39 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001032033
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Dec 31, 2014 | F | 17,023 | $10.19 | D | 411,014 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1As previously reported, on January 21, 2014, Mr. Quinlan was granted 53,630 restricted stock units ("RSUs") representing rights to receive shares of SLM Corporation (the "Company") common stock in the future. Pursuant to the terms of the grant, shares will vest, and will be converted into shares of common stock, in one-third increments on December 31, 2014, 2015 and 2016. As previously reported, on April 30, 2014, the award was adjusted as a result of the spin-off of Navient Corporation by the Company. The award was adjusted to reflect 149,549 RSUs outstanding. On December 31, 2014, 49,849 shares of such RSUs vested and 291 additional shares were issued to Mr. Quinlan upon the vesting of the related dividend equivalent rights, of which 17,023 shares were withheld by the Company to satisfy Mr. Quinlan's tax withholding obligations.
- F2Fractional amounts have been rounded to the next whole number pursuant to the terms of the adjustment resulting from the spin-off of Navient Corporation from the Company.