SEC Form 4 · accession 0001127602-15-004775
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
Feb 4, 2015
Accepted (ET)
Feb 6, 2015 · 2:53 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 | Feb 4, 2015 | F | 22,122 | $9.56 | D | 388,892 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On February 4, 2014, Mr. Quinlan was granted 69,070 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 February 4, 2015, 2016 and 2017. As previously reported, on April 30, 2014, the award was adjusted as a result of the spin-off of Navient Corporation by the Company to reflect 192,604 RSUs outstanding. On February 4, 2015, 64,201 shares of such RSUs vested and 374 additional shares were issued to Mr. Quinlan pursuant to the related dividend equivalent rights, of which 22,122 shares were withheld by the Company to satisfy Mr. Quinlan's tax withholding obligations.