SEC Form 4 · accession 0001127602-15-004780
SLM Corp · SLM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles P Rocha
Officer — SVP & Chief Marketing Officer
Period of report
Feb 4, 2015
Accepted (ET)
Feb 6, 2015 · 2:55 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 | 3,864 | $9.56 | D | 68,146 | D | |
| Common StockF2 | Feb 4, 2015 | F | 951 | $9.56 | D | 67,194 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On February 4, 2014, Mr. Rocha was granted 12,171 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 33,940 RSUs outstanding. On February 4, 2015, 11,313 shares of such RSUs vested and 66 additional shares were issued to Mr. Rocha pursuant to the related dividend equivalent rights, of which 3,864 shares were withheld by the Company to satisfy Mr. Rocha's tax withholding obligations.
- F2On February 04, 2014, a portion of Mr. Rocha's 2013 Management Incentive Plan Award was deferred in the form of vested RSUs that carry transfer restrictions that lapsed fully after one year on February 04, 2015. On February 4, 2015, the restrictions lapsed on 2,989 RSUs, and 17.4387 additional shares issued to Mr. Rocha pursuant to the related divided equivalent rights, and 951 shares of the Company common stock were withheld to satisfy Mr. Rocha's tax obligations in connection with the lapsing of such restrictions.