SEC Form 4 · accession 0001127602-16-035779
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, 2015
Accepted (ET)
Jan 5, 2016 · 3:59 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 | Dec 31, 2015 | F | 17,024 | $6.52 | D | 759,560 | 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 common stock of SLM Corporation (the "Company") to vest in one-third increments on December 31, 2014, 2015 and 2016. Mr. Quinlan subsequently received an additional 873 RSUs relating to the original RSU grant and vesting on the same schedule. These additional RSUs were attributable to dividends paid by the Company prior to the separation of Navient Corporation ("Navient"). As previously reported, subsequently on April 30, 2014, the January 21, 2014 award was adjusted in the spin-off of Navient to reflect 149,549 RSUs outstanding. On December 31, 2015, 50,141 shares vested in connection with these RSUs, of which 17,024 shares were withheld by the Company to satisfy Mr. Quinlan's tax withholding obligations.