SEC Form 4 · accession 0001127602-16-040073
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, 2016
Accepted (ET)
Feb 8, 2016 · 5:59 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 | Feb 4, 2016 | F | 22,086 | $6.06 | D | 737,474 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1As previously reported, on February 4, 2014, Mr. Quinlan was granted 69,070 restricted stock units ("RSUs") representing rights to receive shares of common stock of SLM Corporation (the "Company") to vest in one-third increments on February 4, 2015, 2016 and 2017. Mr. Quinlan subsequently received an additional 375 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 February 4, 2014 award was adjusted in the spin-off of Navient to reflect 192,604 RSUs outstanding. On February 4, 2016, 64,576 shares vested in connection with these RSUs, of which 22,086 shares were withheld by the Company to satisfy Mr. Quinlan's tax withholding obligations.