SEC Form 4 · accession 0001127602-16-040226
SLM Corp · SLM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven McGarry
Officer — EVP & Chief Financial Officer
Period of report
Feb 7, 2016
Accepted (ET)
Feb 9, 2016 · 4:36 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 7, 2016 | F | 1,737 | $6.14 | D | 182,737 | D | |
| Common Stock | holding | — | — | — | 2,141 | I | By 401(k) |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On February 7, 2013, Mr. McGarry was granted 15,262 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 7, 2014, 2015 and 2016. Mr. McGarry subsequently received an additional 460 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"). On April 30, 2014, the February 7, 2013 award was adjusted in the spin-off of Navient to reflect 10,175 RSUs outstanding. On February 7, 2016, 5,252 shares vested in connection with these RSUs, of which 1,737 shares were withheld by the Company to satisfy Mr. McGarry's tax withholding obligations.