SEC Form 4 · accession 0001127602-16-041078
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 10, 2016
Accepted (ET)
Feb 12, 2016 · 9:20 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 10, 2016 | F | 35,926 | $5.70 | D | 701,548 | D | |
| Common StockF2 | Feb 10, 2016 | F | 10,371 | $5.70 | D | 691,177 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1As previously reported, on February 10, 2015, Mr. Quinlan was granted 317,460 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 10, 2016, 2017 and 2018. On February 10, 2016, 105,820 shares vested in connection with these RSUs, of which 35,926 shares were withheld by the Company to satisfy Mr. Quinlan's tax withholding obligations.
- F2On February 10, 2015, a portion of Mr. Quinlan's 2014 Management Incentive Plan Award was deferred in the form of vested RSUs that carry transfer restrictions that lapse in one-third increments on February 10, 2016, 2017 and 2018. On February 10, 2016, the restrictions lapsed on 22,769 RSUs, and 10,371 shares of the Company common stock were withheld to satisfy Mr. Quinlan's tax obligations in connection with the lapsing of such restrictions.