SEC Form 4 · accession 0001127602-16-044227
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 26, 2016
Accepted (ET)
Mar 1, 2016 · 5:18 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 26, 2016 | A | 453,781 | $0.00 | A | 1,144,958 | D | |
| Common StockF2 | Feb 26, 2016 | A | 113,865 | $0.00 | A | 1,258,823 | D | |
| Common StockF3 | Feb 26, 2016 | F | 1,651 | $5.95 | D | 1,257,172 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1A long-term incentive award of restricted stock units ("RSUs") under the SLM Corporation 2012 Omnibus Incentive Plan, which is reported as "Common Stock," as permitted, since the RSUs will be settled solely by delivery of shares of SLM Corporation (the "Company") common stock. Subject to continuing employment, these RSUs vest in one-third increments on the first, second and third anniversary of the grant date.
- F2A portion of Mr. Quinlan's 2015 Management Incentive Plan Award was deferred in the form of vested RSUs, which are reported as common stock, as permitted, since the RSUs will be settled solely by delivery of shares of SLM Corporation (the "Company") common stock. These RSUs carry transfer restrictions that lapse in one-third increments on the first, second and third anniversary of the grant date.
- F3Represents shares required to be withheld by the Company to satisfy Mr. Quinlan's tax withholding obligations upon the grant of RSUs.