SEC Form 4 · accession 0001127602-18-003045
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
Jan 26, 2018
Accepted (ET)
Jan 30, 2018 · 7:46 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,F2 | Jan 26, 2018 | A | 41,953 | $0.00 | A | 363,631 | D | |
| Common StockF3 | Jan 26, 2018 | A | 16,257 | $0.00 | A | 379,888 | D | |
| Common StockF4 | Jan 26, 2018 | F | 536 | $11.62 | D | 379,352 | D | |
| Common StockF5 | Jan 27, 2018 | F | 6,714 | $11.62 | D | 372,638 | D | |
| Common StockF6 | Jan 27, 2018 | F | 1,801 | $11.62 | D | 370,837 | D | |
| Common StockF7 | holding | — | — | — | 2,142 | I | 401(k) Savings Plan |
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 classified 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 January 26, 2019, 2020 and 2021.
- F2The total number of shares of Common Stock is adjusted to correct for a prior error in transmission with respect to the number of shares of Common Stock reported to be held by the Reporting Person.
- F3A portion of the reporting person's 2017 Management Incentive Plan Award was granted in the form of RSUs that carry transfer restrictions that lapse in one-third increments on January 26, 2019, 2020 and 2021, regardless of continued employment.
- F4Represents shares of the Company common stock required to be withheld to satisfy the reporting person's tax withholding obligations upon the grant of RSUs.
- F5On January 27, 2017, the reporting person was granted restricted stock units ("RSUs") representing rights to receive shares of common stock of SLM Corporation (the "Company"), subject to vesting conditions, to vest in one-third increments on January 27, 2018, 2019 and 2020. On January 27, 2018, 14,192 shares vested in connection with these RSUs, of which 6,714 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
- F6On January 27, 2017, the reporting person was granted restricted stock units ("RSUs") representing rights to receive shares of common stock of SLM Corporation (the "Company"), subject to transfer restrictions that lapse in one-third increments on January 27, 2018, 2019 and 2020. On January 27, 2018, the transfer restrictions lapsed in connection with 5,356 of these RSUs, of which 1,801 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
- F7Represents the number of units held in a unitized stock fund in the Sallie Mae 401(k) Savings Plan as of January 23, 2018.