SLM Corp — Director's Dealing 2012

Nov 8, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2012-11-06

Reporting Person: WILLIAMS BARRY LAWSON (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-06	Common Stock	M	10900	$10.31	Acquired	54812	Direct
2012-11-06	Common Stock	F	6335	$17.74	Disposed	48477	Direct
2012-11-06	Common Stock	S	4565	$17.7437	Disposed	43912	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-11-06	Stock Options (Right to Buy)	$10.31	M	10900	Disposed	2020-01-28	Common Stock (10900)	Direct

Footnotes

F1: Dividend equivalent rights issued on previoulsy unvested restricted stock are included in Mr. Williams's common stock holding balance.