SLM Corp — Director's Dealing 2012

Feb 7, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2012-02-03

Reporting Person: SHAPIRO STEVEN L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-03	Common Stock	A	3439	—	Acquired	56504	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-03	Stock Options (Right to Buy)	$15.99	A	13994	Acquired	2017-02-03	Common Stock (13994)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3000	Indirect
Common Stock	129640	Indirect

Footnotes

F1: Represents annual grant of equity awards to a non-employee director. The restricted stock and stock options will vest if the non-employee director is re-elected as a director at the Company's 2012 annual meeting of shareholders, which meeting is currently scheduled for May 2012.