SLM Corp — Director's Dealing 2013

Apr 3, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2013-04-01

Reporting Person: LORD ALBERT L (Director, Vice Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-04-01	Common Stock	S	20000	$20.4065	Disposed	1002533.481	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	30293.1264	Indirect
Common Stock	2100	Indirect
Common Stock	145310.6416	Indirect

Footnotes

F1: The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on February 14, 2013, and effective on February 19, 2013.

F2: Represents the weighted average price per share of stock sold by Mr. Lord between $20.40 and $20.43. The reporting person undertakes to provide to SLM Corporation, any security holder of SLM Corporation or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.

F3: Dividend equivalent rights issued on RSUs and PSUs are included in Mr. Lord's common stock holding balance.

F4: Between February 28, 2013 and April 1, 2013, Mr. Lord acquired 199.5144 share equivalents of SLM common stock under the SLM 401(k) Plan. The information in this report is based on the individual's actual account balance as of April 1, 2013.

F5: Between February 28, 2013 and April 1, 2013, Mr. Lord acquired 957.037 share equivalents of SLM common stock under the SLM Supplemental Thrift & Savings Plan. The information in this report is based on the individual's actual account balance as of April 1, 2013.