SLM Corp — Director's Dealing 2014

May 2, 2014

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2014-04-30

Reporting Person: Pitcher Jed H (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4695.3209	Direct
Common Stock	2633	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$55.82	2016-01-26	Common Stock (2500)		Direct
Stock Options (Right to Buy)	$45.41	2017-01-25	Common Stock (500)		Direct
Stock Options (Right to Buy)	$21.50	2018-01-31	Common Stock (1000)		Direct
Stock Options (Right to Buy)	$5.73	2019-04-14	Common Stock (1000)		Direct
Stock Options (Right to Buy)	$12.05	2020-03-25	Common Stock (1000)		Direct

Footnotes

F1: Fifty percent of these options are exercisable; fifty percent of these options are exercisable upon the Corporation's common stock price reaching a closing price equal to or greater than $30.10 per share for five days; they also become exercisable eight years from the original grant date (January 31, 2016).