SLM Corp — Director's Dealing 2014

Feb 11, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2014-02-07

Reporting Person: Lutz Laurent Charles (EVP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-07	Common Stock	F	2804	$22.75	Disposed	283283.1432	Direct

Footnotes

F1: As previously reported, on February 7, 2013, Mr. Lutz was granted 18,551 bonus restricted stock units ("RSUs") representing rights to receive shares of SLM Corporation (the "Company") common stock in the future, which grant was approved by the Compensation and Personnel Committee (the "Compensation Committee") of the Board of Directors. One-third of these RSUs are settled on the first, second and third anniversaries of the grant date by delivery of the Company's common stock. On February 7, 2014, 5,912 shares of such RSUs were settled and 155 additional shares were issued to Mr. Lutz upon the vesting of the related dividend equivalent rights, of which 2,804 shares were withheld by the Company (as approved by the Compensation Committee) to satisfy Mr. Lutz's tax withholding obligations.