SLM Corp — Director's Dealing 2015

May 5, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2015-05-01

Reporting Person: Quinlan Raymond J. (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-01	Common Stock	F	13576	$10.30	Disposed	761084	Direct

Footnotes

F1: On May 1, 2014, Mr. Quinlan was awarded 83,887 Restricted Stock Units ("RSUs") representing rights to receive shares of SLM Corporation (the "Company") common stock in the future. Pursuant to the terms of the grant, shares will vest, and will be converted into shares of common stock, in one-third increments on May 1, 2015, 2016 and 2017. On May 1, 2015, 27,962 shares of such RSUs vested and were issued to Mr. Quinlan, of which 13,576 shares were withheld by the Company to satisfy Mr. Quinlan's tax withholding obligations.