SLM Corp — Director's Dealing 2015

Feb 12, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2015-02-10

Reporting Person: Boyles Jonathan (SVP & Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-10	Common Stock	A	39682	$9.45	Acquired	76032.3867	Direct
2015-02-10	Common Stock	A	9920	$9.45	Acquired	85952.3867	Direct
2015-02-10	Common Stock	F	337	$9.45	Disposed	85615.3867	Direct

Footnotes

F1: A long-term incentive award of restricted stock units ("RSUs") under the SLM Corporation 2012 Omnibus Incentive Plan, which is classified as "Common Stock," as permitted, since the RSUs will be settled solely by delivery of shares of SLM Corporation (the "Company") common stock. These RSUs vest in one-third increments on the first, second and third anniversary of the grant date.

F2: A portion of Mr. Boyles's 2014 Management Incentive Plan Award was deferred in the form of vested RSUs that carry transfer restrictions that lapse in one-half increments on the first and second anniversary of the grant date.

F3: Represents shares required to be withheld by the Company to satisfy Mr. Boyles's tax withholding obligations upon the grant of RSUs.