SLM Corp — Director's Dealing 2015

Feb 10, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2015-02-07

Reporting Person: McGarry Steven (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-07	Common Stock	F	1784	$9.45	Disposed	104937.3371	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2140.446	Indirect

Footnotes

F1: On February 7, 2013, Mr. McGarry was granted a long-term incentive award of 15,262 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 vest and are settled on each of February 7, 2014, February 7, 2015 and February 7, 2016 by delivery of the Company's common stock. On February 7, 2015, 5,088 shares of such RSUs were settled and 164 additional shares were issued to Mr. McGarry pursuant to the related dividend equivalent rights, of which 1,784 shares were withheld by the Company to satisfy Mr. McGarry's tax withholding obligations.

F2: The information in this report is based on a plan statement dated as of January 30, 2015.