SLM Corp — Director's Dealing 2016

Nov 18, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2016-11-16

Reporting Person: Lutz Laurent Charles (EVP, GC and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-11-16	Common Stock	M	107775	$5.7343	Acquired	1052759.4601	Direct
2016-11-16	Common Stock	F	86678	$9.40	Disposed	966081.4601	Direct
2016-11-16	Common Stock	S	21097	$9.401	Disposed	944984.4601	Direct
2016-11-16	Common Stock	G	13000	—	Disposed	931984.4601	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-11-16	Stock Options (Right to Buy)	$5.7343	M	107775	Disposed	2017-02-03	Common Stock (107775)	Direct

Footnotes

F1: Stock options exercised by the reporting person in advance of pending expiration of options.

F2: Represents shares withheld by the Company to satisfy the exercise price of the option, and to satisfy the reporting person's tax withholding obligations upon the exercise of the option.

F3: Represents a gift to a previously created endowed public interest law fellowship.