SLM Corp — Director's Dealing 2016

Jun 27, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2016-06-23

Reporting Person: KELER MARIANNE M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-06-23	Common Stock	A	10989	—	Acquired	49901	Direct

Footnotes

F1: The reporting person received shares of restricted common stock, issued pursuant to the terms of the SLM Corporation 2012 Omnibus Incentive Plan - 2016 Independent Director Restricted Stock Agreement (the "2016 Agreement") in partial payment of the annual retainer to independent directors. The restricted common stock award is subject to vesting upon the terms set forth in the 2016 Agreement.

F2: Includes 22,070 shares of the Issuer's common stock formerly indirectly held by The Marianne E. Keler Trust, a trust for the benefit of the reporting person. On November 23, 2015, the beneficial ownership of such shares was transferred to the direct holdings of reporting person.