SLM Corp — Director's Dealing 2017

Feb 15, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2017-02-10

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-10	Common Stock	F	51376	$12.43	Disposed	1395815	Direct
2017-02-10	Common Stock	F	10520	$12.43	Disposed	1385295	Direct

Footnotes

F1: On February 10, 2015, Mr. Quinlan was granted 317,460 restricted stock units ("RSUs") representing rights to receive shares of common stock of SLM Corporation (the "Company"), subject to continued employment, to vest in one-third increments on February 10, 2016, 2017 and 2018. On February 10, 2017, 105,820 shares vested in connection with these RSUs, of which 51,376 shares were withheld by the Company to satisfy Mr. Quinlan's tax withholding obligations.

F2: On February 10, 2015, a portion of Mr. Quinlan's 2014 Management Incentive Plan Award was granted in the form of RSUs that carry transfer restrictions that lapse in one-third increments on February 10, 2016, 2017 and 2018, regardless of continued employment. On February 10, 2017, the restrictions lapsed on 22,770 RSUs, and 10,520 shares of the Company common stock were withheld to satisfy Mr. Quinlan's tax obligations in connection with the lapsing of such restrictions.