SLM Corp — Director's Dealing 2020

Nov 17, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM Corp (SLM)
CIK: 0001032033
Period of Report: 2020-11-13

Reporting Person: McGarry Steven (EVP & Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-13	Common Stock	M	30000	$5.243	Acquired	302218.1159	Direct
2020-11-13	Common Stock	F	14524	$10.83	Disposed	287694.1159	Direct
2020-11-13	Common Stock	F	7112	$10.83	Disposed	280582.1159	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-11-13	Stock Options (Right to Buy)	$5.243	M	30000	Disposed	2021-01-27	Common Stock (30000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	0	Indirect

Footnotes

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

F2: Includes Dividend Equivalent units in connection with the restricted common stock granted under the SLM Corporation 2012 Omnibus Incentive Plan.

F3: Includes shares of common stock acquired under a dividend reinvestment plan.

F4: Represents shares withheld by the Company to satisfy the exercise price of the options.

F5: Represents shares of the Company common stock required to be withheld to satisfy the reporting person's tax withholding obligations.

F6: The Company divested the shares held in the SLM Stock Fund offered in the Company's 401(k) Savings and Supplemental 401(k) Savings Plans. Accordingly, all 2,168.808 shares of the SLM Stock Fund that Mr. McGarry held in the Sallie Mae 401(k) Savings Plan were divested on February 13, 2020.

F7: One-third of these options became exercisable on January 27, 2012. The next one-third of these options became exercisable on January 27, 2013. The remaining one-third of these options became exercisable on January 27, 2014.