SLM Corp — Director's Dealing 2020

Jan 28, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM Corp (SLM)
CIK: 0001032033
Period of Report: 2020-01-26

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-26	Common Stock	F	3882	$11.48	Disposed	274330.3665	Direct
2020-01-26	Common Stock	F	1523	$11.48	Disposed	272807.3665	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2168.808	Indirect

Footnotes

F1: On January 26, 2018, the reporting person was granted restricted stock units ("RSUs") representing rights to receive shares of common stock of SLM Corporation (the "Company"), subject to vesting conditions, to vest in one-third increments on January 26, 2019, 2020 and 2021. On January 26, 2020, 13,571 shares vested in connection with these RSUs, of which 3,882 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.

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

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

F4: On January 26, 2018, the reporting person was granted restricted stock units ("RSUs") representing rights to receive shares of common stock of SLM Corporation (the "Company"), subject to transfer restrictions that lapse in one-third increments on January 26, 2019, 2020 and 2021. On January 26, 2020, the transfer restrictions lapsed in connection with 5,306 of these RSUs, of which 1,523 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.

F5: Represents the number of units held in a unitized stock fund, including reinvested dividends, in the Sallie Mae 401(k) Savings Plan.