Form Type: 4

SEC EDGAR Link
Accession Number:0001127602-19-009036
Date:2019-02-26
Issuer: SLM CORP (SLM)
Original Submission Date:

Reporting Person:

MCGARRY STEVEN
300 CONTINENTAL DRIVE
NEWARK, DE 19713

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
COMMON STOCK 2019-02-26 A 25,209 a $0.00 306,760 direct
COMMON STOCK 2019-02-26 F 11,578 d $11.15 295,182 direct
COMMON STOCK 2019-02-26 F 10,291 d $11.15 284,891 direct
COMMON STOCK 2019-02-26 F 8,353 d $11.15 276,538 direct
COMMON STOCK 2019-02-26 0 $0.00 2,142 indirect
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
Footnotes
IDfootnote
f1 shares reported in this column represent shares awarded in connection with the vesting of performance stock unit awards ("psus"). such psus were subject to vesting based on slm corporation's (the "company") cumulative charge-offs of its private education loans from 2016-2018 that first entered full principal and interest repayment status in the fourth quarter of 2015. on february 26, 2019, the nominations, governance, and compensation committee certified that the company achieved the cumulative charge-offs performance goal of 3.90%. accordingly, the number of psus that vested on february 26, 2019 were at 150% of target.
f2 represents shares of the company common stock required to be withheld to satisfy the reporting person's tax withholding obligations.
f3 on february 26, 2016, the reporting person was granted restricted stock units ("rsus") representing rights to receive shares of common stock of the company, subject to vesting conditions, to vest in one-third increments on february 26, 2017, 2018 and 2019. on february 26, 2019, 22,409 shares vested in connection with these rsus, of which 10,291 shares were withheld by the company to satisfy the reporting person's tax withholding obligations.
f4 on february 26, 2016, the reporting person was granted rsus representing rights to receive shares of common stock of the company, subject to transfer restrictions that lapse in one-third increments on february 26, 2017, 2018 and 2019. on february 26, 2019, the transfer restrictions lapsed in connection with 18,190 of these rsus, of which 8,353 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 in the sallie mae 401(k) savings plan as of february 15, 2019.
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