A share repurchase program is when a company buys back its own shares from the marketplace. This reduces the total number of shares available, which can increase the value of each remaining share and signal confidence in the company's prospects. For investors, it often suggests that the company believes its stock is undervalued or that it has extra cash to return to shareholders.
tender offersfinancial
A tender offer is a proposal by one company or individual to buy shares from existing owners of a company at a specified price within a certain time frame. It matters to investors because it can lead to changes in company ownership or control, potentially affecting the value of their investments. Essentially, it’s a way for someone to try to purchase a large portion of a company’s stock directly from shareholders.
open market purchasesfinancial
Open market purchases are buys of a company’s shares (or other securities) made on public exchanges at prevailing market prices rather than through private deals. For investors this matters because when a company buys back its own stock it reduces the number of shares available, which can boost per-share earnings and often signals management’s confidence; it also affects supply, demand and short-term liquidity much like someone quietly buying up items from a crowded marketplace.
accelerated share repurchasesfinancial
An accelerated share repurchase is a program where a company hires an investment bank to buy back a large block of its own shares immediately, with the bank later settling the exact number of shares over a short period. Investors care because it quickly reduces the number of shares outstanding, which can raise earnings per share and signal management’s confidence, while also using company cash and potentially affecting future liquidity and valuation.
trading plansfinancial
Trading plans are pre-set instructions that tell an investor or company when and how much of a security to buy or sell, using clear triggers like price points, dates, or order sizes. They matter because they turn decisions into a repeatable roadmap that reduces emotional trading, helps manage risk, and — when disclosed by insiders — gives the market a predictable pattern of activity that investors can interpret like a schedule for future trades.
rules 10b5-1regulatory
A Rule 10b5-1 plan is a written, pre-set schedule that allows company insiders to buy or sell stock at predetermined times or under specific conditions, even if they later learn material nonpublic information. Think of it like an automatic thermostat that follows preset settings so trades aren’t made on impulse; it matters to investors because it reduces the chance of insider trading accusations and creates predictable, transparent stock activity.
10b-18regulatory
SEC Rule 10b-18 is a regulatory safe harbor that sets precise limits on how a company may repurchase its own shares on the open market—specifying acceptable timing, maximum daily volume, price conditions and the trading venues—so those buybacks are less likely to be treated as illegal market manipulation. For investors, it acts like traffic rules for buybacks: when a company follows them, repurchases are more predictable and reduce legal and reputational risk, making the likely impact on share supply and price easier to assess.
par valuefinancial
Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.
Board of Directors Approves New $500 Million Share Repurchase Program
NEWARK, Del.--(BUSINESS WIRE)--
Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released fourth quarter and full-year 2025 financial results. Complete financial results and related materials are available at www.SallieMae.com/investors. The materials will also be available on the Securities and Exchange Commission’s website at www.sec.gov.
Sallie Mae will host an earnings conference call today, Jan. 22, 2026, at 5:30 p.m. ET. Executives will be on hand to discuss various highlights of the quarter and year and to answer questions related to Sallie Mae’s performance. A live audio webcast of the conference call and presentation slides may be accessed at www.SallieMae.com/investors and the hosting website.
A replay of the webcast will be available via the company’s investor website approximately two hours after the call’s conclusion.
Sallie Mae announced today that its Board of Directors authorized a new stock repurchase program of up to $500 million of the Company’s outstanding common stock, par value $0.20 per share, to begin on Jan. 22, 2026 (the “2026 Share Repurchase Program”). The 2026 Share Repurchase Program is expected to be completed over the next approximately 24 months ending Feb. 4, 2028. The Company’s “2024 Share Repurchase Program,” authorized on Jan. 23, 2024, with a repurchase capacity of $650 million, remains open. Repurchases may be made under the 2024 Share Repurchase Program until it expires on Feb. 6, 2026, or is expended (whichever comes first).
Under the announced program, Sallie Mae may repurchase shares of common stock from time to time in various transaction formats including, but not limited to, tender offers, open market purchases, accelerated share repurchases, negotiated or block purchases, and/or pursuant to trading plans in accordance with Rules 10b5-1 and 10b-18 of the Exchange Act. The actual timing, number, and value of shares repurchased under the program will be determined by management at its discretion and are dependent on a number of factors. Sallie Mae reserves the right to suspend or discontinue share repurchases at any time and for any reason.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
