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SLM Corp (SLM) director granted restricted and retainer shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Manvitz Ted reported acquisition or exercise transactions in this Form 4 filing.

SLM Corp director Ted Manvitz reported two stock-based compensation awards of Common Stock. On June 16, 2026, he received 7,349 shares as a grant in lieu of his quarterly cash retainer and committee fees, valued at the closing share price on the grant date. On June 17, 2026, he received an additional 1,062 shares of Restricted Common Stock as part of the annual retainer for independent directors under the 2021 Omnibus Incentive Plan’s 2026 Independent Director Restricted Stock Agreement. These awards, which include Dividend Equivalent Units and shares from a dividend reinvestment plan, are subject to vesting terms, and his direct holdings after these grants total 76,041.435 shares of SLM Corp Common Stock.

Positive

  • None.

Negative

  • None.
Insider Manvitz Ted
Role null
Type Security Shares Price Value
Grant/Award Common Stock 1,062 $0.00 --
Grant/Award Common Stock 7,349 $0.00 --
Holdings After Transaction: Common Stock — 76,041.435 shares (Direct, null)
Footnotes (1)
  1. The reporting person received shares of Restricted Common Stock, issued pursuant to the terms of the SLM Corporation 2021 Omnibus Incentive Plan - 2026 Independent Director Restricted Stock Agreement (the "2026 Agreement") in partial payment of the annual retainer to independent directors. The Restricted Common Stock award is subject to vesting upon the terms set forth in the 2026 Agreement. Includes Dividend Equivalent Units issued in connection with Restricted Common Stock held by the reporting person. Includes shares of SLM Corporation's Common Stock (the "Shares") acquired under a dividend reinvestment plan. Represents a grant of Shares received in lieu of the reporting person's quarterly cash retainer and respective committee fees. The per share value of the Shares was equal to the closing sales price per share as of the grant date.
Restricted stock grant 1,062 shares Restricted Common Stock under 2026 Independent Director Restricted Stock Agreement on June 17, 2026
Retainer stock grant 7,349 shares Shares received June 16, 2026 in lieu of quarterly cash retainer and committee fees
Holdings after transactions 76,041.435 shares Total direct SLM Corp Common Stock held following the June 2026 grants
Number of acquisition transactions 2 transactions Both coded A as grant, award, or other acquisition of Common Stock
Restricted Common Stock financial
"The reporting person received shares of Restricted Common Stock, issued pursuant to the terms of the SLM Corporation 2021 Omnibus Incentive Plan"
Restricted common stock is company shares that carry limits on selling or transferring for a set period or until certain conditions are met, like time-based vesting or regulatory clearance. Think of them as shares in a locked box that gradually open; they can become freely tradable later but initially reduce the number of shares available on the market. Investors watch restricted stock because its eventual release can change a company’s share supply, affect stock price, and influence control and dilution.
2021 Omnibus Incentive Plan financial
"issued pursuant to the terms of the SLM Corporation 2021 Omnibus Incentive Plan - 2026 Independent Director Restricted Stock Agreement"
Dividend Equivalent Units financial
"Includes Dividend Equivalent Units issued in connection with Restricted Common Stock held by the reporting person."
Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.
dividend reinvestment plan financial
"Includes shares of SLM Corporation's Common Stock acquired under a dividend reinvestment plan."
A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.
annual retainer financial
"in partial payment of the annual retainer to independent directors."
committee fees financial
"grant of Shares received in lieu of the reporting person's quarterly cash retainer and respective committee fees."
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Manvitz Ted
(Last)(First)(Middle)
300 CONTINENTAL DRIVE
(Street)
NEWARK DELAWARE 19713
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
SLM Corp [ SLM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/16/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock06/16/2026A7,349(1)A$074,979.435(2)(3)D
Common Stock06/17/2026A1,062(4)A$076,041.435(2)(3)D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The reporting person received shares of Restricted Common Stock, issued pursuant to the terms of the SLM Corporation 2021 Omnibus Incentive Plan - 2026 Independent Director Restricted Stock Agreement (the "2026 Agreement") in partial payment of the annual retainer to independent directors. The Restricted Common Stock award is subject to vesting upon the terms set forth in the 2026 Agreement.
2. Includes Dividend Equivalent Units issued in connection with Restricted Common Stock held by the reporting person.
3. Includes shares of SLM Corporation's Common Stock (the "Shares") acquired under a dividend reinvestment plan.
4. Represents a grant of Shares received in lieu of the reporting person's quarterly cash retainer and respective committee fees. The per share value of the Shares was equal to the closing sales price per share as of the grant date.
Remarks:
/s/ Richard Nelson (POA) for Ted Manvitz06/18/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did SLM (SLM) director Ted Manvitz report in this Form 4?

Director Ted Manvitz reported receiving stock-based compensation awards of SLM Corp Common Stock. These include grants tied to his annual director retainer, quarterly cash retainer, and committee fees, all reported as acquisitions rather than open-market purchases or sales.

How many SLM (SLM) shares were granted to Ted Manvitz?

Ted Manvitz received 7,349 shares of Common Stock on June 16, 2026, and 1,062 shares of Restricted Common Stock on June 17, 2026. Both awards were reported as grants under SLM Corp’s compensation and incentive arrangements for independent directors.

Are the new SLM (SLM) director stock awards subject to vesting?

Yes. The 1,062-share Restricted Common Stock grant was issued under the 2026 Independent Director Restricted Stock Agreement and is subject to vesting terms in that agreement, meaning Manvitz’s full rights to those shares depend on meeting specified conditions.

What is Ted Manvitz’s SLM (SLM) shareholding after these grants?

After the reported grants, Ted Manvitz directly holds 76,041.435 shares of SLM Corp Common Stock. This total includes Restricted Common Stock, Dividend Equivalent Units, and shares previously acquired through the company’s dividend reinvestment plan.

Were these SLM (SLM) director transactions open-market buys or sales?

No. Both transactions were coded as awards (transaction code A), indicating grants or other acquisitions. Footnotes explain they were received as stock-based payment for the annual retainer, quarterly retainer, and committee fees, not as open-market purchases or sales.