SLM Corp (SLM) director granted 1,242 shares as board compensation

Rhea-AI Filing Summary

SLM Corp director Ted Manvitz received a stock grant of 1,242 shares of Common Stock as part of his board compensation. The shares were issued in lieu of his quarterly cash retainer and committee fees, with the per share value based on the closing price on the grant date.

After this award, Manvitz directly holds 67,598.609 shares, which include dividend equivalent units tied to restricted stock and shares accumulated through a dividend reinvestment plan. This is a compensation-related, non-cash acquisition rather than an open-market purchase.

SEC Form 4

FORM 4

UNITED 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

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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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/18/2026		A		1,242(1)	A	$0	67,598.609(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents a grant of shares of SLM Corporation's Common Stock (the "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.

2. Includes Dividend Equivalent Units issued in connection with Restricted Common Stock held by the reporting person.

3. Includes Shares acquired under a dividend reinvestment plan.

Remarks:

	/s/ Jeffrey Lipschutz (POA) for Ted Manvitz	03/19/2026
	** Signature of Reporting Person	Date
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)

FAQ

What insider transaction did SLM (SLM) director Ted Manvitz report?

Director Ted Manvitz reported receiving 1,242 shares of SLM Corp Common Stock as a stock grant. The award was issued instead of his quarterly cash retainer and committee fees, making this a compensation-related share acquisition rather than an open-market purchase.

How many SLM (SLM) shares does Ted Manvitz hold after this Form 4 grant?

After the reported grant, Ted Manvitz directly holds 67,598.609 SLM Corp Common Stock shares. This total includes dividend equivalent units linked to restricted stock and additional shares accumulated through a dividend reinvestment plan, giving a fuller picture of his overall equity position.

Was the SLM (SLM) Form 4 transaction a stock purchase or a grant?

The Form 4 transaction was a stock grant, not a cash purchase. Manvitz received 1,242 shares in lieu of his quarterly cash retainer and committee fees, with the grant value tied to SLM’s closing share price on the grant date.

How was the value of Ted Manvitz’s SLM (SLM) stock grant determined?

The value of the granted shares was based on SLM Corp’s closing sales price per share on the grant date. This per share price was used to convert Manvitz’s quarterly cash retainer and committee fees into 1,242 shares of Common Stock.

What do the footnotes on the SLM (SLM) Form 4 filing explain?

The footnotes explain that the 1,242 shares were granted instead of cash fees, and that Manvitz’s total holdings also include dividend equivalent units on restricted stock and shares acquired through a dividend reinvestment plan, clarifying the components of his reported share balance.