STOCK TITAN

[Form 4] SLM Corp Insider Trading Activity

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

Richard Scott Blackley, a director of SLM Corporation, received a grant of 977 shares of Common Stock on 09/17/2025 in lieu of his quarterly cash retainer and committee fees. The grant’s per-share value was equal to the closing sales price on the grant date. After the transaction, the reporting person beneficially owned 42,257.5698 shares, which the filer states includes Dividend Equivalent Units issued in connection with restricted stock holdings. The Form 4 was signed by a power of attorney on behalf of Mr. Blackley on 09/19/2025.

Richard Scott Blackley, direttore di SLM Corporation, ha ricevuto il 17/09/2025 una assegnazione di 977 azioni comuni in sostituzione del suo compensate trimestrale in contanti e delle indennità di comitato. Il valore per azione dell’assegnazione era pari al prezzo di chiusura della data di assegnazione. Dopo l’operazione, la persona riportante possedeva in modo vantaggioso 42.257,5698 azioni, che il dichiarante indica include Unità Equivalenti ai Dividendi emesse in relazione a detenzioni di azioni soggette a restrizioni. Il Form 4 è stato firmato da una procura a nome del Sig. Blackley il 19/09/2025.

Richard Scott Blackley, director de SLM Corporation, recibió el 17/09/2025 una asignación de 977 acciones ordinarias en lugar de su remuneración en efectivo trimestral y las dietas de comité. El valor por acción de la asignación fue igual al precio de cierre de la fecha de la asignación. Después de la operación, la persona reportante poseía de forma beneficiosa 42.257,5698 acciones, que la parte informante indica incluye Unidades Equivalentes a Dividendos emitidas en relación con tenencias de acciones restringidas. El Formulario 4 fue firmado por un poder notarial en nombre del Sr. Blackley el 19/09/2025.

SLM Corporation의 이사인 Richard Scott Blackley는 2025-09-17에 분기 현금 보수 및 위원회 수수료를 대신하여 일반주 977주를 받았다. 수여당 주당 가치는 수여일의 종가와 동일했다. 거래 후 보고자는 42,257.5698주를 실질적으로 보유하게 되었으며, 이는 제한 주식 보유와 관련하여 발행된 배당금 등가 단위(Dividend Equivalent Units)를 포함한다고 제출자는 밝혔다. Form 4는 2025-09-19에 Blackley를 대신하여 위임장으로 서명되었다.

Richard Scott Blackley, administrateur de SLM Corporation, a reçu le 17/09/2025 une attribution de 977 actions ordinaires en lieu de sa rémunération trimestrielle en espèces et des frais de comité. La valeur par action de l’attribution était égale au cours de clôture à la date d’attribution. Après la transaction, la personne déclarant détenait bénéficiairement 42 257,5698 actions, ce que le déclarant indique inclure des Unités Équivalentes aux Dividendes émises dans le cadre de détentions d’actions restreintes. Le Formulaire 4 a été signé par une procuration au nom de M. Blackley le 19/09/2025.

Richard Scott Blackley, Vorstand von SLM Corporation, erhielt am 17.09.2025 eine Gewährung von 977 Stammaktien als Ersatz für sein vierteljährliches Barhonorar und seine Ausschusszahlungen. Der Wert pro Aktie der Gewährung entsprach dem Schlusskurs an dem Gewährungsdatum. Nach der Transaktion besaß die meldende Person vorteilhaft 42.257,5698 Aktien, was der Einreicher angibt und Dividendenvorteil-Einheiten umfasst, die im Zusammenhang mit restriktiven Aktienbeständen ausgestaltet wurden. Das Formular 4 wurde am 19.09.2025 von einer Vollmacht im Namen von Herrn Blackley unterzeichnet.

ريتشارد سكوت بلاكلي، مدير في SLM Corporation، تلقى في 17/09/2025 منحة قدرها 977 سهماً عاديًا بدلاً من أجره النقدي ربع السنوي وبدلات اللجنة. كانت قيمة السهم الواحدة للمنحة مساوية لسعر الإغلاق في تاريخ المنحة. بعد الصفقة، امتلك الشخص المبلغ له بشكل فعّال 42,257.5698 سهماً، وهو ما يذكره المبلغ المبلغ يشمل وحدات مكافئ الأرباح الموزعة التي أصدرت فيما يتعلق بحيازات الأسهم المقيدة. تم توقيع النموذج Form 4 بواسطة توكيل باسم السيد بلاكلي في 19/09/2025.

Richard Scott Blackley,SLM Corporation 的董事,于2025-09-17 以替代其季度现金酬金和委员会费的方式获批奖励977股普通股。 该授予的每股价值等于授予日的收市价。交易完成后,报告人实际持有42,257.5698股,包括与受限股票持有相关的股息等价单位。Form 4 于 2025-09-19 由代表 Blackley 先生的授权代理人签署。

Positive
  • None.
Negative
  • None.

Insights

TL;DR: Routine director compensation converted to equity; increases insider alignment without indicating material change to ownership control.

The Form 4 documents a standard equity grant to a director in lieu of cash compensation, a common governance practice to align director interests with shareholders. The 977-share grant was valued at the closing price on the grant date and the reported beneficial ownership of 42,257.5698 shares reflects existing restricted stock and Dividend Equivalent Units. There is no disclosure of option activity, sales, or derivative transactions in this filing.

TL;DR: Non-derivative acquisition only; transaction appears administrative and not material for valuation.

The filing records a non-derivative acquisition (code A) of 977 shares reported at $0 price because the shares were issued in lieu of cash compensation; valuation is described as the closing market price on the grant date. Beneficial ownership after the grant is precisely reported as 42,257.5698 shares, including Dividend Equivalent Units tied to restricted stock. No changes to debt, options, or disposal activity are reported.

Richard Scott Blackley, direttore di SLM Corporation, ha ricevuto il 17/09/2025 una assegnazione di 977 azioni comuni in sostituzione del suo compensate trimestrale in contanti e delle indennità di comitato. Il valore per azione dell’assegnazione era pari al prezzo di chiusura della data di assegnazione. Dopo l’operazione, la persona riportante possedeva in modo vantaggioso 42.257,5698 azioni, che il dichiarante indica include Unità Equivalenti ai Dividendi emesse in relazione a detenzioni di azioni soggette a restrizioni. Il Form 4 è stato firmato da una procura a nome del Sig. Blackley il 19/09/2025.

Richard Scott Blackley, director de SLM Corporation, recibió el 17/09/2025 una asignación de 977 acciones ordinarias en lugar de su remuneración en efectivo trimestral y las dietas de comité. El valor por acción de la asignación fue igual al precio de cierre de la fecha de la asignación. Después de la operación, la persona reportante poseía de forma beneficiosa 42.257,5698 acciones, que la parte informante indica incluye Unidades Equivalentes a Dividendos emitidas en relación con tenencias de acciones restringidas. El Formulario 4 fue firmado por un poder notarial en nombre del Sr. Blackley el 19/09/2025.

SLM Corporation의 이사인 Richard Scott Blackley는 2025-09-17에 분기 현금 보수 및 위원회 수수료를 대신하여 일반주 977주를 받았다. 수여당 주당 가치는 수여일의 종가와 동일했다. 거래 후 보고자는 42,257.5698주를 실질적으로 보유하게 되었으며, 이는 제한 주식 보유와 관련하여 발행된 배당금 등가 단위(Dividend Equivalent Units)를 포함한다고 제출자는 밝혔다. Form 4는 2025-09-19에 Blackley를 대신하여 위임장으로 서명되었다.

Richard Scott Blackley, administrateur de SLM Corporation, a reçu le 17/09/2025 une attribution de 977 actions ordinaires en lieu de sa rémunération trimestrielle en espèces et des frais de comité. La valeur par action de l’attribution était égale au cours de clôture à la date d’attribution. Après la transaction, la personne déclarant détenait bénéficiairement 42 257,5698 actions, ce que le déclarant indique inclure des Unités Équivalentes aux Dividendes émises dans le cadre de détentions d’actions restreintes. Le Formulaire 4 a été signé par une procuration au nom de M. Blackley le 19/09/2025.

Richard Scott Blackley, Vorstand von SLM Corporation, erhielt am 17.09.2025 eine Gewährung von 977 Stammaktien als Ersatz für sein vierteljährliches Barhonorar und seine Ausschusszahlungen. Der Wert pro Aktie der Gewährung entsprach dem Schlusskurs an dem Gewährungsdatum. Nach der Transaktion besaß die meldende Person vorteilhaft 42.257,5698 Aktien, was der Einreicher angibt und Dividendenvorteil-Einheiten umfasst, die im Zusammenhang mit restriktiven Aktienbeständen ausgestaltet wurden. Das Formular 4 wurde am 19.09.2025 von einer Vollmacht im Namen von Herrn Blackley unterzeichnet.

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
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).
1. Name and Address of Reporting Person*
Blackley Richard Scott

(Last) (First) (Middle)
300 CONTINENTAL DRIVE

(Street)
NEWARK DE 19713

(City) (State) (Zip)
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)
3. Date of Earliest Transaction (Month/Day/Year)
09/17/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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 09/17/2025 A 977(1) A $0 42,257.5698(2) 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.
Remarks:
/s/ Jeffrey Lipschutz (POA) for Richard Scott Blackley 09/19/2025
** 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.
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