SLM Corp (SLM) awards restricted stock grant to director Matheson
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SLM Corp director James D. Matheson received a grant of 7,349 shares of Restricted Common Stock as part of his annual retainer for independent directors. The award, issued under the 2021 Omnibus Incentive Plan, is subject to vesting under the 2026 Independent Director Restricted Stock Agreement.
After this grant, Matheson directly holds 111,836.589 shares of SLM common stock, which include Dividend Equivalent Units tied to prior restricted stock and shares acquired through a dividend reinvestment plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Matheson James D.
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 7,349 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 111,836.589 shares (Direct, null)
Footnotes (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 acquired under a dividend reinvestment plan.
Key Figures
Restricted stock grant: 7,349 shares
Holdings after transaction: 111,836.589 shares
Grant price: $0.00 per share
+2 more
5 metrics
Restricted stock grant
7,349 shares
Restricted Common Stock awarded as part of annual retainer
Holdings after transaction
111,836.589 shares
Direct SLM common stock holdings after grant
Grant price
$0.00 per share
Compensation grant, no cash paid by director
Transaction date
June 16, 2026
Date of Restricted Common Stock grant
Transaction type
Grant, award, or other acquisition
Form 4 code A, non-derivative acquisition
Key Terms
Restricted Common Stock, Dividend Equivalent Units, dividend reinvestment plan, 2021 Omnibus Incentive Plan, +1 more
5 terms
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.
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.
2021 Omnibus Incentive Plan financial
"issued pursuant to the terms of the SLM Corporation 2021 Omnibus Incentive Plan - 2026 Independent Director Restricted Stock Agreement"
annual retainer financial
"in partial payment of the annual retainer to independent directors."
FAQ
What insider transaction did SLM (SLM) report for director James D. Matheson?
SLM reported that director James D. Matheson received 7,349 shares of Restricted Common Stock as part of his independent director annual retainer. The shares were granted at no cash cost and are subject to vesting terms under the 2026 Independent Director Restricted Stock Agreement.
Was the SLM (SLM) insider transaction an open-market purchase or a stock grant?
The transaction was a stock grant, not an open-market purchase. Matheson received 7,349 shares of Restricted Common Stock as compensation under SLM’s 2021 Omnibus Incentive Plan, in partial payment of his annual retainer for serving as an independent director of the company.
What plan governed the restricted stock grant reported by SLM (SLM)?
The restricted stock grant was issued under the SLM Corporation 2021 Omnibus Incentive Plan. It is specifically governed by the 2026 Independent Director Restricted Stock Agreement, which sets the vesting conditions that must be satisfied before the Restricted Common Stock fully belongs to the director.