SLM director granted 7,349 restricted shares

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.

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.

Insider Trade Summary

Grant/Award: 7,349 shares

Grant/Award 1 txn

Insider Matheson James D.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	7,349	$0.00	$0.00

Holdings After Transaction: Common Stock — 111,836.589 shares (Direct)

Footnotes (3)

1. F1. 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. F2. Includes Dividend Equivalent Units issued in connection with Restricted Common Stock held by the reporting person.
3. F3. 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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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.

How many SLM (SLM) shares does James D. Matheson own after this Form 4 transaction?

Following the grant, James D. Matheson directly holds 111,836.589 shares of SLM common stock. This figure includes Dividend Equivalent Units issued in connection with Restricted Common Stock and additional shares accumulated through participation in a dividend reinvestment plan.

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.

Do Matheson’s reported SLM (SLM) holdings include dividends or reinvested shares?

Yes. His reported 111,836.589 SLM shares include Dividend Equivalent Units tied to Restricted Common Stock and shares acquired through a dividend reinvestment plan. These elements increase his total direct holdings beyond the newly granted 7,349 restricted shares alone.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 06/18/2026 - 04:21 PM EDT Learn about SEC filing dates

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).

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^*

Matheson James D.

(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)
06/16/2026

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	06/16/2026		A		7,349(1)	A	$0	111,836.589(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. 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 acquired under a dividend reinvestment plan.

Remarks:

	/s/ Richard Nelson (POA) for James D. Matheson	06/18/2026
	** 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)