SLM director receives stock grants as retainer

GREIG HENRY F reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

GREIG HENRY F reported acquisition or exercise transactions in this Form 4 filing.

SLM Corp director Henry F. Greig reported two stock-based compensation grants. On June 17, 2026 he received 1,089 shares of Restricted Common Stock as part of his annual independent director retainer, subject to vesting. On June 16, 2026 he received 7,349 common shares in lieu of his quarterly cash retainer and committee fees, valued at the closing share price on the grant date. Following these awards, his direct common stock holdings total 16,929.126 shares, including dividend equivalent units tied to prior restricted stock.

Insider Trade Summary

Grant/Award: 8,438 shares

Grant/Award 2 txns

Insider GREIG HENRY F

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,089	$0.00	$0.00
Grant/Award	Common Stock	7,349	$0.00	$0.00

Holdings After Transaction: Common Stock — 16,929.126 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. 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.

Key Figures

Restricted stock grant: 1,089 shares Shares in lieu of cash retainer: 7,349 shares Total direct holdings after grants: 16,929.126 shares

3 metrics

Restricted stock grant 1,089 shares Annual independent director retainer award on June 17, 2026

Shares in lieu of cash retainer 7,349 shares Quarterly cash retainer and committee fees on June 16, 2026

Total direct holdings after grants 16,929.126 shares Common stock held directly following June 17, 2026 award

Key Terms

Restricted Common Stock, Dividend Equivalent Units, 2021 Omnibus Incentive Plan, quarterly cash retainer

4 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.

2021 Omnibus Incentive Plan financial

"issued pursuant to the terms of the SLM Corporation 2021 Omnibus Incentive Plan - 2026 Independent Director Restricted Stock Agreement"

quarterly cash retainer financial

"received in lieu of the reporting person's quarterly cash retainer and respective committee fees."

FAQ

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

What insider transactions did SLM (SLM) director Henry F. Greig report?

Henry F. Greig reported two stock-based compensation grants, not market purchases or sales. He received 1,089 Restricted Common Stock shares for his annual director retainer and 7,349 common shares in lieu of his quarterly cash retainer and committee fees, both at a per-share value set on grant dates.

How many SLM shares does Henry F. Greig hold after these Form 4 grants?

After the reported grants, Henry F. Greig directly holds 16,929.126 SLM common shares. This total includes prior holdings plus the new awards and incorporates dividend equivalent units issued in connection with his existing Restricted Common Stock, as described in the Form 4 footnotes.

Are Henry F. Greig’s new SLM stock awards open-market purchases?

No, the new SLM shares are compensation awards, not open-market purchases. The Form 4 shows transaction code A, indicating grants received as Restricted Common Stock and shares issued instead of cash retainers and committee fees, with no cash paid by Greig for these awards.

What is the nature of the 1,089 Restricted Common Stock shares at SLM?

The 1,089 shares are Restricted Common Stock issued under SLM’s 2021 Omnibus Incentive Plan. They were granted in partial payment of the annual independent director retainer and are subject to vesting conditions set forth in the 2026 Independent Director Restricted Stock Agreement referenced in the filing.

Why did SLM issue 7,349 shares to Henry F. Greig instead of cash?

SLM issued 7,349 common shares to Henry F. Greig in lieu of his quarterly cash retainer and committee fees. The per-share value equaled the closing sales price on the grant date, effectively replacing cash compensation with stock while keeping the economic value tied to market pricing.

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

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Accepted by SEC EDGAR 06/18/2026 - 04:12 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^*

GREIG HENRY F

(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	15,840.126(2)	D
Common Stock	06/17/2026		A		1,089(3)	A	$0	16,929.126(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. 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. 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.

Remarks:

	/s/ Richard Nelson (POA) for Henry F. Greig	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)