SLM (SLM) director Blackley gifts 11,702 shares, retains over 31,000

Rhea-AI Filing Summary

SLM Corp director Richard Scott Blackley reported a bona fide gift of 11,702 shares of Common Stock on a Form 4. The shares were gifted to a trust, and the reporting person disclaims beneficial ownership of those shares. After the gift, he reports holding 31,603.679 shares directly, including Dividend Equivalent Units issued in connection with restricted common stock.

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

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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^*

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)
03/12/2026

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	03/12/2026		G(1)		11,702	D	$0	31,603.679(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 shares of SLM Corporation's common stock (the "Shares") gifted by the reporting person to a trust. The reporting person disclaims beneficial ownership of such Shares.

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	03/16/2026
	** 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.

FAQ

What insider transaction did SLM (SLM) director Richard Scott Blackley report?

Richard Scott Blackley reported a bona fide gift of 11,702 shares of SLM common stock. The shares were transferred to a trust, and he disclaims beneficial ownership of them, meaning he does not claim economic ownership of the gifted shares.

Was the SLM (SLM) insider transaction a sale or a gift?

The transaction was a bona fide gift, not a sale. Form 4 identifies it with code G and a price per share of $0.00, indicating no cash consideration was received for the transfer of 11,702 SLM common shares.

How many SLM (SLM) shares does Richard Scott Blackley report owning after the gift?

Following the gift transaction, Richard Scott Blackley reports holding 31,603.679 shares of SLM common stock directly. This total includes Dividend Equivalent Units that were issued in connection with restricted common stock awards he holds.

Who received the gifted SLM (SLM) shares from director Richard Scott Blackley?

The 11,702 SLM common shares were gifted to a trust. A footnote explains that the reporting person disclaims beneficial ownership of these shares, indicating he does not assert an economic ownership interest in the trust-held stock.

What does it mean that SLM (SLM) Dividend Equivalent Units are included in Blackley’s holdings?

His reported post-transaction holdings of 31,603.679 shares include Dividend Equivalent Units. These units are issued in connection with restricted common stock and mirror dividends, effectively increasing the number of units tied to his equity awards.

How many SLM (SLM) shares were involved in gift transactions on this Form 4?

The Form 4 shows one gift transaction involving 11,702 SLM common shares. Transaction summary data confirms one gift event, with total gifted shares of 11,702 and no reported open-market buys, sells, or derivative exercises in this filing.