SLM Corp (SLM) director awarded 7,349 restricted shares as part of annual retainer
Rhea-AI Filing Summary
Franke Mary Carter Warren reported acquisition or exercise transactions in this Form 4 filing.
SLM Corp director Mary Carter Warren Franke reported an equity compensation grant rather than an open-market trade. She received 7,349 shares of Restricted Common Stock at $0.00 per share under SLM Corporation’s 2021 Omnibus Incentive Plan as partial payment of her independent director annual retainer. These restricted shares vest according to the separate 2026 Independent Director Restricted Stock Agreement. After this award, she directly holds 104,998.126 shares of common stock, which include Dividend Equivalent Units issued on previously granted restricted stock. A separate table entry shows 7,000 shares held indirectly through her spouse’s IRA, reported as an ownership position rather than a new transaction.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 7,349 shares
Net Buy
2 txns
Insider
Franke Mary Carter Warren
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 7,349 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 104,998.126 shares (Direct);
Common Stock — 7,000 shares (Indirect, By Spouse's IRA)
Footnotes (2)
- 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.
- F2. Includes Dividend Equivalent Units issued in connection with Restricted Common Stock held by the reporting person.
Key Figures
Restricted stock grant: 7,349 shares
Grant price: $0.00 per share
Direct holdings after grant: 104,998.126 shares
+2 more
5 metrics
Restricted stock grant
7,349 shares
Restricted Common Stock award to director as partial annual retainer
Grant price
$0.00 per share
Price for 7,349 Restricted Common Stock shares granted as compensation
Direct holdings after grant
104,998.126 shares
Director’s direct SLM common stock position including Dividend Equivalent Units
Indirect holdings
7,000 shares
Common stock held indirectly through spouse’s IRA
Award plan year
2021
Shares issued under SLM Corporation 2021 Omnibus Incentive Plan
Key Terms
Restricted Common Stock, 2021 Omnibus Incentive Plan, 2026 Independent Director Restricted Stock Agreement, Dividend Equivalent Units, +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.
2021 Omnibus Incentive Plan financial
"issued pursuant to the terms of the SLM Corporation 2021 Omnibus Incentive Plan - 2026 Independent Director Restricted Stock Agreement"
2026 Independent Director Restricted Stock Agreement financial
"the SLM Corporation 2021 Omnibus Incentive Plan - 2026 Independent Director Restricted Stock Agreement (the "2026 Agreement")"
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.
annual retainer financial
"in partial payment of the annual retainer to independent directors."
FAQ
What insider transaction did SLM (SLM) report for director Mary Carter Warren Franke?
SLM reported that director Mary Carter Warren Franke received 7,349 shares of Restricted Common Stock as an equity award. The shares were granted at $0.00 per share as partial payment of her independent director annual retainer, rather than through an open-market purchase.
How are Dividend Equivalent Units reflected in the SLM director’s holdings?
The director’s direct holding of 104,998.126 shares includes Dividend Equivalent Units. These units were issued in connection with Restricted Common Stock previously held by the director, effectively increasing her recorded share balance as dividends were credited on outstanding restricted awards.
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