Sallie Mae (Nasdaq: SLM) elevates Peter Graham and Kerri Palmer to Co-Presidents
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
SLM Corporation, commonly known as Sallie Mae, announced senior leadership changes. The Board appointed current executives Peter M. Graham and Kerri A. Palmer as Co-Presidents of the company, effective immediately. Graham will serve as Co-President and Chief Financial Officer, and Palmer as Co-President and Head of Financial Services.
Both leaders already oversee major areas of the business and will now partner, reporting to CEO Jon Witter, to align and execute the company’s strategy. The company states there are no special arrangements underlying their appointments, no new material compensation plans, and no related-party transactions or family relationships requiring disclosure.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Terms
Co-Presidents, Executive Vice President, Chief Operational Officer, Head of Financial Services, +1 more
5 terms
Co-Presidents financial
"appointed Peter M. Graham ... and Kerri A. Palmer ... as Co-Presidents of the Company"
Executive Vice President financial
"the Company’s current Executive Vice President and Chief Financial Officer"
An executive vice president is a high-ranking leader within a company who oversees major parts of its operations or strategies. Think of them as senior managers responsible for important areas, similar to a vice principal in a school hierarchy. Their role matters to investors because they help guide the company's success and decision-making at the top level.
Chief Operational Officer financial
"the Company’s current Executive Vice President and Chief Operational Officer"
Head of Financial Services financial
"Co-President and Head of Financial Services"
Item 404(a) of Regulation S-K regulatory
"no direct or indirect material interests in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): April 22, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices) | (Zip Code) | |||||||||||||
Registrant's telephone number, including area code: (302 ) 451-0200
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
OFFICER APPOINTMENTS
On April 22, 2026, the Board of Directors (the “Board”) of SLM Corporation (the “Company”) appointed Peter M. Graham, the Company’s current Executive Vice President and Chief Financial Officer, and Kerri A. Palmer, the Company’s current Executive Vice President and Chief Operational Officer, as Co-Presidents of the Company, effective immediately. In connection with such appointments, their Company titles will be as follows:
•Peter M. Graham – Co-President and Chief Financial Officer
•Kerri A. Palmer – Co-President and Head of Financial Services
Biographical and compensation information regarding Mr. Graham and Ms. Palmer is set forth in the Company’s Definitive Proxy Statement on Schedule 14A, which was filed with the Securities and Exchange Commission (“SEC”) on April 27, 2026, and is incorporated by reference herein.
There are no arrangements or understandings between the Company and either Mr. Graham or Ms. Palmer pursuant to which either was appointed Co-President, nor are there any changes to or additional material plans, contracts, or arrangements with either Mr. Graham or Ms. Palmer in connection with such appointments. Neither Mr. Graham nor Ms. Palmer has any family relationships with any current director, executive officer, or person nominated to become a director or executive officer, of the Company. In addition, Mr. Graham and Ms. Palmer have no direct or indirect material interests in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
On April 27, 2026, the Company issued a press release announcing the Board’s appointments of Mr. Graham and Ms. Palmer as Co-Presidents of the Company. A copy of the press release is being furnished herewith as Exhibit 99.1.
The press release attached hereto as Exhibit 99.1 and incorporated by reference herein, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Furthermore, Exhibit 99.1 shall not be deemed incorporated by reference into any of the Company’s registration statements, reports, or other filings with the SEC, except as expressly set forth by specific reference in such registration statement, report, or other filing.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) EXHIBITS
Exhibit Number | Description | |||||||
| 99.1* | Press Release, dated April 27, 2026 | |||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) | |||||||
| * | Furnished herewith. | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SLM CORPORATION | ||||||||
| Date: April 27, 2026 | By: | /s/ Nicolas Jafarieh | ||||||
| Nicolas Jafarieh | ||||||||
| Executive Vice President and Chief Legal, Government Affairs, and Communications Officer | ||||||||
Exhibit 99.1
 | ||
| News Release | ||
| For Immediate Release | ||
SALLIE MAE ANNOUNCES SENIOR LEADERSHIP APPOINTMENTS
Chief Financial Officer Peter Graham and Chief Operational Officer Kerri Palmer
Named Co-Presidents of the Company
NEWARK, Del., April 27, 2026 — Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, today announced it has named Chief Financial Officer Peter Graham and Chief Operational Officer Kerri Palmer Co-Presidents of the company. Reporting to Chief Executive Officer Jon Witter, Graham and Palmer will partner to ensure alignment and execution of the company’s strategy. Graham and Palmer collectively oversee the company’s commercial businesses within their respective areas of responsibility, following the recent retirement of the company’s Chief Commercial Officer.
Graham has served as Executive Vice President and Chief Financial Officer since 2023 overseeing finance, accounting, and treasury activities, as well as equity and fixed-income investor relations. As Co-President and Chief Financial Officer, Graham will also oversee strategic partnerships and emerging lines of business.
Palmer has served as Executive Vice President, Chief Operational Officer, and President of Sallie Mae Bank since 2023. She previously served as Chief Risk Officer and Chief Risk and Compliance Officer for the company. As Co-President and Head of Financial Services, Palmer will lead the company’s core private education loan business as well as credit and operations.
“Pete and Kerri are exceptional leaders with deep experience who are helping drive our strong performance and disciplined growth strategy,” said Jon Witter, Chief Executive Officer, Sallie Mae. “As CEO, I remain fully focused on leading the company, and these appointments will further strengthen our ability to execute our strategy with depth and continuity as we deliver for our customers and shareholders.”
The appointments of Graham and Palmer as Co-Presidents reflect the company’s continued commitment to providing growth opportunities for its leaders to support the organization’s long-term success.
For more information visit www.salliemae.com.
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Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
***
Contacts:
Media
Media, media@salliemae.com
Investors
Investor Relations, IR@salliemae.com
FAQ
What leadership change did SLM (Sallie Mae) announce in this 8-K?
SLM Corporation appointed Peter M. Graham and Kerri A. Palmer as Co-Presidents. Graham remains Chief Financial Officer, while Palmer becomes Co-President and Head of Financial Services, both reporting to CEO Jon Witter and helping execute the company’s strategy following the prior Chief Commercial Officer’s retirement.
What roles will Peter Graham hold at SLM (Sallie Mae)?
Peter Graham will serve as Co-President and Chief Financial Officer of SLM Corporation. He continues overseeing finance, accounting, treasury, and investor relations, and also takes responsibility for strategic partnerships and emerging lines of business as part of his expanded leadership role at the company.
What responsibilities will Kerri Palmer have at SLM (Sallie Mae)?
Kerri Palmer will serve as Co-President and Head of Financial Services. She will lead the company’s core private education loan business, as well as credit and operations, building on her prior roles as Chief Operational Officer, President of Sallie Mae Bank, and former Chief Risk Officer.
Does the SLM 8-K disclose new compensation or special arrangements for the Co-Presidents?
The filing states there are no arrangements or understandings under which Peter Graham or Kerri Palmer were appointed Co-Presidents. It also notes there are no changes to or additional material plans, contracts, or arrangements with them in connection with these appointments, according to the disclosure language.
How does the new Co-President structure fit within SLM’s leadership?
Graham and Palmer will serve as Co-Presidents reporting to CEO Jon Witter. The company explains they will partner to ensure alignment and execution of strategy, and that the appointments reflect a commitment to growth opportunities for leaders supporting SLM’s long-term organizational success and continuity.