HEWES JOHN J 4
4 · SLM CORP · Filed Feb 2, 2009
Insider Transaction Report
Form 4
SLM CORPSLM
HEWES JOHN J
Senior EVP & CLO
Transactions
- Purchase
Common Stock
2009-01-30$11.40/sh+15,000$170,930→ 45,000 total - Award
Common Stock
2009-01-29+20,000→ 30,000 total - Award
Stock Option (Right to Buy)
2009-01-29+300,000→ 300,000 totalExercise: $11.21Exp: 2019-01-29→ Common Stock (300,000 underlying)
Footnotes (4)
- [F1]These shares of Restricted Stock vest upon the later of the achievement of specific performance targets and a specified date.
- [F2]Upon request by the Commission staff or a security holder of the issuer, full information regarding the number of shares purchased at each separate price will be provided.
- [F3]Represents the weighted average price per share of stock purchased by Mr. Hewes between $11.38 and $11.42.
- [F4]One-third of these options vest upon the later of the first anniversary of the grant date (January 29, 2010) and the extent to which core earnings net income is achieved. One-third of these options vest upon the later of the second anniversary of the grant date (January 29, 2011) and the extent to which core earnings net income is achieved. One-third of these options vest upon the later of the third anniversary of the grant date (January 29, 2012) and the extent to which core earnings net income is achieved. To the extent of vesting of each one-third of the options, any remaining unvested options of the one-third eligible for vesting in that year will be forfeited and cancelled.