4/A//SEC Filing
DEPAULO JOSEPH A 4/A
Accession 0001127602-13-003109
CIK 0001032033other
Filed
Jan 28, 7:00 PM ET
Accepted
Jan 29, 7:57 PM ET
Size
9.5 KB
Accession
0001127602-13-003109
Insider Transaction Report
Form 4/AAmended
SLM CORPSLM
DEPAULO JOSEPH A
Executive Vice President
Transactions
- Tax Payment
Common Stock
2012-01-28$15.13/sh−2,480$37,522→ 110,197 total - Tax Payment
Common Stock
2012-01-27$15.13/sh−9,234$139,710→ 112,677 total
Holdings
- 1,740(indirect: By Children)
Common Stock
Footnotes (4)
- [F1]As previously reported, Joseph A. DePaulo was granted (i) on January 27, 2011 50,000 restricted stock units (the "2011 RSUs") and 19,083 bonus RSUs (the "2011 Bonus RSUs") and (ii) on February 3, 2012, 37,523 bonus RSUs (the "2012 Bonus RSU" and together with the 2011 Bonus RSUs, the "Bonus RSUs"), which grants were approved by the Compensation and Personnel Committee (the "Compensation Committee") of the Board of Directors of SLM Corporation (the "Company"). The 2011 RSUs and the Bonus RSUs represent the right to receive shares of the Company's common stock in the future. One-third of the 2011 RSUs vest on first, second and third anniversaries of the grant date. The Bonus RSUs are vested upon grant but transfer restrictions on one-third of these Bonus RSUs lapse on the first, second and third anniversaries of the grant date. On January 27, 2012, 16,667 2011 RSUs vested and transfer restrictions on 6,361 Bonus RSUs lapsed and 487 additional shares were issued to Mr. DePaulo upon the vesting of the related dividend equivalent rights. This amendment is being filed to reflect the correct number of shares required to be withheld by the Company (as approved by the Compensation Committee) to satisfy Mr. DePaulo's tax withholding obligations. The correct number of shares withheld upon the vesting of the 2011 RSUs (and issuance of dividend equivalent rights) and upon the grant of the Bonus RSUs is 9,234 shares.
- [F2]Awards granted to Mr. DePaulo on January 27, 2011, were originally reported as Restricted Stock Units. As permitted, we have reclassified them as "Common Stock" because these RSU awards will be settled solely by delivery of shares in the Company's common stock.
- [F3]Dividend equivalent rights issued on unvested restricted stock and RSUs are included in Mr. DePaulo's common stock holding balance.
- [F4]As previously reported, on January 28, 2010, Mr. DePaulo was granted 20,000 restricted shares of the Company's common stock, which grant was approved by the Compensation Committee. One-third of these restricted shares vest on first, second and third anniversaries of the grant date. On January 28, 2012, 6,666 shares of such restricted stock vested and 140 additional shares were issued to Mr. DePaulo upon the vesting of the related dividend equivalent rights, of which 2,480 shares were withheld by the Company (as approved by the Compensation Committee) to satisfy Mr. DePaulo's tax withholding obligations.
Documents
Issuer
SLM CORP
CIK 0001032033
Entity typeother
Related Parties
1- filerCIK 0001459757
Filing Metadata
- Form type
- 4/A
- Filed
- Jan 28, 7:00 PM ET
- Accepted
- Jan 29, 7:57 PM ET
- Size
- 9.5 KB