Quinlan Raymond J. 4
4 · SLM Corp · Filed Feb 28, 2019
Insider Transaction Report
Form 4
SLM CorpSLM
Quinlan Raymond J.
DirectorVice Chairman
Transactions
- Award
Common Stock
2019-02-26+170,167→ 1,429,744 total - Tax Payment
Common Stock
2019-02-26$11.15/sh−78,186$871,774→ 1,351,558 total - Tax Payment
Common Stock
2019-02-26$11.15/sh−69,498$774,903→ 1,282,060 total - Tax Payment
Common Stock
2019-02-26$11.15/sh−17,025$189,829→ 1,265,035 total
Footnotes (4)
- [F1]Shares reported in this column represent shares awarded in connection with the vesting of performance stock unit awards ("PSUs"). Such PSUs were subject to vesting based on SLM Corporation's (the "Company") cumulative charge-offs of its private education loans from 2016-2018 that first entered full principal and interest repayment status in the fourth quarter of 2015. On February 26, 2019, the Nominations, Governance, and Compensation Committee certified that the Company achieved the cumulative charge-offs performance goal of 3.90%. Accordingly, the number of PSUs that vested on February 26, 2019 were at 150% of target.
- [F2]Represents shares of the Company common stock required to be withheld to satisfy the reporting person's tax withholding obligations.
- [F3]On February 26, 2016, the reporting person was granted restricted stock units ("RSUs") representing rights to receive shares of common stock of the Company, subject to vesting conditions, to vest in one-third increments on February 26, 2017, 2018 and 2019. On February 26, 2019, 151,260 shares vested in connection with these RSUs, of which 69,498 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
- [F4]On February 26, 2016, the reporting person was granted RSUs representing rights to receive shares of common stock of the Company, subject to transfer restrictions that lapse in one-third increments on February 26, 2017, 2018 and 2019. On February 26, 2019, the transfer restrictions lapsed in connection with 37,063 of these RSUs, of which 17,025 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.