Pahwa Munish 4
4 · SLM Corp · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
SLM EVP Munish Pahwa Sells Shares to Cover Taxes
What Happened
Munish Pahwa, Executive Vice President & Chief Risk Officer at SLM Corporation, had a total of 7,436 shares disposed (withheld) to satisfy tax withholding when RSUs vested. The withholding transactions took place on Feb 16–17, 2026 and consisted of: 2,167 shares at $24.04 (≈ $52,095), 3,220 shares at $23.90 (≈ $76,958), and 2,049 shares at $23.90 (≈ $48,971), for aggregate proceeds of about $178,024. This was a routine tax-withholding disposal tied to RSU vesting rather than an open-market sell initiated by the insider.
Key Details
- Transaction dates and prices:
- 2026-02-16: 2,167 shares withheld at $24.04 — $52,095 (F)
- 2026-02-17: 3,220 shares withheld at $23.90 — $76,958 (F)
- 2026-02-17: 2,049 shares withheld at $23.90 — $48,971 (F)
- Total shares withheld/disposed: 7,436; total value ≈ $178,024.
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Notable footnotes:
- F1/F3/F4: These were withholdings tied to RSU vesting (grants from Feb 16, 2024 and Feb 17, 2023) where portions of vested RSUs were withheld to satisfy tax obligations.
- F2: Dividend Equivalent Units are included in the RSU holdings.
- Filing timing: Report filed 2026-02-18 for vesting on 2026-02-16/17. No indication in the provided data that the filing was late.
Context
These disposals were tax-withholding actions connected to vested restricted stock units (RSUs). That is a routine administrative event and does not necessarily indicate the insider’s view of the company’s prospects. For retail investors, purchases or open-market sales by insiders usually carry more interpretive weight than withholding dispositions.
Insider Transaction Report
- Tax Payment
Common Stock
[F1][F2]2026-02-16$24.04/sh−2,167$52,095→ 69,270.242 total - Tax Payment
Common Stock
[F3][F2]2026-02-17$23.90/sh−3,220$76,958→ 66,050.242 total - Tax Payment
Common Stock
[F4][F2]2026-02-17$23.90/sh−2,049$48,971→ 64,001.242 total
Footnotes (4)
- [F1]On February 16, 2024, the reporting person was granted restricted stock units ("RSUs") representing rights to receive shares of Common Stock of SLM Corporation (the "Company"), subject to vesting conditions, to vest in one-third increments on February 16, 2025, 2026, and 2027. On February 16, 2026, 6,072 shares vested in connection with these RSUs, of which 2,167 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
- [F2]Includes Dividend Equivalent Units in connection with RSUs held by the reporting person.
- [F3]On February 17, 2023, the reporting person was granted RSUs representing rights to receive shares of Common Stock of the Company, subject to vesting conditions, to vest in one-third increments on February 17, 2024, 2025, and 2026. On February 17, 2026, 10,404 shares vested in connection with these RSUs, of which 3,220 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
- [F4]On February 17, 2023, the reporting person was granted RSUs representing rights to receive shares of Common Stock of the Company, subject to vesting conditions, to vest in one-third increments on February 17, 2024, 2025, and 2026. On February 17, 2026, 6,618 shares vested in connection with these RSUs, of which 2,049 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.