Pahwa Munish 4

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.