Jafarieh Nicolas 4

What Happened

• Nicolas Jafarieh, EVP — Legal, Government & Communications Officer at SLM Corp (SLM), received 58,880 shares of common stock on February 24, 2026 in connection with the vesting of performance stock units (PSUs). The award is reported at $0.00 per share (award/acquisition).
• On the same date, 27,792 shares were withheld (disposed) to satisfy tax withholding obligations at an implied price of $19.84 per share, totaling $551,393.

Key Details

• Transaction date: February 24, 2026; Form 4 filed February 26, 2026 (timely filing).
• Award: 58,880 shares granted/issued (coded A); reported value $0.00 per share as an award.
• Withholding: 27,792 shares withheld for taxes (coded F) at $19.84/share = $551,393.
• Shares owned after the transaction: not disclosed in the filing.
• Footnotes:
  • F1 — Shares issued for PSUs vested Feb 17, 2023; these shares remain subject to transfer restrictions and possible forfeiture for one year (until Feb 24, 2027).
  • F2 — Includes dividend equivalent units related to restricted stock units.
  • F3 — Withheld shares were used to satisfy the reporting person’s tax withholding obligation.
• Transaction type context: award/vesting (A) plus tax withholding (F); not an open-market purchase or sale for investment purposes.

Context

• This was a PSU vesting event (not a market buy or a discretionary sale). The withholding of shares to cover taxes is a routine administrative step (a cashless-withholding mechanism) and does not necessarily signal a view on the company’s stock.
• The vested shares remain subject to transfer restrictions for one year per the filing, which limits immediate disposition by the insider.