Palmer Kerri A. 4

What Happened

• Kerri A. Palmer, EVP & Chief Operational Officer of SLM Corp (SLM), received 49,637 shares on 2026-02-24 in connection with the vesting of performance stock units (PSUs). The award was reported at $0 per share (grant/award).
• On the same date, 22,387 of those shares were withheld to satisfy tax withholding obligations at an effective price of $19.84 per share, a withholding value of $444,158 (reported as a disposition).
• Net of the withholding, Palmer received 27,250 shares (49,637 awarded minus 22,387 withheld). The awarded shares remain subject to transfer restrictions and potential forfeiture for one year, until 2027-02-24.

Key Details

• Transaction date: 2026-02-24; Form 4 filed 2026-02-26 (timely).
• Award: 49,637 shares (code A) at $0.00; Withholding: 22,387 shares disposed (code F) at $19.84, $444,158 total.
• Footnotes: Vesting of PSUs awarded Feb 17, 2023 (shares certified by the Compensation Committee); shares restricted/forfeitable until 2/24/2027 (F1). Includes dividend equivalent units on RSUs (F2). Withheld shares satisfied tax obligations (F3).
• Shares owned after the transaction are not specified in the provided summary — see the full Form 4 for total holdings.

Context

• This was not an open-market sale; the "disposition" was a tax-withholding action tied to PSU vesting (common practice when awards vest).
• For retail investors: awards and related withholding are routine compensation events and do not necessarily indicate a buying or selling signal by the insider.