Witter Jonathan W. 4

What Happened
Jonathan W. Witter, CEO and Director of SLM Corp (SLM), had 338,188 shares of common stock issued on February 24, 2026 in connection with the vesting of performance stock units (PSUs). To satisfy tax-withholding obligations, 169,433 of those shares were withheld (treated as disposed) at a reported per-share value of $19.84, totaling $3,361,551. Net shares delivered to Witter were 168,755 (338,188 awarded minus 169,433 withheld). These shares were reported as an award (code A) and a tax withholding disposition (code F).

Key Details

• Transaction date: February 24, 2026; Form 4 filed February 26, 2026 (filed within the typical Form 4 reporting window).
• Award: 338,188 shares granted (PSU vesting) at $0.00 reported acquisition value.
• Withholding: 169,433 shares withheld for taxes at $19.84 / share = $3,361,551 (reported as disposed).
• Net shares received: 168,755 shares delivered to the reporting person.
• Shares owned after transaction: not specified in the filing.
• Notable footnotes: (F1) PSU vesting certified by the Compensation Committee; awarded shares remain subject to transfer restrictions and potential forfeiture for one year (until Feb 24, 2027). (F2) Includes dividend equivalent units tied to RSUs. (F3) The withheld shares satisfy tax withholding on the PSU vesting.

Context
This was not an open-market sale or purchase but the vesting of PSUs with a routine tax-withholding share surrender. The withholding is a common administrative step and does not necessarily indicate a change in insider sentiment. The awarded shares remain restricted for one year per the filing.