Blackley Richard Scott 4
4 · SLM Corp · Filed Jun 18, 2026
Research Summary
AI-generated summary of this filing
SLM Director Richard Blackley Receives Restricted Stock Award
What Happened
Richard Scott Blackley, a director of SLM Corporation (SLM), was granted restricted common stock as director compensation: 7,349 shares on 2026-06-16 and 1,198 shares on 2026-06-17 (total 8,547 shares). The Form 4 lists a per-share acquisition price of $0.00 (awarded), and the filing records $0 total consideration; a footnote states one grant’s per-share value was equal to the closing sales price on the grant date. These were awards (not open-market purchases or sales) and are subject to vesting under the 2026 Independent Director Restricted Stock Agreement.
Key Details
- Transaction types/dates: Awards (code A) — 7,349 shares on 2026-06-16; 1,198 shares on 2026-06-17.
- Price reported: $0.00 per share on the Form 4 (award); one grant’s per-share value equals closing price on grant date per footnote.
- Total shares granted: 8,547. Form 4 reports $0 consideration because shares were granted, not purchased.
- Shares owned after transaction: Not specified in the filing.
- Notable footnotes:
- F1: Shares are Restricted Common Stock under the 2021 Omnibus Incentive Plan and vest per the 2026 Agreement.
- F2: Includes Dividend Equivalent Units issued with the restricted stock.
- F3: One grant was issued in lieu of quarterly cash retainer/committee fees; per-share value tied to market close on grant date.
- Filing timeliness: Report filed 2026-06-18 for transactions on 2026-06-16 and 06-17 — appears to be within required reporting window.
Context
Restricted stock awards to independent directors are routine compensation and generally reflect service pay rather than a direct signal about management’s near-term view of the stock. Dividend equivalent units mean the award tracks dividend value while restricted. This was an award (not a purchase or sale), so interpret it as compensation-related rather than an insider market-buy signal.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-06-16+7,349→ 40,421.126 total - Award
Common Stock
[F3][F2]2026-06-17+1,198→ 41,619.126 total
Footnotes (3)
- [F1]The reporting person received shares of Restricted Common Stock, issued pursuant to the terms of the SLM Corporation 2021 Omnibus Incentive Plan - 2026 Independent Director Restricted Stock Agreement (the "2026 Agreement") in partial payment of the annual retainer to independent directors. The Restricted Common Stock award is subject to vesting upon the terms set forth in the 2026 Agreement.
- [F2]Includes Dividend Equivalent Units issued in connection with Restricted Common Stock held by the reporting person.
- [F3]Represents a grant of shares of SLM Corporation's Common Stock (the "Shares") received in lieu of the reporting person's quarterly cash retainer and respective committee fees. The per share value of the Shares was equal to the closing sales price per share as of the grant date.