Lavelle Mark L 4

What Happened

• Mark L. Lavelle, a director of SLM Corporation (SLM), was granted 7,349 shares of Restricted Common Stock on June 16, 2026. The shares were issued as an award (transaction code A) at $0.00 per share (aggregate $0) in partial payment of the annual retainer to independent directors. The award is subject to vesting under the 2026 Independent Director Restricted Stock Agreement.

Key Details

• Transaction date: 2026-06-16; Filing date: 2026-06-18.
• Shares granted: 7,349 restricted shares; reported acquisition price: $0.00 (aggregate $0).
• Shares owned after the transaction: not specified in the filing.
• Footnotes: (F1) Award issued under the SLM 2021 Omnibus Incentive Plan and subject to vesting per the 2026 Agreement. (F2) Includes Dividend Equivalent Units credited in connection with the restricted shares.
• Timeliness: Form 4 filed two days after the transaction date (appears timely under Form 4 rules).

Context

• This is a compensation award to a director (common practice) rather than an open‑market purchase or sale; awards are typically subject to vesting and do not necessarily signal immediate trading intent.
• Dividend Equivalent Units accrue dividends on restricted shares and are generally paid or settled when the underlying awards vest.