Leech Christopher T. 4

What Happened Christopher T. Leech, a director of SLM Corporation (SLM), was granted 7,349 shares of Restricted Common Stock on 2026-06-16. The reported acquisition price is $0.00 (transaction code A — award/grant), so the filing shows $0 total cash paid. The restricted shares were issued as partial payment of the annual retainer to independent directors and are subject to vesting per the applicable 2026 Independent Director Restricted Stock Agreement.

Key Details

• Transaction date: 2026-06-16 (Form 4 filed 2026-06-18).
• Transaction type/code: Award/Grant (A).
• Shares granted: 7,349 restricted shares; reported acquisition price $0.00 (total $0).
• Shares owned after the transaction: not specified in the summarized data (not disclosed here).
• Footnotes: F1 — award issued under the 2021 Omnibus Incentive Plan and 2026 Agreement; subject to vesting. F2 — includes Dividend Equivalent Units credited in connection with the restricted stock.
• Timeliness: Filing was submitted two days after the transaction date (appears timely under Form 4 rules).

Context This was a restricted stock award to compensate an independent director (common corporate practice) rather than an open-market purchase or sale. Because the shares are restricted and subject to vesting, they do not necessarily indicate immediate buying or selling intent by the director. The reported acquisition price of $0 reflects the award mechanics; the economic value will depend on SLM’s share price and the vesting schedule.