Manvitz Ted 4

What Happened
Ted Manvitz, a director of SLM Corporation (SLM), was awarded a total of 8,411 shares of Restricted Common Stock as director compensation across two grants: 7,349 shares on 2026-06-16 and 1,062 shares on 2026-06-17. The reported acquisition price for both grants is $0.00 (awarded stock), so no cash was paid by the reporting person. These awards are issued as part of SLM’s director compensation and are subject to vesting under the applicable 2026 Independent Director Restricted Stock Agreement.

Key Details

• Transaction dates and amounts: 2026-06-16 — 7,349 shares (award); 2026-06-17 — 1,062 shares (award). Reported price: $0.00 per share (awards). Total shares awarded: 8,411.
• Shares owned after transaction: Not specified in the provided filing summary.
• Notable footnotes from the filing:
  • F1: Shares issued under the 2021 Omnibus Incentive Plan and 2026 Independent Director Restricted Stock Agreement; awards vest per that agreement.
  • F2: Dividend Equivalent Units were included in connection with restricted shares held.
  • F3: Some reported shares include those acquired under the company’s dividend reinvestment plan.
  • F4: Awards represent shares received in lieu of the director’s quarterly cash retainer and committee fees; per-share value for those grants was equal to the closing price on the grant date.
• Filing timeliness: Form 4 was filed on 2026-06-18 for transactions on 2026-06-16 and 2026-06-17. This appears to be a timely filing under standard Form 4 reporting rules.

Context: These transactions are awards of restricted stock as compensation rather than open-market purchases or sales. Awards are routine for non-employee directors and are subject to vesting and other plan terms, so they do not necessarily signal immediate bullish or bearish insider sentiment.