Schneck-Last Vivian C. 4

What Happened Vivian Schneck-Last, a director of SLM Corporation (SLM), was granted 7,349 shares of Restricted Common Stock on 2026-06-16. The award is reported as an acquisition (transaction code A) at $0.00 per share (total reported value $0) and was issued as partial payment of the annual retainer to independent directors. The restricted shares are subject to vesting under the terms of the 2026 Independent Director Restricted Stock Agreement.

Key Details

• Transaction date: 2026-06-16; Filing date (Form 4): 2026-06-18 (filed within the typical two-business-day window).
• Transaction type/code: Award/Grant (A).
• Shares granted: 7,349 Restricted Common Stock; reported acquisition price: $0.00 (award).
• Total reported value: $0 (reflects grant accounting on Form 4; not a cash purchase).
• Footnotes: F1—shares issued under SLM Corporation 2021 Omnibus Incentive Plan and subject to vesting per the 2026 Agreement; F2—amount includes Dividend Equivalent Units issued in connection with the restricted shares.
• Shares owned after transaction: not specified in the provided filing.

Context This was an equity award (compensation), not an open-market purchase or sale. Such grants are a routine way companies compensate independent directors and are subject to vesting and plan terms, so they do not, by themselves, indicate the insider's immediate market view.