SLM Director Mark L. Lavelle Receives 1,038-Share Award

What Happened

• Mark L. Lavelle, a director of SLM Corporation (SLM), received an award of 1,038 shares on 2026-09-16. The Form 4 reports the acquisition as code "A" (award/grant) and shows $0.00 per share on the form, but a footnote explains the shares were issued in lieu of his quarterly cash retainer and committee fees and their per-share value equals the closing market price on the grant date.

Key Details

• Transaction date: 2026-09-16 (reported on Form 4 filed 2026-09-18)
• Transaction type/code: Award/Grant (A)
• Shares acquired: 1,038 shares (Form 4 lists $0.00 per share; actual per-share value = closing price on grant date per footnote)
• Shares owned after transaction: Not specified in the information provided in this summary
• Footnotes: F1 — shares issued in lieu of cash retainer/fees; F2 — includes Dividend Equivalent Units related to restricted common stock holdings
• Filing timeliness: Filed within the typical Form 4 window (timely), no late filing indicated

Context

• This was a compensation award (shares issued instead of cash), which is common for directors and generally considered routine rather than a directional market signal. Dividend Equivalent Units noted in the filing relate to additional compensation tied to restricted stock holdings, not a separate market trade.