SLM Corp Director Christopher Leech Receives 914 Shares

What Happened Christopher T. Leech, a director of SLM Corporation (SLM), was granted 914 shares of common stock on 2026-09-16 as an award/acquisition reported on a Form 4 filed 2026-09-18. The Form 4 shows the acquisition price as $0.00 (reported for grant accounting), but a footnote clarifies the per-share value equals the closing sales price on the grant date (i.e., the grant was made in lieu of his quarterly cash retainer and committee fees).

Key Details

• Transaction date: 2026-09-16; Form 4 filed: 2026-09-18 (timely filing).
• Reported on Form 4 as 914 shares @ $0.00 (grant/award); actual economic value equals closing market price on grant date per footnote.
• Shares owned after the transaction: not specified in the provided filing.
• Footnotes: F1 — shares granted in lieu of cash retainer; per-share value equals closing price on grant date. F2 — filing also references Dividend Equivalent Units issued in connection with restricted common stock held by the reporting person.
• Filing appears routine (director compensation); no 10b5-1 plan, tax withholding, or late-filing flags noted in this disclosure.

Context This was a compensation grant to a director (not an open-market purchase or sale) and is generally a routine issuance tied to board pay. Such grants are common and do not by themselves indicate the insider’s market view; purchases tend to carry clearer signals of confidence.