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SLM Corporation director James D. Matheson reported acquiring 5,281 shares of restricted common stock on June 17, 2025 as part of the director compensation package. The shares were granted at $0 cost under the SLM Corporation 2021 Omnibus Incentive Plan - 2025 Independent Director Restricted Stock Agreement.

Following the transaction, Matheson's total beneficial ownership stands at 103,444.37 shares, held directly. This position includes:

• Dividend Equivalent Units from existing restricted stock holdings
• Shares acquired through dividend reinvestment plan

The restricted stock grant is subject to vesting conditions outlined in the 2025 Agreement and represents partial payment of the annual retainer for independent directors. The Form 4 was filed by power of attorney through Jeffrey Lipschutz on June 20, 2025.

SLM Corporation (ticker: SLM) 鈥� Form 4 filing dated 20 June 2025

Independent director Ted Manvitz reported two equity awards that increased his direct ownership of SLM common stock by a combined 6,049 shares. On 17 June 2025 he received 5,281 restricted shares under the 2025 Independent Director Restricted Stock Agreement as part of the annual board retainer. On 18 June 2025 he accepted an additional 768 shares in lieu of his quarterly cash retainer and committee fees. Both grants were priced at $0 because they represent non-cash compensation. Following the transactions, Manvitz holds 63,720.6801 shares directly, including dividend-equivalent units and shares acquired through SLM鈥檚 dividend reinvestment plan. No derivative securities were reported and no open-market purchases or sales occurred.

The filing reflects routine director compensation rather than discretionary insider buying or selling, and the share count involved is immaterial relative to SLM鈥檚 total shares outstanding. Accordingly, the Form 4 is unlikely to have a material impact on the company鈥檚 valuation or trading dynamics.

SLM Corporation (ticker: SLM) filed a Form 4 detailing an insider equity grant. On 06/17/2025 independent director Christopher T. Leech received 5,281 shares of restricted common stock at a stated price of $0 under the 2025 Independent Director Restricted Stock Agreement, part of the company鈥檚 2021 Omnibus Incentive Plan. The award represents a portion of the annual cash retainer paid to outside directors and will vest according to the plan鈥檚 terms. No shares were sold and no derivatives were involved. After the transaction, Leech鈥檚 direct beneficial ownership rose to 12,480.9277 shares, a figure that includes dividend-equivalent units. The filing was signed on 06/20/2025 and does not reference a Rule 10b5-1 trading plan, suggesting a routine, compensation-related grant rather than an open-market purchase or sale.

SLM Corporation (ticker: SLM) 鈥� Form 4 insider filing

Independent director Mark L. Lavelle reported two equity grants under the company鈥檚 2021 Omnibus Incentive Plan. On 17 Jun 2025 he received 5,281 restricted shares as partial payment of his annual board retainer. On 18 Jun 2025 he received an additional 828 shares in lieu of his quarterly cash retainer and committee fees. Both transactions were coded 鈥淎鈥� (acquisition) and carried a stated price of $0, confirming they were stock-for-services grants rather than open-market purchases.

Following the transactions, Lavelle鈥檚 direct beneficial ownership rose to 78,298.9277 common shares, which includes accumulated dividend equivalent units on prior restricted stock awards. The shares remain subject to the vesting conditions detailed in the 2025 Independent Director Restricted Stock Agreement.

No derivative securities were involved, and there were no dispositions. While the ownership change is modest relative to SLM鈥檚 public float, continued equity accumulation by a board member can be viewed as alignment of director incentives with shareholder interests.

SLM Corporation (ticker: SLM) 鈥� Form 4 insider filing dated 20-Jun-2025

Independent director Daniel Greenstein reported a single transaction on 17-Jun-2025 involving 5,281 shares of SLM common stock. The shares were awarded at a stated price of $0 under the company鈥檚 2021 Omnibus Incentive Plan pursuant to the 2025 Independent Director Restricted Stock Agreement. The award represents partial payment of the director鈥檚 annual cash retainer and is subject to the vesting conditions outlined in that agreement.

Following the grant, Greenstein鈥檚 beneficial ownership stands at 5,281 directly held shares. No open-market purchases, sales, derivative transactions, or changes in indirect ownership were disclosed, and no 10b5-1 trading plan box was checked.

Investment takeaways

• The filing reflects routine equity compensation rather than an opportunistic buy, so it offers a limited read-through on the director鈥檚 valuation view.
• Nonetheless, additional equity ties director interests more closely to shareholders, marginally improving governance alignment.
• The small size relative to SLM鈥檚 ~510 m shares outstanding suggests immaterial market impact.

Form 4 overview: Independent director Mary Carter Warren Franke reported receiving 5,281 shares of SLM Corp. restricted common stock on 06/17/2025 under the company鈥檚 2021 Omnibus Incentive Plan. The award, valued at $0 exercise price, represents a portion of the annual director retainer and is subject to vesting conditions outlined in the 2025 Independent Director Restricted Stock Agreement. Following the grant, the director鈥檚 direct beneficial ownership increased to 97,532.9277 shares; an additional 7,000 shares are held indirectly through the spouse鈥檚 IRA. The filing contains no derivative transactions, sales, or purchases for cash consideration, indicating this is a routine equity-based compensation grant rather than a market-driven trade.

Investor takeaway: The transaction modestly increases insider equity alignment but does not signal a change in sentiment or fundamentals for SLM (ticker: SLM). Given the small absolute share count versus SLM鈥檚 ~250 million shares outstanding, market impact is expected to be immaterial.