Form 4: SLM Corp: Director Matheson Acquires Restricted Stock

James D. Matheson, a Director at SLM Corp, acquired 7,349 shares of Restricted Common Stock as partial payment for his annual retainer.

Summary

• Director James D. Matheson acquired 7,349 shares of SLM Corp common stock on June 16, 2026.
• These shares were received as Restricted Common Stock under the SLM Corporation 2021 Omnibus Incentive Plan - 2026 Independent Director Restricted Stock Agreement.
• The award serves as partial payment for the annual retainer to independent directors and is subject to vesting.
• Following this transaction, Matheson beneficially owns 111,836.589 shares of common stock.
• The total includes shares acquired under a dividend reinvestment plan and Dividend Equivalent Units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a routine compensation event for a director rather than a significant strategic or financial development.

Positives

• Director compensation is being paid, in part, through equity awards, aligning director interests with shareholders.
• The company has a plan in place for director compensation that includes restricted stock awards.

Risks

• The Restricted Common Stock award is subject to vesting, meaning the director may not retain the shares if certain conditions are not met.
• The filing does not provide details on the vesting schedule or conditions.

Future Outlook

The filing does not contain any forward-looking statements or guidance.

Industry Context

StockSavvy.ai notes that the issuance of restricted stock to directors is a common practice in the financial services industry to align executive and director compensation with long-term shareholder value.

Stakeholder Impact

• Shareholders: The issuance of stock to directors as compensation can dilute existing shareholder equity, but it also aligns director incentives with shareholder interests.
• Employees: This filing does not directly impact employees.
• Creditors: This filing does not directly impact creditors.

Next Steps

• The Restricted Common Stock award is subject to vesting according to the terms of the 2026 Agreement.

Key Dates

Keywords

SLM Corp, Form 4, Insider Trading, Restricted Stock, Director Compensation, Equity Award, Securities Exchange Act