Form 4: SLM Corp Director Receives Restricted Stock

Kirsten O. Wolberg, a Director at SLM Corp, received restricted common stock as part of her annual retainer.

Summary

• Kirsten O. Wolberg, a Director at SLM Corp (SLM), acquired 7,349 shares of Restricted Common Stock on June 16, 2026.
• This acquisition was made as partial payment for her annual retainer as an independent director, under the SLM Corporation 2021 Omnibus Incentive Plan - 2026 Independent Director Restricted Stock Agreement.
• The Restricted Common Stock is subject to vesting conditions outlined in the agreement.
• Following this transaction, Wolberg beneficially owns 81,690.388 shares of common stock.
• This total includes shares acquired through a dividend reinvestment plan and Dividend Equivalent Units.

Sentiment

Score: 5

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

Positives

• Director compensation is being paid, in part, through equity awards, aligning director interests with shareholders.
• The company has a formal incentive plan in place for independent directors.

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 specific vesting schedule or conditions.

Future Outlook

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

Industry Context

StockSavvy.ai notes that the use of restricted stock for director compensation is a common practice in the financial services industry, aimed at retaining talent and aligning executive interests with long-term shareholder value.

Stakeholder Impact

• Shareholders: The issuance of restricted stock to directors aligns their interests with long-term shareholder value, provided vesting conditions are met and the stock performs well.

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, Director Compensation, Restricted Stock, Equity Award, Insider Transaction, Securities Exchange Act