Form 4: SLM Corp Director Ted Manvitz Reports Changes in Beneficial Ownership

Director Ted Manvitz reports acquisition of SLM Corp common stock through restricted stock and shares in lieu of cash retainer.

Summary

• On June 18, 2024, Ted Manvitz, a director of SLM Corp, acquired 7,069 shares of common stock as restricted stock.
• These shares were issued under the SLM Corporation 2021 Omnibus Incentive Plan 2024 Independent Director Restricted Stock Agreement as partial payment of the annual retainer.
• The restricted common stock is subject to vesting terms outlined in the 2024 Agreement.
• On June 20, 2024, Manvitz acquired an additional 1,179 shares of SLM Corporation's Common Stock in lieu of his quarterly cash retainer and committee fees.
• The per share value was equal to the closing sales price per share as of the grant date.
• Following these transactions, Manvitz beneficially owns 43,999.4683 shares of SLM Corp common stock, including dividend equivalent units.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports routine transactions. The director's increased stake could be seen as mildly positive.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their transactions in the company's stock.

Stakeholder Impact

• The transactions may have a minor positive impact on shareholder sentiment due to the director's increased investment in the company.

Key Dates