Form 4: SLM Corp Exec Gains 43,512 RSUs, Sells for Tax

SLM Corp's EVP, Chief Operational Officer, Kerri A. Palmer, received a grant of 43,512 restricted stock units and sold 3,596 shares for tax obligations.

Summary

• Kerri A. Palmer, EVP, Chief Operational Officer of SLM Corp, acquired 43,512 shares of Common Stock on March 2, 2026, through a long-term incentive award of restricted stock units (RSUs).
• These RSUs were granted under the SLM Corporation 2021 Omnibus Incentive Plan and will be settled solely by delivery of SLM Corporation Common Stock.
• The newly acquired RSUs vest in one-third increments on March 2, 2027, March 2, 2028, and March 2, 2029, subject to continuing employment.
• Palmer disposed of 3,596 shares of Common Stock on March 3, 2026, at a price of $19.19 per share.
• This disposition was to satisfy tax withholding obligations related to the vesting of 7,973 previously granted RSUs.
• The RSUs from which the 3,596 shares were withheld were granted on March 3, 2025, and vest in one-third increments on March 3, 2026, March 3, 2027, and March 3, 2028.
• Following these transactions, Palmer beneficially owns 169,037.295 shares of Common Stock, which includes Dividend Equivalent Units in connection with RSUs held.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive event. The significant RSU grant reinforces executive alignment with long-term company performance, while the share disposition is a routine tax-related transaction and not indicative of negative sentiment.

Positives

• The grant of 43,512 restricted stock units aligns executive compensation with shareholder interests, incentivizing long-term performance and retention.

Negatives

• A disposition of 3,596 shares occurred to cover tax withholding obligations, reducing the executive's direct shareholding.

Future Outlook

The filing indicates future vesting events for restricted stock units, with the newly granted 43,512 RSUs vesting in one-third increments on March 2, 2027, 2028, and 2029. Additionally, previously granted RSUs will continue to vest on March 3, 2027, and 2028.

Industry Context

StockSavvy.ai notes that the grant of restricted stock units to a key executive like the EVP, Chief Operational Officer, is a common practice in the financial services industry. This form of equity compensation is widely used to attract, retain, and motivate senior management by aligning their long-term interests with those of shareholders. The subsequent sale of shares for tax withholding is also a standard and expected event upon the vesting of such awards.

Stakeholder Impact

• Shareholders: The RSU grant aligns the interests of a key executive with long-term shareholder value creation, potentially leading to more focused strategic execution.
• Employees: The compensation structure for senior leadership can influence overall company morale and compensation strategies.

Next Steps

• Continued employment of Kerri A. Palmer to meet vesting conditions for the restricted stock units.
• Future vesting of 43,512 RSUs in one-third increments on March 2, 2027, 2028, and 2029.
• Future vesting of remaining portions of RSUs granted on March 3, 2025, on March 3, 2027, and 2028.

Key Dates

Keywords

SLM Corp, SLM, Form 4, Insider Transaction, Restricted Stock Units, RSU Grant, Executive Compensation, Stock Award, Tax Withholding