SLM.NASDAQSlm CORP

Form 4: SLM Corp Executive Nicolas Jafarieh Reports Stock Transactions Following RSU Vesting

Sentiment:

SEC Form 4 Filing

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EVP Nicolas Jafarieh reports disposition of SLM Corp shares to cover tax obligations after restricted stock units vested.

Summary

  • On February 16, 2025, Nicolas Jafarieh, an EVP at SLM Corp, had 8,009 restricted stock units (RSUs) vest, and 2,743 shares were withheld to cover tax obligations at a price of $31.43 per share.
  • On February 17, 2025, Jafarieh had 12,118 RSUs vest, with 3,903 shares withheld for tax obligations at a price of $31.43 per share.
  • Following these transactions, Jafarieh directly owns 177,271.6058 shares of SLM Corp common stock, which includes dividend equivalent units.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions related to executive compensation; it doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock; this provides transparency to the market.

Comparison to Industry Standards

  • Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive interests with long-term shareholder value.
  • The practice of withholding shares to cover tax obligations upon vesting is a common practice among publicly traded companies.
  • Comparable companies such as Navient Corporation and Nelnet also utilize equity-based compensation for their executives.

Stakeholder Impact

  • The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
  • Employees may be indirectly affected as these transactions relate to executive compensation and company performance.

Key Dates

DateDescription
February 17, 2023Reporting person was granted RSUs representing rights to receive shares of Common Stock of the Company, subject to vesting conditions, to vest in one-third increments on February 17, 2024, 2025, and 2026.
February 16, 2024Reporting person was granted restricted stock units ('RSUs') representing rights to receive shares of Common Stock of SLM Corporation (the 'Company'), subject to vesting conditions, to vest in one-third increments on February 16, 2025, 2026, and 2027.
February 16, 20258,009 shares vested in connection with RSUs granted on February 16, 2024, of which 2,743 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
February 17, 202512,118 shares vested in connection with RSUs granted on February 17, 2023, of which 3,903 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.
February 19, 2025Date of signature for the Form 4 filing.

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