Form 4: SLM Corp Executive Peter Graham Reports Changes in Beneficial Ownership After RSU Vesting
SEC Form 4
EVP, CFO & Treasurer of SLM Corp, Peter M. Graham, reports changes in beneficial ownership due to the vesting of restricted stock units (RSUs) and subsequent tax withholding.
Summary
- Peter M. Graham, EVP, CFO & Treasurer of SLM Corp, filed a Form 4 on November 1, 2024, reporting changes in beneficial ownership.
- The changes are related to the vesting of restricted stock units (RSUs) granted on October 30, 2023, which vest in one-third increments annually on October 30, 2024, 2025, and 2026.
- On October 30, 2024, 22,005 shares vested, and 6,625 shares were withheld by the company to cover tax obligations at a price of $22.56 per share.
- Following the transaction, Graham directly owns 92,118.6004 shares of SLM Corp common stock, including dividend equivalent units issued in connection with RSUs.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation. It doesn't contain information that would significantly impact investor sentiment.
Positives
- The vesting of RSUs indicates a continued alignment of the executive's interests with those of the shareholders.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The vesting of RSUs is a common form of executive compensation.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects the planned dilution from executive compensation.
Key Dates
| Date | Description |
|---|---|
| 10/30/2023 | Reporting person was granted restricted stock units (RSUs) representing rights to receive shares of Common Stock of SLM Corporation |
| 10/30/2024 | 22,005 shares vested in connection with RSUs, of which 6,625 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations. |
| 10/30/2024 | Date of transaction. |
| 10/30/2025 | Next vesting date for RSUs. |
| 10/30/2026 | Final vesting date for RSUs. |
| 11/01/2024 | Date of Form 4 filing. |
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