Manvitz Ted 4

What Happened

• Ted Manvitz, a director of SLM Corporation (SLM), was granted 1,242 shares of common stock on 2026-03-18. The Form 4 reports the acquisition price as $0.00 because the shares were issued as a compensation award (code A). Per the filing footnote, the per-share value equals the closing sales price on the grant date (not stated in the excerpt).

Key Details

• Transaction date: 2026-03-18; Filing date: 2026-03-19 (timely filing).
• Shares granted: 1,242; Reported acquisition price: $0.00 (award/grant).
• Footnote F1: Shares issued in lieu of quarterly cash retainer and committee fees; per-share value set to closing price on grant date.
• Footnotes F2–F3: Filing references dividend equivalent units related to restricted stock and participation in a dividend reinvestment plan.
• Shares owned after the transaction: not provided in the supplied filing excerpt.
• Transaction type: Award/grant (not an open-market purchase or sale).

Context

• This is a routine director compensation grant (common for board members receiving stock instead of cash). Such awards reflect compensation policy rather than an insider purchase signal. Dividend equivalents and DRIP participation noted in the filing can increment holdings over time but do not indicate a market-timing trade.