A Form 4 filed with the SEC on September 18, 2026 discloses that Mark L. Lavelle, a director of SLM Corp (NASDAQ:SLM), acquired 1,038 shares of common stock on September 16, 2026 at a price of $0 per share.

Key Highlights

  • Reporting person: Mark L. Lavelle, identified as a Director of SLM Corp
  • Transaction date: September 16, 2026, with the filing signed September 18, 2026
  • Shares acquired: 1,038 shares of SLM Corporation Common Stock at $0 per share via transaction code "A"
  • Purpose of grant: Shares received in lieu of the reporting person's quarterly cash retainer and respective committee fees, with per-share value equal to the closing sales price on the grant date
  • Beneficial ownership following transaction: 86,838.66 shares held directly, including Dividend Equivalent Units issued in connection with Restricted Common Stock held by the reporting person

Director Lavelle Receives Shares in Lieu of Cash Retainer at SLM Corp

According to the filing, Mark L. Lavelle, a director of SLM Corp, acquired 1,038 shares of SLM Corporation Common Stock on September 16, 2026. The transaction is coded "A" (acquired) and the price per share is listed as $0. The filing explains that these shares represent "a grant of shares of SLM Corporation's Common Stock received in lieu of the reporting person's quarterly cash retainer and respective committee fees," with the per-share value set equal to the closing sales price on the grant date.

Following the reported transaction, Lavelle's directly held beneficial ownership stands at 86,838.66 shares, according to the filing. The filing notes that this total "includes Dividend Equivalent Units issued in connection with Restricted Common Stock held by the reporting person." The shares are reported as directly owned.

The Form 4 was signed by Jeffrey Lipschutz as attorney-in-fact for Mark L. Lavelle on September 18, 2026. No derivative securities transactions were reported. The filing does not indicate that any Rule 10b5-1 plan was in effect for this transaction.

What Was Disclosed

SLM Corp director Mark L. Lavelle filed a Form 4 reporting the acquisition of 1,038 common shares on September 16, 2026, received in lieu of quarterly cash board and committee fees, bringing his total direct beneficial ownership to 86,838.66 shares.