X0306 4 2015-02-10 0001032033 SLM CORP SLM 0001614710 Dale Jeffrey 300 CONTINENTAL DR NEWARK DE 19713 1 SVP & Chief Risk Officer Common Stock 2015-02-10 4 A 0 31746 9.45 A 55555 D Common Stock 2015-02-10 4 A 0 14814 9.45 A 70369 D Common Stock 2015-02-10 4 F 0 509 9.45 D 69860 D A long-term incentive award of restricted stock units ("RSUs") under the SLM Corporation 2012 Omnibus Incentive Plan, which is classified as "Common Stock," as permitted, since the RSUs will be settled solely by delivery of shares of SLM Corporation (the "Company") common stock. These RSUs vest in one-third increments on the first, second and third anniversary of the grant date. A portion of Mr. Dale's 2014 Management Incentive Plan Award was deferred in the form of vested RSUs that carry transfer restrictions that lapse in one-third increments on the first, second and third anniversary of the grant date. Represents shares required to be withheld by the Company to satisfy Mr. Dale's tax withholding obligations upon the grant of RSUs. /s/ Nicolas Jafarieh (POA) for Jeffrey F. Dale 2015-02-12