X0306 4 2016-11-16 0001032033 SLM CORP SLM 0001376712 Lutz Laurent Charles 300 CONTINENTAL DRIVE NEWARK DE 19713 1 EVP, GC and Secretary Common Stock 2016-11-16 4 M 0 107775 5.7343 A 1052759.4601 D Common Stock 2016-11-16 4 F 0 86678 9.40 D 966081.4601 D Common Stock 2016-11-16 4 S 0 21097 9.401 D 944984.4601 D Common Stock 2016-11-16 5 G 0 E 13000 0 D 931984.4601 D Stock Options (Right to Buy) 5.7343 2016-11-16 4 M 0 107775 0 D 2015-02-03 2017-02-03 Common Stock 107775 0 D Stock options exercised by the reporting person in advance of pending expiration of options. Represents shares withheld by the Company to satisfy the exercise price of the option, and to satisfy the reporting person's tax withholding obligations upon the exercise of the option. Represents a gift to a previously created endowed public interest law fellowship. /s/ Nicolas Jafarieh (POA) for Laurent C. Lutz 2016-11-18