X0306 4 2017-02-03 0001032033 SLM CORP SLM 0001668177 Thome Paul F 300 CONTINENTAL DRIVE NEWARK DE 19713 1 EVP & Chief Admin Officer Common Stock 2017-02-03 4 M 0 25363 5.7343 A 241908 D Common Stock 2017-02-03 4 F 0 16446 11.94 D 225462 D Common Stock 2017-02-04 4 F 0 2992 12.04 D 222470 D Common Stock 2017-02-04 4 F 0 527 12.04 D 221943 D Common Stock 40844.207 I 401(k) Savings Plan Common Stock 23847.021 I Supplemental 401(k) Savings Plan Stock Options (Right to Buy) 5.7343 2017-02-03 4 M 0 25363 0 D 2015-02-03 2017-02-03 Common Stock 25363 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. On February 4, 2014, Mr. Thome was awarded 9,888 Restricted Stock Units ("RSUs") representing rights to receive shares of common stock of SLM Corporation (the "Company") that were subsequently adjusted in the spin-off of Navient to reflect 27,734 RSUs outstanding and an additional 58 RSUs attributable to dividends. On February 4, 2017, 9,245 shares of such RSUs vested, of which 2,992 shares of the Company common stock were withheld to satisfy Mr. Thome's tax withholding obligations. On February 4, 2014, a portion of Mr. Thome's 2013 Management Incentive Plan award was deferred in the form of vested Restricted Stock Units ("RSUs") and Mr. Thome was granted 4,841 RSUs that carry transfer restrictions that lapse in one-third increments on February 4, 2015, 2016 and 2017. Mr. Thome subsequently received an additional 28 RSUs relating to the original RSU grant and vesting on the same schedule. These additional RSUs were attributable to dividends paid by the Company prior to the separation of Navient. On February 4, 2017, the restrictions lapsed on 1,624 RSUs, and 527 shares of the Company common stock were withheld to satisfy Mr. Thome's tax withholding obligations. Represents the number of units held in a unitized stock fund in the Sallie Mae 401(k) Savings Plan and the Sallie Mae Supplemental 401(k) Savings Plan as of January 23, 2017. /s/ Nicolas Jafarieh (POA) for Paul F. Thome 2017-02-07