X0306 4 2016-02-04 0001032033 SLM CORP SLM 0001439296 Quinlan Raymond J. 300 CONTINENTAL DRIVE NEWARK DE 19713 1 1 Chairman & CEO Common Stock 2016-02-04 4 F 0 22086 6.06 D 737474 D As previously reported, on February 4, 2014, Mr. Quinlan was granted 69,070 restricted stock units ("RSUs") representing rights to receive shares of common stock of SLM Corporation (the "Company") to vest in one-third increments on February 4, 2015, 2016 and 2017. Mr. Quinlan subsequently received an additional 375 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 Corporation ("Navient"). As previously reported, subsequently on April 30, 2014, the February 4, 2014 award was adjusted in the spin-off of Navient to reflect 192,604 RSUs outstanding. On February 4, 2016, 64,576 shares vested in connection with these RSUs, of which 22,086 shares were withheld by the Company to satisfy Mr. Quinlan's tax withholding obligations. /s/ Nicolas Jafarieh (POA) for Laurent C. Lutz 2016-02-08