X0306 4 2016-02-10 0001032033 SLM CORP SLM 0001614710 Dale Jeffrey 300 CONTINENTAL DR NEWARK DE 19713 1 SVP & Chief Risk Officer Common Stock 2016-02-10 4 F 0 3507 5.70 D 72395 D Common Stock 2016-02-10 4 F 0 1507 5.70 D 70888 D As previously reported, on February 10, 2015, Mr. Dale was granted 31,746 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 10, 2016, 2017 and 2018. On February 10, 2016, 10,582 shares vested in connection with these RSUs, of which 3,507 shares were withheld by the Company to satisfy Mr. Dale's tax withholding obligations. On February 10, 2015, 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 February 10, 2016, 2017 and 2018. On February 10, 2016, the restrictions lapsed on 4,768 RSUs, and 1,507 shares of the Company common stock were withheld to satisfy Mr. Dale's tax obligations in connection with the lapsing of such restrictions. /s/ Nicolas Jafarieh (POA) for Jeffrey F. Dale 2016-02-12