0001032033false00010320332024-02-132024-02-130001032033us-gaap:CommonClassAMember2024-02-132024-02-130001032033us-gaap:NoncumulativePreferredStockMember2024-02-132024-02-13

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): February 13, 2024

SLM CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
001-13251
52-2013874
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
300 Continental Drive
Newark,
Delaware
19713
(Address of principal executive offices)
(Zip Code)

Registrant's telephone number, including area code: (302) 451-0200
(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, par value $.20 per shareSLMThe NASDAQ Global Select Market
Floating Rate Non-Cumulative Preferred Stock, Series B, par value $.20 per shareSLMBPThe NASDAQ Global Select Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

Target Annual Incentive Bonus Increase for Kerri A. Palmer
On February 13, 2024, the Compensation Committee of the Board of Directors of SLM Corporation (the “Registrant”), approved an increase of 15 percentage points to Kerri A. Palmer’s target annual incentive bonus under the Registrant’s 2024 Annual Incentive Plan, raising her target bonus opportunity from 135% of her annual base salary to 150% of her annual base salary, to ensure her compensation as the Registrant’s Executive Vice President and Chief Operational Officer remains competitive with the market and to further tie her compensation to the Registrant’s performance in fiscal year 2024 and going forward.



SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                        
SLM CORPORATION
Date: February 16, 2024By:/s/ Nicolas Jafarieh
Nicolas Jafarieh
Executive Vice President and Chief Legal, Government Affairs, and Communications Officer


                

                            
                    




v3.24.0.1
Document and Entity Information Document
Feb. 13, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Feb. 13, 2024
Entity Registrant Name SLM CORP
Entity Central Index Key 0001032033
Amendment Flag false
Entity Incorporation, State or Country Code DE
Entity File Number 001-13251
Entity Tax Identification Number 52-2013874
Entity Address, Address Line One 300 Continental Drive
Entity Address, City or Town Newark,
Entity Address, State or Province DE
Entity Address, Postal Zip Code 19713
City Area Code 302
Local Phone Number 451-0200
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Common Class A [Member]  
Entity Information [Line Items]  
Title of 12(b) Security Common stock, par value $.20 per share
Trading Symbol SLM
Security Exchange Name NASDAQ
Noncumulative Preferred Stock [Member]  
Entity Information [Line Items]  
Title of 12(b) Security Floating Rate Non-Cumulative Preferred Stock, Series B, par value $.20 per share
Trading Symbol SLMBP
Security Exchange Name NASDAQ
SLM (NASDAQ:SLMBP)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more SLM Charts.
SLM (NASDAQ:SLMBP)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more SLM Charts.