3
2009-01-29
0001032033
SLM
0001454161
*pkmfz3u
12061 Bluemont Way
Reston
VA
20190
0
1
0
0
Executive Vice President
Common Stock
9000
D
Stock Option (Right to Buy)
19.3000
2018-03-04
Common Stock
125000.0000
D
Stock Option (Right to Buy)
11.2100
2019-01-29
Common Stock
45000.0000
D
Fifty percent of these options become exercisable upon the Company's common stock having a closing price on the New York Stock Exchange of $23.16, for five trading days, but no sooner than March 4, 2009; 50 percent of these options become exercisable upon the Company's common stock having a closing price on the New York Stock Exchange of $27.02, for five trading days, but no sooner than March 4, 2010; they also become exercisable on the eight anniversary of the grant (March 4, 2016).
One-third of these options vest upon the later of the first anniversary of the grant date (January 29, 2010) and the extent to which core earnings net income is achieved. One-third of these options vest upon the later of the second anniversary of the grant date (January 29, 2011) and the extent to which core earnings net income is achieved. One-third of these options vest upon the later of the third anniversary of the grant date (January 29, 2012) and the extent to which core earnings net income is achieved. To the extent of vesting of each one-third of the options, any remaining unvested options of the one-third eligible for vesting in that year will be forfeited and cancelled.
Exhibit 24 - Power of Attorney
By: Mary F. Eure (POA)
2009-02-06