4 2006-01-26 0 0001032033 SLM 0001065135 hg$prsg5 12061 Bluemont Way Reston VA 20190 1 0 0 0 Phantom Stock Units 2006-01-26 4 A 0 134.36 55.8200 A Common Stock 134.3600 15307.5390 D Phantom Stock Units 2006-01-27 4 I 0 160.338 56.8300 A Common Stock 160.3380 15467.8770 D Conversion or Exercise Price of Derivative Security is 1 to 1. Phantom Stock Units accrued under the Directors Deferred Compensation Plan are to be settled in the Company's common stock upon the reporting person's separation from service. Includes shares acquired through dividend reinvestments. By: Mary F. Eure (POA) 2006-01-27