SLM Corp
For the period ended Mar 31, 2025. Filed Apr 24, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed Apr 24, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
Share Repurchases
The following table provides information relating to our purchase of shares of our common stock in the three months ended March 31, 2025.
| (Dollars in thousands, except per share data) | Total Numberof SharesPurchased(1) | Average PricePaid perShare | Total Number ofShares Purchasedas Part of PubliclyAnnounced Plansor Programs(2)(3) | Approximate DollarValueof Shares ThatMay Yet BePurchased UnderPublicly AnnouncedPlans orPrograms(2) |
|---|---|---|---|---|
| Period: | ||||
| January 1 - January 31, 2025 | 7,645 | $28.35 | — | $402,000 |
| February 1 - February 28, 2025 | 1,123,800 | $31.14 | 337,782 | $392,000 |
| March 1 - March 31, 2025 | 736,814 | $29.19 | 699,609 | $372,000 |
| Total first-quarter 2025 | 1,868,259 | $30.36 | 1,037,391 | |
(1) The total number of shares purchased includes: (i) shares purchased under the stock repurchase programs discussed herein, and (ii) 830,868 shares of our common stock tendered to us to satisfy the exercise price in connection with cashless exercises of stock options, and tax withholding obligations in connection with exercises of stock options and vesting of restricted stock, restricted stock units, performance stock units, and dividend equivalent units.
(2) As of March 31, 2025, we had $372 million in capacity remaining under the 2024 Share Repurchase Program. The 2024 Share Repurchase Program was announced on January 24, 2024, with an effective date of January 26, 2024, and expires on February 6, 2026. See Note 9, “Stockholders’ Equity” to our consolidated financial statements in this Form 10-Q for further discussion.
(3)In the first quarter of 2025, we repurchased 1.0 million shares under 10b5-1 trading plans. See Note 9, “Stockholders’ Equity” to our consolidated financial statements in this Form 10-Q for further discussion.
The closing price of our common stock on the NASDAQ Global Select Market on March 31, 2025 was $29.37.
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