SLM Corporation
09/30/2025 | Press release | Distributed by Public on 09/30/2025 14:30
Management Change/Compensation (Form 8-K)
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On September 29, 2025, SLM Corporation (the "Company") entered into a retention agreement with Donna F. Vieira, the Company's Executive Vice President and Chief Commercial Officer (the "Retention Agreement"). Pursuant to the Retention Agreement, Ms. Vieira will remain with the Company and continue to serve as the Company's Chief Commercial Officer through December 31, 2025 (or such earlier date as determined by the Company in connection with the hiring of a new Chief Commercial Officer) (the "Transition Date") and as an employee of the Company through April 3, 2026 (the "Separation Date"). Ms. Vieira will resign as Chief Commercial Officer on the Transition Date and retire as an employee of the Company on the Separation Date.
Subject to the terms and conditions of the Retention Agreement, including continued adequate performance and assistance in transition of her duties and responsibilities through the Separation Date, Ms. Vieira will receive a cash retention bonus of $750,000 (the "Retention Bonus"). The Retention Agreement contains a general release of claims by Ms. Vieira, which she must reaffirm on or immediately following the Separation Date, and certain customary restrictive covenants. In the event that Ms. Vieira voluntarily resigns her employment prior to the Separation Date, or is terminated by the Company in a Termination of Employment For Cause (as defined in the Severance Plan (referenced below)), she will not be entitled to payment of the Retention Bonus. Ms. Vieira will not be entitled to rights or benefits, including any severance, under the Company's Amended and Restated Executive Severance Plan for Senior Officers (the "Severance Plan"). For purposes of the Company's compensation, equity and other benefit plans, Ms. Vieira is considered retirement-eligible and will receive treatment consistent with her retirement eligibility.
The foregoing summary of the Retention Agreement is qualified in its entirety by the text of the Retention Agreement, a copy of which is filed herewith as Exhibit 10.1 hereto and incorporated by reference herein.
SLM Corporation published this content on September 30, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on September 30, 2025 at 20:31 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]