DEF 14A

DEF 14A 1 d43413ddef14a.htm DEF 14A DEF 14A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

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SLM Corporation

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		300 Continental Drive Newark, Delaware 19713

LETTER FROM THE

CHIEF EXECUTIVE OFFICER

April 22, 2021

Dear Fellow Stockholders:

When I joined Sallie Mae as Chief Executive Officer last year, nobody could have predicted the challenges that we would face in 2020. A global pandemic, social injustice and unrest, and a Presidential election that revealed a divided nation. These challenges had a direct impact on Sallie Mae: we implemented new ways of working, our customers and university partners imagined new ways of delivering education, and our team members managed the stresses and strains impacting their families and our communities. Through it all, however, our team members demonstrated true grit and determination.

As the leader in higher education financing, we strive to be more than just a lender. Access to higher education has a multi-generational impact on the economic success of families. Higher education is also a critical factor in promoting economic mobility and social justice. Because these stakes are so high, we recognize that the journey to and through college is stressful and uncertain for students and their families. As a result, our mission is to power confidence as students begin their unique life journeys.

We are proud that last year we served more than 420,000 students and families with their direct financing needs. We are also proud to have provided tools, information, and services to millions of additional customers to help them simplify the college planning process, improve access, and support the completion of higher education. In addition, in 2020, we pioneered new initiatives to advance equality and social justice, including a $4.5 million commitment over the next three years to provide scholarships and grants to support minority and underserved communities.

This commitment to powering confidence, increasing access and opportunity, and advancing social justice and college completion are highlighted in our latest Corporate Social Responsibility report that was published in April 2021, available on our website at www.salliemae.com.

We appreciate that we cannot “win” for our customers if we do not also “win” for our stockholders. Our investment thesis is simple: we seek to provide attractive growth through a focus on market share and operating leverage, expertly allocate and return capital to stockholders, and manage risk. Further, we seek to align the interest of our team members with this long-term valuation orientation.

Our strategy is designed to deliver for both our customers and stockholders and is comprised of five strategic imperatives. These imperatives include maximizing the profitability and growth of our core business; optimizing the value of our brand and our attractive client base; better informing the external narrative about student lending; maintaining a rigorous and predictable capital allocation and return program to create shareholder value; and driving a mission-led culture. Progress on each imperative is underway through a new organizational structure—introduced in 2020—to better aligns with these focused strategic initiatives.

I look forward to you joining me at the 2021 Annual Meeting of Stockholders (the “Annual Meeting”) on Tuesday, June 8, 2021, at 1 p.m. EDT to be held virtually via the Internet at www.virtualshareholdermeeting.com/SLM2021.

Details of the business to be conducted at the Annual Meeting and how to participate at the meeting are provided in the attached Notice of Annual Meeting and proxy statement. You are being asked to vote on a number of important matters. Your vote is important, regardless of the number of shares you own, and all holders of our Common Stock are cordially invited to attend the Annual Meeting. Whether or not you plan to attend the Annual Meeting, please vote at your earliest convenience by following the instructions in the Notice of Availability of Proxy Materials or the proxy card you received in the mail.

Thank you for your continued support and confidence in Sallie Mae.

All best,

LOGO

Jonathan W. Witter

Chief Executive Officer

LOGO

NOTICE OF 2021 ANNUAL MEETING

OF STOCKHOLDERS

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SEC Form DEF 14A filed by SLM Corporation