Jonathan W. Witter became the CEO of SLM Corporation in 2020, stepping into the role after a notable career in finance and banking. Before joining SLM, he held executive positions at major companies including Hilton Worldwide and Capital One. Jonathan's...

Number of Employees

1.74K

Year

2023

Total Compensation

$14.01M

Salary

$1.10M

Board Justification

The compensation philosophy aligns with company performance, peer benchmarking, and retention strategies, ensuring that executive compensation is competitive and linked to the achievement of strategic goals.

Bonus

$2.48M

Board Justification

The bonus is based on the 2023 Annual Incentive Plan (AIP) performance metrics, which include Pre-Tax, Pre-Provision, Pre-Operating Expense Income Per Share, Private Education Loan Originations, Operating Expenses Excluding FDIC Expense, and Net Charge-Offs, resulting in a payout of 118.3% of the target.

Other

$35.03K

Board Justification

Other compensation includes employer contributions to defined contribution plans and an executive physical benefit.

Restricted Stock

$10.40M(696.17K RSU)

Board Justification

The vested stock includes RSUs that were granted in previous years and vested in 2023, with a total of 696,173 shares vested during the year.

Performance Metrics

The performance metrics for determining the compensation include financial performance measures such as Pre-Tax, Pre-Provision, Pre-Operating Expense Income Per Share, Private Education Loan Originations, Operating Expenses Excluding FDIC Expense, and Net Charge-Offs.

SEC Filing

From April 26, 2024