NEWARK, DE — Sallie Mae (Nasdaq: SLM) has entered into a $200 million accelerated share repurchase agreement with Goldman Sachs as part of a broader $500 million stock buyback program, the company announced.
The agreement, executed last week, is part of a repurchase plan authorized by the company’s board on January 22, 2026.
Under the terms, Sallie Mae will prefund the $200 million transaction on March 10 and expects to receive and retire a significant portion of shares shortly after execution.
The final number of shares repurchased will be based on the volume-weighted average price of the company’s stock during the agreement period, subject to adjustments.
The company said the transaction is expected to be completed before the end of the second quarter of 2026.
Sallie Mae reported that total share repurchases and commitments for the first quarter are approaching $300 million, including the accelerated repurchase agreement.
“Today’s accelerated share repurchase announcement, together with shares already repurchased this quarter, brings our first-quarter share repurchases and commitments to nearly $300 million,” CEO Jon Witter said in a statement.
The company said additional details will be included in a Form 8-K filing with the U.S. Securities and Exchange Commission.
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