Sallie Mae 2005 Annual Report Download - page 183

SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)
F-61
16. Stock-Based Compensation Plans (Continued)
At December 31, 2005, the outstanding Board of Directors options had a weighted-average remaining
contractual life of 5.6 years.
The following table summarizes information as of December 31, 2005, relating to equity compensation
plans or arrangements of the Company pursuant to which grants of options, restricted stock, restricted
RSUs or other rights to acquire shares may be granted from time to time.
Plan Category
(a)
Number of
securities to be
issued upon exercise
of outstanding
options and rights
Weighted average
exercise price
of outstanding
options and rights
Average
remaining life
(years) of
options outstanding
Number of
securities remaining
available for future
issuance under equity
compensation
plans(1)
Types of
awards
issuable(2)
Equity compensation
plans approved by
security holders:
Directors Stock Plan 3,526,811 $27.99 5.8 1,134,877 NQ,ST
SLM Corporation
Incentive Plan(3). 10,257,439 48.98 9.2 6,354,420 NQ,ISO,RES, RSU
Expired Plans(4) ... 18,465,268 30.89 6.4 — NQ,ISO,RES
Total approved by
security holders . . 32,249,518 36.29 7.2 7,489,297
Equity compensation
plans not approved
by security holders:
Compensation
arrangements. . . 750,000 — — — RSU
Employee Stock
Purchase Plan(5) . — — — 1,335,910
Expired Plan(6).... 9,325,049 28.43 6.2 — NQ,RES
Total not approved by
security holders . . 10,075,049 28.43 6.2 1,335,910
Total............. 42,324,567 $34.52 7.0 8,825,207
(1) Excludes securities included in column (a) and excludes shares that may be issued under the replacement option program.
(2) NQ (Non-Qualified Stock Option), ISO (Incentive Stock Option), RES (Restricted/Performance Stock), RSU (Restricted Stock Unit), ST (Stock
Grant).
(3) The SLM Corporation Incentive Plan is subject to an aggregate limit of 2,000,000 shares that may be issued as Performance Stock or Restricted
Stock Units. As of December 31, 2005, 1,446,113 shares are remaining from this authority.
(4) Expired plans for which unexercised options remain outstanding include the 1993-1998 Stock Option Plan, Management Incentive Plan and
Board of Directors Stock Option Plan.
(5) Number of shares available for issuance under the ESPP.
(6) Expired plan for which unexercised options remain outstanding includes the Employee Stock Option Plan. Included in this plan are 94,500
outstanding options granted to former GSE board members. These options are included in the Board of Directors stock option activity table
shown on the prior page.