Sallie Mae 2006 Annual Report Download - page 183

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16. Stock-Based Compensation Plans (Continued)
The weighted average fair value of the stock purchase rights of the ESPP offerings in the year ended
December 31, 2006 was $11.31. The fair value is amortized to compensation cost on a straight-line basis over
a two-year vesting period. As of December 31, 2006, there was $1 million of unrecognized compensation cost
related to ESPP, which is expected to be recognized over a weighted average period of 1.3 years.
During the year ended December 31, 2006, 182,066 shares of the Company’s common stock were
purchased by plan participants.
F-64
SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)