Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Tuesday, December 18, 2007

Sallie Mae Chair's Stock Sales in the News Again

Sallie Mae Chairman Alfred L. Lord's stock sales made news this year.  Last Friday the company announced that Lord sold 90% of his stock apparently to meet a margin call.  Last February he sold about $18.3 million of his shares just before the administration announced a proposal to cut student loan subsidies.  Lord said he didn't know anything about the proposal.  The Chair still has plenty of stock options.  WPost, A Reversal of Fortune For Sallie Mae Chairman.

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