Lordly Payout From Sallie Mae Buyout: $225 Million

RESTON, Va. – Sallie Mae Chairman Albert Lord, who engineered the groundbreaking privatization of the student loan giant, will reap one of the biggest rewards in recent years from the $25 billion takeover of the company–almost $225 million. Lord, who negotiated the $60-a-share buyout, owns shares or options for 7.34 million Sallie Mae shares which will earn him $224.9 million, according to a filing with the Securities and Exchange Commission on Friday. Lord has taken home more than $100 million in compensation since 2000. Several other Sallie Mae insiders will reap huge profits form the buyout, including directors Alexander Porter, Jr., $25.2 million, Charles Daley, $10.2 million, and Steven Shapiro, $10 million, and executives C.E. Andrews and Robert Autor, both $16 million.