Michael S. Dunlap - Aug 24, 2023 Form 4 Insider Report for NELNET INC (NNI)

Role
Executive Chairman of Board, Director, 10%+ Owner
Signature
/s/ Audra Hoffschneider, Attorney-in-Fact for Michael S. Dunlap
Stock symbol
NNI
Transactions as of
Aug 24, 2023
Transactions value $
$0
Form type
4
Date filed
8/28/2023, 04:55 PM
Previous filing
Dec 22, 2022
Next filing
Sep 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding NNI Class B Common Stock 125K Aug 24, 2023 By Dynasty Trust F1
holding NNI Class B Common Stock 67.4K Aug 24, 2023 By trust F2
holding NNI Class B Common Stock 67.4K Aug 24, 2023 By trust F3
holding NNI Class B Common Stock 67.4K Aug 24, 2023 By trust F4
holding NNI Class B Common Stock 65.2K Aug 24, 2023 By trust F5
holding NNI Class B Common Stock 65.2K Aug 24, 2023 By trust F6
holding NNI Class B Common Stock 65.2K Aug 24, 2023 By trust F7
holding NNI Class B Common Stock 4.16K Aug 24, 2023 By adult son
holding NNI Class B Common Stock 1.98K Aug 24, 2023 By adult son
holding NNI Class B Common Stock 1.22K Aug 24, 2023 By adult son
holding NNI Class B Common Stock 100 Aug 24, 2023 By adult son
holding NNI Class B Common Stock 100 Aug 24, 2023 By adult son
holding NNI Class B Common Stock 100 Aug 24, 2023 By adult son
holding NNI Class B Common Stock 100 Aug 24, 2023 By 2019 Dynasty Trust F8
holding NNI Class B Common Stock 100 Aug 24, 2023 By 2019 Dynasty Trust F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares held by a separate Dynasty Trust established by the reporting person in 2011, of which an adult son of the reporting person is the initial beneficiary. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F2 Shares held by a 2015 post annuity irrevocable trust, of which an adult son of the reporting person is the beneficiary. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F3 Shares held by a separate 2015 post annuity irrevocable trust, of which an adult son of the reporting person is the beneficiary. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F4 Shares held by a separate 2015 post annuity irrevocable trust, of which an adult son of the reporting person is the beneficiary. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F5 Shares held by a separate 2015 post annuity irrevocable trust, of which an adult son of the reporting person is the beneficiary. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F6 Shares held by a separate 2015 post annuity irrevocable trust, of which an adult son of the reporting person is the beneficiary. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F7 Shares held by a separate 2015 post annuity irrevocable trust, of which an adult son of the reporting person is the beneficiary. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F8 Shares held by a Dynasty Trust established by the reporting person in 2019, of which the adult sons of the reporting person and his spouse are the initial beneficiaries. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F9 Shares held by a Dynasty Trust established by the reporting person's spouse in 2019, of which the adult sons of the reporting person and his spouse are the initial beneficiaries. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

Remarks:

Two of two Form 4s filed on August 28, 2023 for the reporting of an August 24, 2023 exchange of shares included in the first Form 4. This second Form 4 includes holdings that could not be included in the first Form 4 due to a limitation on the number of line items that can be included per table in a single Form 4.