Terry J. Heimes - Mar 10, 2024 Form 4 Insider Report for NELNET INC (NNI)

Role
Chief Operating Officer
Signature
/s/ Audra Hoffschneider, Attorney-in-Fact for Terry J. Heimes
Stock symbol
NNI
Transactions as of
Mar 10, 2024
Transactions value $
-$130,197
Form type
4
Date filed
3/12/2024, 05:37 PM
Previous filing
Mar 14, 2023
Next filing
Apr 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NNI Class A Common Stock Tax liability -$70.1K -791 -2.87% $88.63 26.7K Mar 10, 2024 Direct F1, F2, F3
transaction NNI Class A Common Stock Tax liability -$31.6K -356 -1.33% $88.63 26.4K Mar 10, 2024 Direct F1, F2
transaction NNI Class A Common Stock Tax liability -$28.5K -322 -1.22% $88.63 26.1K Mar 10, 2024 Direct F1, F2
holding NNI Class A Common Stock 130K Mar 10, 2024 By revocable trust F4
holding NNI Class A Common Stock 3.62K Mar 10, 2024 By spouse F5
holding NNI Class A Common Stock 50K Mar 10, 2024 By revocable trust F6
holding NNI Class A Common Stock 6.47K Mar 10, 2024 By GRAT F7
holding NNI Class A Common Stock 6.47K Mar 10, 2024 By GRAT F8
holding NNI Class A Common Stock 5K Mar 10, 2024 By trust F9
holding NNI Class A Common Stock 5K Mar 10, 2024 By trust F10
holding NNI Class A Common Stock 5K Mar 10, 2024 By trust F11
holding NNI Class A Common Stock 5K Mar 10, 2024 By trust F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).
F2 Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 8, 2024.
F3 The number of shares reflects (i) shares contributed to a revocable trust as discussed in footnote (4) below and (ii) shares distributed to the reporting person by a grantor retained annuity trust ("GRAT") as discussed in footnote (7) below.
F4 Shares held by a revocable trust established by the reporting person, of which trust the reporting person is the sole trustee and sole lifetime beneficiary. On April 14, 2023, the reporting person contributed a total of 7,779 shares to the revocable trust.
F5 Includes shares distributed to the reporting person's spouse by a GRAT as discussed in footnote (8) below.
F6 Shares held by a revocable trust established by the reporting person's spouse, of which trust the reporting person's spouse is the sole trustee and sole lifetime beneficiary.
F7 Shares held by a GRAT established by the reporting person on March 11, 2020, which reflect an annuity distribution from the trust to the reporting person of 1,320 shares on March 15, 2023. 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 GRAT established by the reporting person's spouse on March 11, 2020, which reflect an annuity distribution from the trust to the reporting person's spouse of 1,320 shares on March 15, 2023. 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 trust for the benefit of a son of the reporting person. 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.
F10 Shares held by a trust for the benefit of another son of the reporting person. 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.
F11 Shares held by a trust for the benefit of another son of the reporting person. 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.
F12 Shares held by a trust for the benefit of the daughter of the reporting person. 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.