Kimberly Kay Rath - Jun 16, 2025 Form 4 Insider Report for NELNET INC (NNI)

Role
Director
Signature
/s/ Audra Hoffschneider, Attorney-in-Fact for Kimberly Kay Rath
Stock symbol
NNI
Transactions as of
Jun 16, 2025
Transactions value $
$170,037
Form type
4
Date filed
6/18/2025, 04:50 PM
Previous filing
Jun 18, 2024
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Rath Kimberly Kay Director C/O NELNET, INC., 121 SOUTH 13TH STREET, SUITE 100, LINCOLN /s/ Audra Hoffschneider, Attorney-in-Fact for Kimberly Kay Rath 2025-06-18 0001417993

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NNI Phantom Stock Award $170K +1.78K +2.9% $95.58 63.1K Jun 16, 2025 Class A Common Stock 1.78K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 1-for-1.
F2 The shares of phantom stock were granted pursuant to the issuer's Directors Stock Compensation Plan. They will become payable in shares of Class A Common Stock promptly after the time of termination of the reporting person's service as a member of the issuer's Board of Directors. The shares will be payable in a lump sum promptly after the time of termination of the reporting person's service as a member of the issuer's Board, or in up to five annual installments, commencing promptly after the time of termination of the reporting person's service on the issuer's Board, as elected by the reporting person.
F3 Includes a total of 610 shares acquired since June 18, 2024 pursuant to the dividend reinvestment feature of the issuer's Directors Stock Compensation Plan.