Timothy Tewes - 10 Mar 2026 Form 4 Insider Report for NELNET INC (NNI)

Role
President
Signature
/s/ Philip J. Morgan, Attorney-in-Fact for Timothy Tewes
Issuer symbol
NNI
Transactions as of
10 Mar 2026
Net transactions value
$0
Form type
4
Filing time
12 Mar 2026, 21:58:24 UTC
Previous filing
12 Mar 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Tewes Timothy President 121 SOUTH 13TH STREET, SUITE 100, LINCOLN /s/ Philip J. Morgan, Attorney-in-Fact for Timothy Tewes 12 Mar 2026 0001427909

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NNI Class A Common Stock Tax liability -794 -0.95% $131.23* 82,378 10 Mar 2026 Direct F1, F2, F3
transaction NNI Class A Common Stock Tax liability -356 -0.43% $131.23* 82,022 10 Mar 2026 Direct F1, F2, F3
transaction NNI Class A Common Stock Tax liability -322 -0.39% $131.23* 81,700 10 Mar 2026 Direct F1, F2, F3
transaction NNI Class A Common Stock Tax liability -135 -0.17% $131.23* 81,565 10 Mar 2026 Direct F1, F2, F3
transaction NNI Class A Common Stock Award +7,527 +9.2% $0.000000* 89,092 10 Mar 2026 Direct F3, F4
transaction NNI Class A Common Stock Award +8,656 +9.7% $0.000000* 97,748 10 Mar 2026 Direct F3, F5
transaction NNI Class A Common Stock Tax liability -3,700 -3.8% $132.87* 94,048 10 Mar 2026 Direct F6, F7
* 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 10, 2026.
F3 Includes (i) 1,492 shares issued pursuant to the issuer's Employee Share Purchase Plan and (ii) 98 shares acquired through a dividend reinvestment program since March 12, 2025.
F4 These restricted shares were awarded to the reporting person pursuant to the issuer's Restricted Stock Plan. The shares vest equally over a five-year period, with one-fifth of the amount vesting annually on March 10 of each year.
F5 These shares were issued to the reporting person pursuant to the issuer's Restricted Stock Plan, as the annual personal performance-based incentive bonus compensation for 2025 paid in stock, which the reporting person became entitled to receive on March 10, 2026.
F6 Shares that were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the March 10, 2026 award by the issuer of 8,656 shares of bonus compensation stock.
F7 Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the average market closing price of the shares for February 27, 2026 through March 5, 2026.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney