James D. Kruger - Mar 10, 2022 Form 4 Insider Report for NELNET INC (NNI)

Role
Chief Financial Officer
Signature
/s/ Audra Hoffschneider, Attorney-in-Fact for James D. Kruger
Stock symbol
NNI
Transactions as of
Mar 10, 2022
Transactions value $
-$329,877
Form type
4
Date filed
3/14/2022, 04:17 PM
Previous filing
Sep 2, 2021
Next filing
Apr 11, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NNI Class A Common Stock Tax liability -$65.7K -786 -0.67% $83.64 117K Mar 10, 2022 Direct F1, F2, F3
transaction NNI Class A Common Stock Award $0 +6.05K +5.18% $0.00 123K Mar 10, 2022 Direct F3, F4
transaction NNI Class A Common Stock Award $0 +10.9K +8.86% $0.00 134K Mar 10, 2022 Direct F3, F5
transaction NNI Class A Common Stock Tax liability -$264K -3.2K -2.39% $82.62 131K Mar 10, 2022 Direct F3, F6, F7
holding NNI Class A Common Stock 15K Mar 10, 2022 By GRAT F8
holding NNI Class A Common Stock 15K Mar 10, 2022 By GRAT F9
holding NNI Class A Common Stock 10K Mar 10, 2022 By trust F10
holding NNI Class A Common Stock 10K Mar 10, 2022 By trust F11
holding NNI Class A Common Stock 10K Mar 10, 2022 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 10, 2022.
F3 Includes 3,488 shares issued pursuant to the issuer's Employee Share Purchase Plan. Also includes 93,100 shares held jointly with spouse, which number of jointly held shares reflects the vesting of 2,694 shares from a previously reported grant of shares to the reporting person pursuant to Rule 16b-3(d) and a transfer of such shares to a joint ownership account on March 10, 2022.
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 2021 paid in stock, which the reporting person became entitled to receive on March 10, 2022.
F6 Shares that were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the March 10, 2022 award by the issuer of 10,892 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 March 1, 2022 through March 7, 2022.
F8 Shares held by a grantor retained annuity trust ("GRAT) established by the reporting person on September 1, 2021. 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 GRAT established by the reporting person's spouse on September 1, 2021. 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 an adult 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 adult 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 an adult 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.