James D. Kruger - Mar 10, 2023 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, 2023
Transactions value $
-$309,740
Form type
4
Date filed
3/14/2023, 04:50 PM
Previous filing
Apr 11, 2022
Next filing
Mar 12, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NNI Class A Common Stock Tax liability -$71.5K -791 -1.86% $90.43 41.8K Mar 10, 2023 Direct F1, F2, F3
transaction NNI Class A Common Stock Tax liability -$32.2K -356 -0.85% $90.43 41.4K Mar 10, 2023 Direct F1, F2, F3
transaction NNI Class A Common Stock Award $0 +5.47K +13.21% $0.00 46.9K Mar 10, 2023 Direct F3, F4
transaction NNI Class A Common Stock Award $0 +7.68K +16.38% $0.00 54.6K Mar 10, 2023 Direct F3, F5
transaction NNI Class A Common Stock Tax liability -$206K -2.26K -4.13% $91.36 52.3K Mar 10, 2023 Direct F3, F6, F7
holding NNI Class A Common Stock 13.1K Mar 10, 2023 By GRAT F8
holding NNI Class A Common Stock 13.1K Mar 10, 2023 By GRAT F9
holding NNI Class A Common Stock 10K Mar 10, 2023 By Trust F10
holding NNI Class A Common Stock 10K Mar 10, 2023 By Trust F11
holding NNI Class A Common Stock 10K Mar 10, 2023 By Trust F12
holding NNI Class A Common Stock 45.2K Mar 10, 2023 By revocable trust F13
holding NNI Class A Common Stock 45K Mar 10, 2023 By revocable trust F14
holding NNI Class A Common Stock 1.88K Mar 10, 2023 By spouse F15
* 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, 2023.
F3 Includes 3,743 shares issued pursuant to the issuer's Employee Share Purchase Plan. Also includes (i) 1,000 shares held jointly with spouse and (ii) shares distributed to the reporting person by a grantor retained annuity trust ("GRAT") as discussed in footnote (8) below.
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 2022 paid in stock, which the reporting person became entitled to receive on March 10, 2023.
F6 Shares that were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the March 10, 2023 award by the issuer of 7,683 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, 2023 through March 7, 2023.
F8 Shares held by a GRAT established by the reporting person on September 1, 2021, which reflect an annuity distribution from the trust to the reporting person of 1,880 shares on September 1, 2022. 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, which reflect an annuity distribution from the trust to the reporting person's spouse of 1,880 shares on September 1, 2022. 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.
F13 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.
F14 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.
F15 Includes shares distributed to the reporting person's spouse by a GRAT as discussed in footnote (9) above.