NELNET INC — Director's Dealing 2017

Nov 14, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NELNET INC (NNI)
CIK: 0001258602
Period of Report: 2017-11-13

Reporting Person: REARDON MICHAEL D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-11-13	Class A Common Stock	S	5648	$50.834	Disposed	15100	Direct
2017-11-13	Class A Common Stock	S	100	$51.38	Disposed	15000	Direct

Footnotes

F1: These shares were sold pursuant to a Rule 10b5-1 Sales Plan (the "Plan") entered into on August 11, 2017, which provided for the sale of shares of the issuer's Class A Common Stock. With the sales of the shares reported in this Form 4, the Plan has been completed and no future sales may occur pursuant to the Plan.

F2: Rule 10b5-1, promulgated under the Securities Exchange Act of 1934, allows directors of a company who are not in possession of material non-public information to establish pre-arranged plans to buy or sell a specified number of shares of such company's stock. Once a plan is established, the director does not retain or exercise any discretion over sales of stock under the plan and the pre-planned trades may be executed at later dates as set forth in the plan.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.30 to $51.22 inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within such range.

F4: Includes 10,024 shares held jointly with the reporting person's spouse.

F5: Includes 9,924 shares held jointly with the reporting person's spouse.