NELNET INC — Director's Dealing 2018

Dec 13, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NELNET INC (NNI)
CIK: 0001258602
Period of Report: 2018-04-04

Reporting Person: BUTTERFIELD STEPHEN F (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-04-04	Class B Common Stock	G	16808	—	Disposed	33617	Indirect
2018-04-04	Class B Common Stock	G	16808	—	Acquired	16808	Indirect
2018-04-13	Class B Common Stock	G	300	—	Disposed	33317	Indirect
2018-04-13	Class B Common Stock	G	100	—	Acquired	100	Indirect
2018-04-13	Class B Common Stock	G	100	—	Acquired	100	Indirect
2018-04-13	Class B Common Stock	G	100	—	Acquired	100	Indirect
2018-04-13	Class B Common Stock	G	100	—	Disposed	50325	Indirect
2018-04-13	Class B Common Stock	G	100	—	Acquired	100	Indirect
2018-04-13	Class B Common Stock	G	100	—	Disposed	50325	Indirect
2018-04-13	Class B Common Stock	G	100	—	Acquired	100	Indirect
2018-04-13	Class B Common Stock	G	100	—	Disposed	50325	Indirect
2018-04-13	Class B Common Stock	G	100	—	Acquired	100	Indirect
2018-04-13	Class B Common Stock	G	100	—	Disposed	50325	Indirect
2018-04-13	Class B Common Stock	G	100	—	Acquired	100	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	881077	Direct
Class B Common Stock	70586	Indirect
Class B Common Stock	76521	Indirect
Class B Common Stock	88385	Indirect
Class B Common Stock	82947	Indirect
Class B Common Stock	95787	Indirect
Class B Common Stock	82947	Indirect
Class B Common Stock	95787	Indirect
Class B Common Stock	99259	Indirect
Class B Common Stock	76521	Indirect
Class B Common Stock	88385	Indirect
Class B Common Stock	92327	Indirect
Class B Common Stock	94288	Indirect
Class B Common Stock	100000	Indirect
Class B Common Stock	1586691	Indirect
Class B Common Stock	61941	Indirect

Footnotes

F1: On April 4, 2018, a trust of which an adult son of the reporting person is the beneficiary distributed 16,808 shares to such adult son of the reporting person.

F2: Shares held by a trust, of which an adult son of the reporting person is the beneficiary. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F3: On April 13, 2018, a trust of which an adult son of the reporting person is the beneficiary distributed a total of 300 shares to such adult son as custodian under the Uniform Transfers to Minors Act for the granddaughter and two grandsons of the reporting person, in increments of 100 shares for each of the granddaughter and the two grandsons.

F4: On April 13, 2018, a trust of which another adult son of the reporting person is the beneficiary distributed 100 shares to such adult son of the reporting person.

F5: Shares held by a trust, of which another adult son of the reporting person is the beneficiary. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F6: On April 13, 2018, a trust of which another adult son of the reporting person is the beneficiary distributed 100 shares to such adult son of the reporting person.

F7: Shares held by a trust, of which another adult son of the reporting person is the beneficiary. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F8: On April 13, 2018, a trust of which the daughter of the reporting person is the beneficiary distributed 100 shares to the reporting person's spouse as custodian under the Uniform Transfers to Minors Act for such daughter of the reporting person.

F9: Shares held by a trust, of which the daughter of the reporting person is the beneficiary.

F10: On April 13, 2018, a trust of which another son of the reporting person is the beneficiary distributed 100 shares to the reporting person's spouse as custodian under the Uniform Transfers to Minors Act for such son of the reporting person.

F11: Shares held by a trust, of which another son of the reporting person is the beneficiary.

F12: Includes 135,332 shares held by the Stephen F. Butterfield Revocable Living Trust, the agreement for which was revocable by the reporting person while he was living. As noted in the Remarks below, the reporting person passed away on April 16, 2018.

F13: Shares held by a grantor retained annuity trust ("GRAT") dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F14: Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F15: Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F16: Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F17: Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F18: Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F19: Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F20: Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F21: Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F22: Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F23: Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F24: Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F25: Shares held by Union Financial Services, Inc. ("UFS"), of which the reporting person was a director and president and owned 50.0% of the outstanding capital stock. The reporting person reported beneficial ownership of all the shares held by UFS, but disclaimed beneficial ownership of the shares held by UFS except to the extent of his pecuniary interest therein.

F26: Shares held by a charitable lead annuity trust ("CLAT") established by the reporting person, of which CLAT the descendants of the reporting person are remainder beneficiaries. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.