NELNET INC — Director's Dealing 2018

Mar 13, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NELNET INC (NNI)
CIK: 0001258602
Period of Report: 2018-03-09

Reporting Person: Munn William J (Secy/Chief Legal Off/Gen Coun)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-03-09	Class A Common Stock	A	1565	—	Acquired	26032	Direct
2018-03-09	Class A Common Stock	F	455	$55.12	Disposed	25577	Direct
2018-03-10	Class A Common Stock	F	155	$55.36	Disposed	25422	Direct
2018-03-10	Class A Common Stock	F	126	$55.36	Disposed	25296	Direct
2018-03-10	Class A Common Stock	F	141	$55.36	Disposed	25155	Direct
2018-03-10	Class A Common Stock	F	174	$55.36	Disposed	24981	Direct
2018-03-10	Class A Common Stock	F	129	$55.36	Disposed	24852	Direct
2018-03-10	Class A Common Stock	A	1815	—	Acquired	26667	Direct

Footnotes

F1: 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 2017 paid in stock, which the reporting person became entitled to receive on March 9, 2018.

F2: Includes 500 shares held jointly with spouse.

F3: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the March 9, 2018 award by the issuer of 1,565 shares of bonus compensation stock.

F4: 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 28, 2018 through March 6, 2018.

F5: 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).

F6: 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 as of March 12, 2018.

F7: These shares were issued 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.