NELNET INC — Director's Dealing 2020

Mar 12, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NELNET INC (NNI)
CIK: 0001258602
Period of Report: 2020-03-10

Reporting Person: Kruger James D (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-10	Class A Common Stock	F	250	$50.33	Disposed	153864	Direct
2020-03-10	Class A Common Stock	A	8064	—	Acquired	161928	Direct
2020-03-10	Class A Common Stock	F	2367	$52.20	Disposed	159561	Direct

Footnotes

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, 2020.

F3: Includes 2,672 shares issued pursuant to the issuer's Employee Share Purchase Plan, which number of shares reflects the acquisition of a total of 442 shares under the issuer's Employee Share Purchase Plan since March 12, 2019.

F4: Issued pursuant to the issuer's Restricted Stock Plan, as the annual personal performance-based incentive bonus compensation for 2019 paid in stock, which the reporting person became entitled to receive on March 10, 2020.

F5: Shares that were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the March 10, 2020 award by the issuer of 8,064 shares of bonus compensation stock.

F6: 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, 2020 through March 5, 2020.