NELNET INC — Director's Dealing 2021

Mar 12, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NELNET INC (NNI)
CIK: 0001258602
Period of Report: 2021-03-10

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-10	Class A Common Stock	F	152	$76.70	Disposed	23636	Direct
2021-03-10	Class A Common Stock	F	129	$76.70	Disposed	23507	Direct
2021-03-10	Class A Common Stock	F	107	$76.70	Disposed	23400	Direct
2021-03-10	Class A Common Stock	F	108	$76.70	Disposed	23292	Direct
2021-03-10	Class A Common Stock	F	141	$76.70	Disposed	23151	Direct
2021-03-10	Class A Common Stock	A	2020	—	Acquired	25171	Direct
2021-03-10	Class A Common Stock	A	1936	—	Acquired	27107	Direct
2021-03-10	Class A Common Stock	F	569	$74.26	Disposed	26538	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, 2021.

F3: Includes 500 shares held jointly with spouse.

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 2020 paid in stock, which the reporting person became entitled to receive on March 10, 2021.

F6: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the March 10, 2021 award by the issuer of 1,936 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 February 26, 2021 through March 4, 2021.