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: Kruger James D (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-10	Class A Common Stock	A	13467	—	Acquired	173494	Direct
2021-03-10	Class A Common Stock	A	5421	—	Acquired	178915	Direct
2021-03-10	Class A Common Stock	F	1592	$74.26	Disposed	177323	Direct

Footnotes

F1: 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.

F2: Includes 3,138 shares issued pursuant to the issuer's Employee Share Purchase Plan, which number of shares reflects the acquisition of a total of 466 shares under the issuer's Employee Share Purchase Plan since March 12, 2020.

F3: 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.

F4: Shares that 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 5,421 shares of bonus compensation stock.

F5: 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.