Shelby J. Butterfield - Jul 28, 2025 Form 4 Insider Report for NELNET INC (NNI)

Role
10%+ Owner
Signature
/s/ Audra Hoffschneider, Attorney-in-Fact for Shelby J. Butterfield
Stock symbol
NNI
Transactions as of
Jul 28, 2025
Transactions value $
$0
Form type
4
Date filed
7/30/2025, 06:54 PM
Previous filing
Jan 3, 2025
Next filing
Aug 27, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Butterfield Shelby J 10%+ Owner C/O NELNET, INC., 121 SOUTH 13TH STREET, SUITE 100, LINCOLN /s/ Audra Hoffschneider, Attorney-in-Fact for Shelby J. Butterfield 2025-07-30 0001808121

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NNI Class B Common Stock Gift $0 -18.4K -100% $0.00 0 Jul 28, 2025 By CLAT F1
transaction NNI Class B Common Stock Gift $0 +3.69K $0.00 3.69K Jul 28, 2025 By trust F1, F2
transaction NNI Class B Common Stock Gift $0 +3.68K $0.00 3.68K Jul 28, 2025 By trust F1, F3
holding NNI Class A Common Stock 510 Jul 28, 2025 By Butterfield GST Non-Exempt Marital Trust F4
holding NNI Class B Common Stock 221K Jul 28, 2025 By Butterfield GST Non-Exempt Marital Trust F4
holding NNI Class B Common Stock 210K Jul 28, 2025 By Butterfield GST Exempt Marital Trust F5
holding NNI Class B Common Stock 42.9K Jul 28, 2025 Direct
holding NNI Class B Common Stock 1.59M Jul 28, 2025 By corporation F6
holding NNI Class B Common Stock 70.6K Jul 28, 2025 By GRAT F7
holding NNI Class B Common Stock 93.8K Jul 28, 2025 By GRAT F8
holding NNI Class B Common Stock 100K Jul 28, 2025 By GRAT F9
holding NNI Class B Common Stock 61.4K Jul 28, 2025 By GRAT F10
holding NNI Class B Common Stock 75.6K Jul 28, 2025 By GRAT F11
holding NNI Class B Common Stock 82.7K Jul 28, 2025 By GRAT F12
holding NNI Class B Common Stock 61.3K Jul 28, 2025 By GRAT F13
holding NNI Class B Common Stock 70.5K Jul 28, 2025 By GRAT F14
holding NNI Class B Common Stock 5 Jul 28, 2025 By the Estate of Stephen F. Butterfield F15
holding NNI Class B Common Stock 18.4K Jul 28, 2025 By trust F16
holding NNI Class B Common Stock 18.4K Jul 28, 2025 By trust F17
holding NNI Class B Common Stock 137K Jul 28, 2025 By limited liability company F18
holding NNI Class B Common Stock 100 Jul 28, 2025 By the reporting person as UTMA custodian for daughter
holding NNI Class B Common Stock 100 Jul 28, 2025 By the reporting person as UTMA custodian for son
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the transfer of shares upon the termination of the charitable lead annuity trust ("CLAT") established by Stephen F. Butterfield in accordance with its terms. 7,369 shares of Class B Common Stock were transferred to the trusts described in footnotes (2) and (3) below. The remaining 11,055 shares of Class B Common Stock were transferred to descendants of Mr. Butterfield who do not share the reporting person's household.
F2 Shares held by a Butterfield CLAT Post-Annuity Trust, of which the daughter of the reporting person is the beneficiary.
F3 Shares held by a separate Butterfield CLAT Post-Annuity Trust, of which the son of the reporting person is the beneficiary.
F4 Shares held by the Stephen F. Butterfield GST Non-Exempt Marital Trust (the "Non-Exempt Marital Trust"), an estate planning trust for the family of Stephen F. Butterfield. The number of shares of Class B Common Stock reflects the transfer of 7,571 shares of Class B Common Stock from the Estate of Stephen F. Butterfield (the "Butterfield Estate") to the Non-Exempt Marital Trust on February 6, 2025 as discussed in footnote (15) below . The reporting person reports beneficial ownership of all the shares held by the Non-Exempt Marital Trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of her pecuniary interest therein.
F5 Shares held by the Stephen F. Butterfield GST Exempt Marital Trust, an estate planning trust for the family of Stephen F. Butterfield. The reporting person reports beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of her pecuniary interest therein.
F6 Shares held by Union Financial Services, Inc. ("UFS"), of which the Butterfield GST Non-Exempt Marital Trust owns 50.0% of the outstanding capital stock and the Executive Chairman of the issuer owns the other 50.0% of the outstanding capital stock. The reporting person reports beneficial ownership of all the shares held by UFS, but disclaims beneficial ownership of the shares held by UFS except to the extent of her pecuniary interest therein.
F7 Shares held by a GRAT established by the reporting person on December 18, 2015. The reporting person reports beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of her pecuniary interest therein.
F8 Shares held by a separate GRAT established by the reporting person on December 18, 2015. The reporting person reports beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of her pecuniary interest therein.
F9 Shares held by a separate GRAT established by the reporting person on December 18, 2015. The reporting person reports beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of her pecuniary interest therein.
F10 Shares held by a separate GRAT established by the reporting person on December 18, 2015. The reporting person reports beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of her pecuniary interest therein.
F11 Shares held by a separate GRAT established by the reporting person on December 18, 2015. The reporting person reports beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of her pecuniary interest therein.
F12 Shares held by a separate GRAT established by the reporting person on December 18, 2015. The reporting person reports beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of her pecuniary interest therein.
F13 Shares held by a GRAT established by Stephen F. Butterfield on December 18, 2015. The reporting person reports beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of her pecuniary interest therein.
F14 Shares held by a separate GRAT established by Stephen F. Butterfield on December 18, 2015. The reporting person reports beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of her pecuniary interest therein.
F15 Shares held by the Butterfield Estate, for which the reporting person is the personal representative, and which number of shares reflects the transfer of 7,571 shares of Class B Common Stock from the Butterfield Estate to the Non-Exempt Marital Trust on February 6, 2025 as discussed in footnote (4) above. The reporting person disclaims beneficial ownership of the shares held by the Butterfield Estate, except to the extent of her pecuniary interest therein.
F16 Shares held by a trust for the benefit of the reporting person's daughter.
F17 Shares held by a trust for the benefit of the reporting person's son.
F18 Shares held by a family limited liability company controlled by the reporting person. The reporting person disclaims beneficial ownership of the shares held by the limited liability company, except to the extent of her pecuniary interest therein.