Adam K. Peterson - Jun 9, 2025 Form 4 Insider Report for NELNET INC (NNI)

Role
Director, Other*
Signature
/s/ Adam K. Peterson
Stock symbol
NNI
Transactions as of
Jun 9, 2025
Transactions value $
$0
Form type
4
Date filed
6/10/2025, 07:01 PM
Previous filing
Jan 14, 2025
Next filing
Jun 18, 2025
SEC
View on sec.gov

Reporting Owners (3)

Name Relationship Address Signature Signature date CIK
Peterson Adam K Director, Other* 1601 DODGE STREET, SUITE 3300, OMAHA /s/ Adam K. Peterson 2025-06-10 0001667769
MAGNOLIA CAPITAL FUND, LP Other* 1601 DODGE STREET, SUITE 3300, OMAHA /s/ Adam K. Peterson on behalf of the Magnolia Capital Fund, LP by its General Partner, The Magnolia Group, LLC 2025-06-10 0001618333
MAGNOLIA GROUP, LLC Other* 1601 DODGE STREET, SUITE 3300, OMAHA /s/ Adam K. Peterson, managing member on behalf of The Magnolia Group, LLC 2025-06-10 0001618376

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NNI Class A Common Stock, Par Value $0.01 per Share Other $0 -231K -12.11% $0.00 1.68M Jun 9, 2025 Direct F1, F2, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported shares are directly owned by Adam K. Peterson ("Mr. Peterson"), The Magnolia Group, LLC ("TMG") and Magnolia Capital Fund ("MCF"). TMG is the general partner and investment manager of MCF. Mr. Peterson is the managing member of TMG. TMG and Mr. Peterson could both be deemed to share indirect beneficial ownership of the shares reported herein for those reporting persons.
F2 TMG and Mr. Peterson disclaim beneficial ownership with respect to the shares reported indirectly except to the extent of their respective pecuniary interests therein, and this report shall not be deemed an admission of beneficial ownership of these securities for Section 16 or for any other purposes.
F3 Mr. Peterson serves on the Board of Directors of the Issuer.
F4 In satisfaction of a partial withdrawal request, MCF distributed in-kind to three limited partners a total of 231,024 shares of the Issuer's Common Stock on June 9, 2025. As a result of the distribution, MCF is no longer deemed beneficial owner of such distributed shares and, accordingly, the number of shares reported by MCF decreased by 231,024 (with a corresponding decrease in the number of shares beneficially owned by TMG, as the general partner of MCF, and Mr. Peterson, as the managing member of TMG).
F5 MCF may be deemed the beneficial owner of 1,668,976 shares of Common Stock that it holds. TMG may be deemed the beneficial owner of 1,668,976 shares of Common Stock that it holds. Mr. Peterson may be deemed the beneficial owner of 1,676,487 shares of Common Stock, including the 7,511 shares of Phantom Stock that he holds directly and he holds interest in MCF and TMG.

Remarks:

TMG and Mr. Peterson disclaim beneficial ownership except to the extent of their respective pecuniary interests therein of shares except the 7,511 shares Mr. Peterson directly owns, and this report shall not be deemed an admission of beneficial ownership of these securities for Section 16 or for any other purposes.