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Filing Details

Accession Number:: 0001437749-20-010771
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-05-14 16:31:42
Reporting Period:: 2020-05-12

Accepted Time:: 2020-05-14 16:31:42
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1258602	Nelnet Inc	NNI	Personal Credit Institutions (6141)	840748903

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1269797	S Michael Dunlap	121 South 13Th Street Suite 100 Lincoln NE 68508	Executive Chairman Of Board	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class B Common Stock	Disposition	2020-05-12	1,347,200	$44.57	1,600,000	No	4	S	Indirect	By Dunlap Holdings, LLC
Class B Common Stock	Acquisiton	2020-05-12	1,347,200	$44.57	1,600,000	No	4	P	Indirect	By Dunlap Holdings, LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Dunlap Holdings, LLC
No	4	P	Indirect	By Dunlap Holdings, LLC

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock	2,009,574	Direct
Class B Common Stock	741	Direct
Class B Common Stock	5,216	Indirect	By spouse
Class B Common Stock	27,500	Indirect	By GRAT
Class B Common Stock	27,500	Indirect	By GRAT
Class B Common Stock	27,500	Indirect	By GRAT
Class B Common Stock	27,500	Indirect	By GRAT
Class B Common Stock	27,500	Indirect	By GRAT
Class B Common Stock	27,500	Indirect	By GRAT
Class B Common Stock	40,000	Indirect	By GRAT
Class B Common Stock	40,000	Indirect	By GRAT
Class B Common Stock	40,000	Indirect	By GRAT
Class B Common Stock	40,000	Indirect	By GRAT
Class B Common Stock	40,000	Indirect	By GRAT
Class B Common Stock	40,000	Indirect	By GRAT
Class B Common Stock	1,586,691	Indirect	By corporation
Class B Common Stock	889,660	Indirect	By GRAT
Class A Common Stock	4,160	Indirect	By adult son
Class A Common Stock	1,983	Indirect	By adult son
Class A Common Stock	1,215	Indirect	By adult son
Class B Common Stock	125,000	Indirect	By Dynasty Trust
Class B Common Stock	125,000	Indirect	By Dynasty Trust
Class B Common Stock	125,000	Indirect	By Dynasty Trust
Class B Common Stock	151,209	Indirect	By trust
Class B Common Stock	151,210	Indirect	By trust
Class B Common Stock	151,209	Indirect	By trust
Class B Common Stock	100	Indirect	By 2019 Dynasty Trust
Class B Common Stock	100	Indirect	By 2019 Dynasty Trust

Footnotes

All of the shares of Class B common stock of the issuer underlying this transaction are and continue to be owned, without any change in the number thereof, by Dunlap Holdings, LLC, a family limited liability company which is controlled by the reporting person and his family. This transaction reports the sales by the reporting person and his spouse of, in the aggregate, an 84.2% interest in Dunlap Holdings, LLC to the 2019 Dynasty Trusts referred to in footnotes (26) and (27) below, in exchange for promissory notes in the aggregate principal amount equal to a valuation of the transferred interests in Dunlap Holdings, LLC. The reporting person continues to report beneficial ownership of all of the shares of the issuer held by Dunlap Holdings, LLC, but disclaims beneficial ownership of the shares of the issuer held by Dunlap Holdings, LLC except to the extent of his pecuniary interest therein.
For a description of this transaction, see footnote (1) above. For purposes of this filing, the reporting person is reporting in column 4 as the price of the securities the closing market price of shares of Class A common stock of the issuer on the date of the transaction.
Shares held by Dunlap Holdings, LLC, a family limited liability company which is controlled by the reporting person and his family. The reporting person continues to report beneficial ownership of all the shares of the issuer held by Dunlap Holdings, LLC, but disclaims beneficial ownership of the shares of the issuer held by Dunlap Holdings, LLC except to the extent of his pecuniary interest therein.
Reflects the change in the form of beneficial ownership of 165,000 shares on May 12, 2020 through the contribution of a total of 165,000 shares of Class B common stock to grantor retained annuity trusts established by the reporting person on May 12, 2020, as discussed in footnotes (6) through (11) below and set forth in the line items corresponding thereto.
Reflects the change in the form of beneficial ownership of 240,000 shares on May 12, 2020 through the contribution of a total of 240,000 shares of Class B common stock to grantor retained annuity trusts established by the reporting person's spouse on May 12, 2020, as discussed in footnotes (12) through (17) below and set forth in the line items corresponding thereto.
On May 12, 2020, the reporting person contributed 27,500 shares to a Michael S. Dunlap Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
On May 12, 2020, the reporting person contributed 27,500 shares to a separate Michael S. Dunlap Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
On May 12, 2020, the reporting person contributed 27,500 shares to a separate Michael S. Dunlap Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
On May 12, 2020, the reporting person contributed 27,500 shares to a separate Michael S. Dunlap Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
On May 12, 2020, the reporting person contributed 27,500 shares to a separate Michael S. Dunlap Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
On May 12, 2020, the reporting person contributed 27,500 shares to a separate Michael S. Dunlap Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
On May 12, 2020, the reporting person's spouse contributed 40,000 shares to a Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
On May 12, 2020, the reporting person's spouse contributed 40,000 shares to a separate Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
On May 12, 2020, the reporting person's spouse contributed 40,000 shares to a separate Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
On May 12, 2020, the reporting person's spouse contributed 40,000 shares to a separate Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
On May 12, 2020, the reporting person's spouse contributed 40,000 shares to a separate Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
On May 12, 2020, the reporting person's spouse contributed 40,000 shares to a separate Grantor Retained Annuity Trust dated May 12, 2020. The reporting person continues to report 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 his pecuniary interest therein.
Shares held by Union Financial Services, Inc. ("UFS"), of which the reporting person is chairman and owns 50.0% of the outstanding capital stock. The reporting person continues to report beneficial ownership of all the shares held by UFS, but disclaims beneficial ownership of the shares held by UFS except to the extent of his pecuniary interest therein.
Shares held by the Michael S. Dunlap Class B Grantor Retained Annuity Trust dated August 28, 2003. The reporting person continues to report 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 his pecuniary interest therein.
Shares held by a Dynasty Trust established by the reporting person in 2011, of which an adult son of the reporting person is the initial beneficiary. The reporting person continues to report 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 his pecuniary interest therein.
Shares held by a separate Dynasty Trust established by the reporting person in 2011, of which an adult son of the reporting person is the initial beneficiary. The reporting person continues to report 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 his pecuniary interest therein.
Shares held by a separate Dynasty Trust established by the reporting person in 2011, of which an adult son of the reporting person is the initial beneficiary. The reporting person continues to report 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 his pecuniary interest therein.
Shares held by the Michael S. Dunlap 2011 Post Annuity Irrevocable Trust, of which an adult son of the reporting person is the beneficiary.
Shares held by a separate Michael S. Dunlap 2011 Post Annuity Irrevocable Trust, of which an adult son of the reporting person is the beneficiary.
Shares held by a separate Michael S. Dunlap 2011 Post Annuity Irrevocable Trust, of which an adult son of the reporting person is the beneficiary.
Shares held by a Dynasty Trust established by the reporting person in 2019, of which the adult sons of the reporting person and his spouse are the initial beneficiaries. The reporting person continues to report 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 his pecuniary interest therein.
Shares held by a Dynasty Trust established by the reporting person's spouse in 2019, of which the adult sons of the reporting person and his spouse are the initial beneficiaries. The reporting person continues to report 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 his pecuniary interest therein.