SEC Form 4 · accession 0001008886-26-000221
NELNET INC · NNI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kimberly Kay Rath
Director
Period of report
Sep 15, 2026
Accepted (ET)
Sep 16, 2026 · 6:39 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001258602
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF3,F1,F2 | — | Sep 15, 2026 | A | 93 | A | — | — | Class A Common Stock | 93 | 65,491 | D |
Explanation of responses
- F11-for-1.
- F2The shares of phantom stock were granted pursuant to the issuer's Directors Stock Compensation Plan. They will become payable in shares of Class A Common Stock promptly after the time of termination of the reporting person's service as a member of the issuer's Board of Directors. The shares will be payable in a lump sum promptly after the time of termination of the reporting person's service as a member of the issuer's Board, or in up to five annual installments, commencing promptly after the time of termination of the reporting person's service on the issuer's Board, as elected by the reporting person.
- F3Includes a total of 169 shares acquired since June 17, 2026 pursuant to the dividend reinvestment feature of the issuer's Directors Stock Compensation Plan.