Home > Insider Trading > Filing (0001437749-21-014637)

Filing Details

Accession Number:: 0001437749-21-014637
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-06-11 18:58:07
Reporting Period:: 2021-06-09

Accepted Time:: 2021-06-11 18:58:07
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
1808121	J Shelby Butterfield	C/O Nelnet, Inc. 121 South 13Th Street, Suite 100 Lincoln NE 68508		No	No	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	2021-06-09	100,000	$0.00	407,370	No	4	C	Indirect	By Butterfield GST Non-Exempt Marital Trust
Class A Common Stock	Acquisiton	2021-06-09	100,000	$0.00	100,510	No	4	C	Indirect	By Butterfield GST Non-Exempt Marital Trust
Class A Common Stock	Disposition	2021-06-09	5,000	$74.72	95,510	No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust
Class A Common Stock	Disposition	2021-06-10	5,000	$74.63	90,510	No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust
Class A Common Stock	Disposition	2021-06-11	1,548	$74.46	88,962	No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust
Class A Common Stock	Disposition	2021-06-11	544	$75.26	88,418	No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust
Class A Common Stock	Disposition	2021-06-11	732	$76.29	87,686	No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust
Class A Common Stock	Disposition	2021-06-11	2,176	$77.17	85,510	No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	By Butterfield GST Non-Exempt Marital Trust
No	4	C	Indirect	By Butterfield GST Non-Exempt Marital Trust
No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust
No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust
No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust
No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust
No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust
No	4	S	Indirect	By Butterfield GST Non-Exempt Marital Trust

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class B Common Stock	210,047	Indirect	By Butterfield GST Exempt Marital Trust
Class B Common Stock	136,641	Direct
Class B Common Stock	1,586,691	Indirect	By corporation
Class B Common Stock	100,000	Indirect	By GRAT
Class B Common Stock	98,079	Indirect	By GRAT
Class B Common Stock	87,141	Indirect	By GRAT
Class B Common Stock	73,759	Indirect	By GRAT
Class B Common Stock	83,186	Indirect	By GRAT
Class B Common Stock	87,876	Indirect	By GRAT
Class B Common Stock	73,502	Indirect	By GRAT
Class B Common Stock	86,845	Indirect	By GRAT
Class B Common Stock	13,533	Indirect	By trust
Class B Common Stock	13,534	Indirect	By trust
Class B Common Stock	38,291	Indirect	By CLAT
Class B Common Stock	29,967	Indirect	By the Estate of Stephen F. Butterfield
Class B Common Stock	50,325	Indirect	By trust
Class B Common Stock	50,325	Indirect	By trust
Class B Common Stock	18,394	Indirect	By trust
Class B Common Stock	18,394	Indirect	By trust
Class B Common Stock	100	Indirect	By the reporting person as UTMA custodian for daughter
Class B Common Stock	100	Indirect	By the reporting person as UTMA custodian for son

Footnotes

Shares of the issuer's Class B common stock are convertible at a fixed one-for-one ratio into an equal number of shares of the issuer's Class A common stock at any time at the holder's option. On June 9, 2021, the Stephen F. Butterfield GST Non-Exempt Marital Trust converted 100,000 shares of Class B common stock into 100,000 shares of Class A common stock. Such conversion of convertible common stock at a fixed ratio was exempt from Section 16(b) under Rule 16-6(b).
Shares held by the Stephen F. Butterfield GST Non-Exempt Marital Trust (the "Butterfield GST Non-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.
These shares were sold by the Butterfield GST Non-Exempt Marital Trust pursuant to a Rule 10b5-1 Trading Plan adopted by such trust on June 3, 2021 for purposes of meeting long-term estate planning and diversification objectives of such trust.
Rule 10b5-1, promulgated under the Securities Exchange Act of 1934, allows significant shareholders of a company who are not in possession of material non-public information to establish pre-arranged plans to buy, sell, or otherwise transfer a specified number of shares of such company's stock. Once a plan is established, the shareholder does not retain or exercise any discretion over transfers of stock under the plan and the pre-planned trades may be executed at later dates as set forth in the plan.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.37 to $75.14, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (5), (6), (7), (8), (9) and (10) to this Form 4.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.24 to $74.95, inclusive.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $73.82 to $74.75, inclusive.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.82 to $75.81, inclusive.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.84 to $76.80, inclusive.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $76.89 to $77.62, inclusive.
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.
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.
Shares held by a grantor retained annuity trust ("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.
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.
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.
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.
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.
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.
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.
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.
Shares held by a trust for the benefit of the reporting person's daughter established under the restated agreement for the Stephen F. Butterfield Revocable Living Trust, which became irrevocable upon the passing of Mr. Butterfield on April 16, 2018.
Shares held by a trust for the benefit of the reporting person's son established under the restated agreement for the Stephen F. Butterfield Revocable Living Trust, which became irrevocable upon the passing of Mr. Butterfield on April 16, 2018.
Shares held by a charitable lead annuity trust ("CLAT") established by Stephen F. Butterfield, of which CLAT the descendants of the reporting person are included as remainder 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 her pecuniary interest therein.
Shares held by the Estate of Stephen F. Butterfield (the "Butterfield Estate"), for which the reporting person is the personal representative. The reporting person disclaims beneficial ownership of the shares held by the Butterfield Estate, except to the extend of her pecuniary interest therein.
Shares held by a trust, of which the daughter of the reporting person is the beneficiary.
Shares held by a trust, of which the son of the reporting person is the beneficiary.
Shares held by a trust for the benefit of the reporting person's daughter.
Shares held by a trust for the benefit of the reporting person's son.