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Nelnet, Inc. (NNI) – Form 4 filed 07/21/2025
Director and >10% owner Angela L. Muhleisen reported a Code G gift of 41,250 Class A shares on 07/17/2025 at $0.00 per share. Her direct holdings fall to 972,199 shares (down c. 4%).
She continues to report ~2.23 million additional shares held indirectly through her late spouse’s estate (1.23 m) and multiple dynasty trusts/GRATs, bringing total reported beneficial ownership to roughly 3.2 million shares. The filing states that 857,353 shares held by her adult son and 869,025 shares held by her adult daughter are no longer included in her reportable holdings.
No open-market sales, purchases, or derivative transactions were disclosed; the activity appears related to estate or family wealth planning and is unlikely to affect Nelnet’s capital structure or liquidity.