Welcome to our dedicated page for Nelnet SEC filings (Ticker: NNI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to Nelnet, Inc. (NYSE: NNI) SEC filings, giving investors and researchers a primary source for the company’s regulatory disclosures. As a Nebraska-incorporated public company, Nelnet files current reports on Form 8-K, periodic reports, and other documents under the Securities Exchange Act of 1934.
Recent 8-K filings referenced in company communications include earnings releases for quarters ended June 30 and September 30, 2025, which present GAAP and non-GAAP results and segment performance for Asset Generation and Management, Nelnet Bank, Loan Servicing and Systems, and Education Technology Services and Payments. Other 8-Ks describe material events such as gains on equity investments and the agreement, through Nelnet Canada, Inc., to acquire Finastra’s Canadian student loan servicing business.
Nelnet also uses 8-K filings to note when Nelnet Bank submits its Consolidated Reports of Condition and Income (Call Reports) to the FDIC, directing readers to the FDIC’s public website for those banking regulatory documents. These filings help users understand Nelnet Bank’s asset, loan, and deposit profiles and how they relate to the broader Nelnet Financial Services division.
On Stock Titan, SEC documents for NNI are paired with AI-powered summaries that explain the key points of lengthy filings, such as earnings releases and other current reports. Users can quickly see what changed, which segments drove results, and how specific transactions or provisions affected reported figures, while still having access to the full original filings for detailed review.
For those tracking Nelnet’s governance, capital allocation, or risk disclosures, this page is a central location to review the company’s official SEC-reported information alongside concise AI-generated highlights.
Nelnet, Inc. reported that Tim Tewes, its President and the Chief Executive Officer of subsidiary Nelnet Business Services, has informed the company he plans to retire effective June 30, 2026. The company states that after retiring from his executive roles, Mr. Tewes will remain involved as a member of the Nelnet Bank Board of Directors, providing continued leadership at the bank level. Nelnet also furnished a press release announcing his planned retirement as Exhibit 99.1, noting that this information is being provided for disclosure purposes and is not deemed filed under certain Exchange Act provisions.
Nelnet, Inc. director Jona M. Van Deun reported a small open-market sale of company stock. On 12/09/2025, she sold 400 shares of Nelnet Class A common stock at a price of $128.95 per share, coded as a sale transaction.
After this trade, she beneficially owns 704 shares of Class A common stock in direct form. The filing notes that this transaction was carried out under a pre-arranged Rule 10b5-1 trading plan that she entered into on September 9, 2025, which is designed to allow insiders to sell shares according to a set schedule.
Navigant? (symbol NNI) has an insider filing a notice on Form 144 to sell common stock under Rule 144. The filer plans to sell 400 shares of common stock through Fidelity Brokerage Services LLC on the NYSE, with an aggregate market value of $51,580.00 based on the price at the time of the notice. The issuer has 25,316,448 shares of common stock outstanding, which provides context for the size of this proposed sale.
The 400 shares being sold were acquired on June 16, 2025 through restricted stock unit (RSU) vesting from the issuer, with the same date listed for payment and the nature of payment shown as “N/A,” indicating no separate cash purchase. The form also includes a standard representation that the selling person does not know of any material adverse, non-public information about the issuer's operations.
Nelnet Inc. insider activity shows a significant share transfer. Reporting person Matthew W. Dunlap, a director and President of NFS at Nelnet Inc. (NNI), reported a transaction dated 12/01/2025 involving Class B common stock with transaction code G, indicating a bona fide gift. He acquired 63,126 shares of Class B common stock at a reported price of $0, bringing his direct beneficial ownership of Class B shares to 226,197. He also directly holds 13,374 shares of Class A common stock, which includes 27 Class A shares acquired through the company’s dividend reinvestment plan since July 30, 2025. The report notes that certain shares held in estate planning trusts and a family limited liability company are excluded because he is not deemed to beneficially own them for Section 16(a) purposes.
Nelnet Inc’s executive chairman Michael S. Dunlap, who is also a director and 10% owner, reports his indirect holdings of the company’s Class B Common Stock as of a December 1, 2025 transaction date. The report shows 1,586,691 Class B shares held through Union Financial Services, Inc., where he is president and a 50% stockholder, and 1,600,000 Class B shares held by Dunlap Holdings, LLC, a family-controlled entity. Additional Class B shares are held through multiple 2011 grantor retained annuity trusts and dynasty trusts for the benefit of his adult sons and family members. For each entity, Dunlap states that he continues to report beneficial ownership of all shares but disclaims beneficial ownership except to the extent of his pecuniary interest. This filing is the second of two submitted to cover all December 1, 2025 transfers.
Nelnet Inc. insider Michael S. Dunlap, Executive Chairman and a 10% owner, reported several internal transfers of Class B Common Stock on December 1, 2025. The filing shows gifts and trust-related movements at a reported price of $0 per share, reflecting estate and trust planning rather than open‑market trades.
According to the footnotes, one Grantor Retained Annuity Trust that terminated on October 13, 2015 transferred 268,480 Class B shares to multiple 2015 post‑annuity irrevocable trusts and 33,560 shares to an adult son. A separate terminating Grantor Retained Annuity Trust dated the same day transferred 236,526 Class B shares to additional 2015 post‑annuity irrevocable trusts and 29,566 shares to an adult son.
Dunlap continues to report beneficial ownership of shares held by the various trusts and Grantor Retained Annuity Trusts, but in each case disclaims beneficial ownership except to the extent of his pecuniary interest. This Form 4 is the first of two related filings, with the second covering additional holdings not accommodated in this table.
Nelnet Inc. (NNI) executive Michael S. Dunlap, who serves as Executive Chairman of the Board, director, and 10% owner, filed a Form 4 updating his indirect holdings of Class B Common Stock as of a transaction date of 11/19/2025. This filing is identified as the second of two forms used to report a gift of shares on that date and was needed because of limits on the number of line items allowed per table.
The report lists substantial indirect beneficial ownership, including 1,586,691 shares of Class B Common Stock held by Union Financial Services, Inc., where Dunlap is president and owns 50% of the capital stock. Additional indirect holdings are reported through multiple 2011 and 2015 post-annuity irrevocable trusts and two 2019 dynasty trusts, with individual trust positions such as 240,025, 353,417, 67,439, and 44,773 Class B shares, plus two dynasty trusts holding 100 shares each. For each entity, Dunlap reports beneficial ownership but formally disclaims it beyond his pecuniary interest.
Nelnet Inc. (NNI)35,000 shares of Class A common stock on November 19, 2025, recorded at a price of
After this transaction, Dunlap directly holds 1,382,982 shares of Class A common stock. He also reports extensive indirect beneficial ownership of Class B common stock through his spouse, multiple grantor retained annuity trusts, several irrevocable and post-annuity trusts for adult sons, a family limited liability company (Dunlap Holdings, LLC) holding 1,600,000 Class B shares, and multiple Dynasty Trusts each holding 125,000 Class B shares, while disclaiming beneficial ownership beyond his pecuniary interest.
Nelnet (NNI): Michael S. Dunlap filed Amendment No. 18 to Schedule 13D updating beneficial ownership. He may be deemed to beneficially own 13,387,235 shares of Class A common stock on an as-converted basis, representing 37.8% of the Class A outstanding. He has sole voting and dispositive power over 2,538,385 shares and shared voting and dispositive power over 10,848,850 shares.
Union Financial Services, Inc. is deemed to beneficially own 1,586,691 shares of Class A on an as-converted basis (5.9%). Dunlap Holdings, LLC is deemed to beneficially own 1,600,000 shares of Class A on an as-converted basis (5.9%). The filing notes changes primarily reflect trust-related distributions, transfers, and conversions, while UFS and Dunlap Holdings report no acquisitions or dispositions since the prior amendment. Class B shares are convertible into Class A and carry ten votes per share.
Nelnet, Inc. received an amended Schedule 13G/A (Amendment No. 21) from Angela L. Muhleisen, reporting beneficial ownership tied to the company’s equity as of 09/30/2025.
Muhleisen reports beneficial ownership of 4,683,900 shares, representing 18.1% of the class. This includes 2,191,180 shares with sole voting and dispositive power and 2,492,720 shares with shared voting and dispositive power. The shared amount reflects holdings across various trusts and accounts, and includes 582,972 shares of Class B common stock that are convertible into the same number of Class A shares at any time. Each Class A share has one vote and each Class B share has ten votes.
The filing details multiple trusts and accounts at Union Bank and Trust Company and notes that certain large accounts of adult children effective November 10, 2025 are not included in shared power. The reporting person disclaims beneficial ownership beyond actual voting or investment power.
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