NNI insider files Form 144 for $1.06M stock sale on NYSE

Rhea-AI Filing Summary

Nelnet, Inc. (NNI) filed a Rule 144 notice reporting a proposed sale of 8,196 common shares through Fidelity Brokerage Services on the NYSE, with an aggregate market value of $1,056,218.52. The filing lists the approximate sale date as 09/05/2025 and shows 25,515,182 shares outstanding, meaning the proposed sale represents roughly 0.032% of outstanding common shares.

The shares were acquired in the issuer's IPO on 02/13/2004 and no securities of the issuer were reported sold by this person in the past three months. The notice includes the standard Rule 144 representation that the seller does not possess undisclosed material adverse information and identifies Fidelity Brokerage Services LLC as the executing broker.

Positive

• Regulatory compliance: The filer submitted a live Rule 144 notice with required attestations.
• Long-held shares: The securities were acquired in the company's IPO on 02/13/2004, indicating a long-term holding period.

Negative

• Insider sale proposed: The person proposes to sell $1,056,218.52 worth of common stock, which could be viewed negatively by some market participants despite small percentage of outstanding shares.

Insights

Securities Analyst

TL;DR: Routine Rule 144 notice: a long-held insider position of 8,196 shares is proposed for sale; size is immaterial to outstanding shares.

The filing documents a proposed sale under Rule 144 of 8,196 common shares valued at $1,056,218.52, scheduled approximately for 09/05/2025, executed through Fidelity Brokerage Services on the NYSE. The shares were acquired at the issuer IPO on 02/13/2004. Relative to the reported 25,515,182 shares outstanding, the transaction is immaterial on a percentage basis (~0.032%). From a market-impact perspective, the volume is unlikely to move trading materially. The filing fulfills regulatory disclosure requirements and contains the seller's Rule 144 representation regarding material nonpublic information.

Corporate Governance Expert

TL;DR: Governance disclosure appears compliant; sale involves long-held IPO shares and includes required seller attestations.

The notice shows the seller acquired the securities in the issuer's IPO on 02/13/2004 and is relying on Rule 144 for the proposed sale. The form includes the required attestations about lack of undisclosed material adverse information and indicates no sales by the person in the prior three months. The use of a major broker (Fidelity) and the clear timing and quantity information are consistent with standard insider-transaction disclosure practices under securities laws.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 245 Summer Street Boston MA 02110	8196	1056218.52	25515182	09/05/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	02/13/2004	IPO shares	Issuer			8196	02/13/2004	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Nelnet's (NNI) Form 144 report?

The Form 144 reports a proposed sale of 8,196 common shares via Fidelity Brokerage Services on the NYSE with an aggregate market value of $1,056,218.52 and an approximate sale date of 09/05/2025.

How many Nelnet shares are outstanding per the filing?

The filing lists 25,515,182 shares outstanding.

When were the shares being sold acquired?

The shares were acquired in the issuer's IPO on 02/13/2004.

Does the filer report any sales in the past three months?

No. The filing states Nothing to Report for securities sold during the past three months.

Which broker is named for the proposed sale?

The broker named is Fidelity Brokerage Services LLC, 245 Summer Street, Boston, MA 02110.

What attestations does the seller make on Form 144?

The seller represents by signing that they do not know any material adverse information about the issuer that has not been publicly disclosed and, if relying on a Rule 10b5-1 plan, would indicate the plan adoption date.