Nelnet officer reports 25,986 Class A shares

NELNET INC filed an initial ownership report for Joseph Ernest Popevis, President of NDS, showing his existing equity stake rather than any new trade.

Accepted by SEC EDGAR 05/19/2026 - 04:25 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

NELNET INC filed an initial ownership report for Joseph Ernest Popevis, President of NDS, showing his existing equity stake rather than any new trade. He directly holds 25,986 shares of Class A Common Stock. This includes 7,154 restricted shares granted under the company’s Restricted Stock Plan, which vest in stages through March 10, 2031.

Insider Trade Summary

Holdings reported, no transactions

Holdings

Insider Popevis Joseph Ernest

Role President, NDS

Type	Security	Shares	Price	Value
Holding	Class A Common Stock	--	--	--

Holdings: Class A Common Stock — 25,986 shares (Direct)

Footnotes (1)

1. F1. Includes 7,154 restricted shares that were awarded under the issuer's Restricted Stock Plan. The shares vest over a five-year period, with 2,240 vesting March 10, 2027, 1,758 vesting March 10, 2028, 1,318 vesting March 10, 2029, 1,086 vesting March 10, 2030, and 752 vesting on March 10, 2031.

Key Figures

Total Class A shares held: 25,986 shares Restricted shares included: 7,154 shares Vesting tranche 1: 2,240 shares +4 more

7 metrics

Total Class A shares held 25,986 shares Direct ownership reported on Form 3

Restricted shares included 7,154 shares Awarded under Restricted Stock Plan

Vesting tranche 1 2,240 shares Vesting on March 10, 2027

Vesting tranche 2 1,758 shares Vesting on March 10, 2028

Vesting tranche 3 1,318 shares Vesting on March 10, 2029

Vesting tranche 4 1,086 shares Vesting on March 10, 2030

Vesting tranche 5 752 shares Vesting on March 10, 2031

Key Terms

Restricted Stock Plan, restricted shares, Class A Common Stock, Form 3

4 terms

Restricted Stock Plan financial

"restricted shares that were awarded under the issuer's Restricted Stock Plan"

A restricted stock plan is a program where a company grants employees or executives shares that are held back until certain conditions are met, such as staying with the company for a set period or hitting performance goals. Think of it like a reward that unlocks over time; for investors it matters because these grants can dilute existing ownership when they vest and signal management’s incentives and confidence in future performance.

restricted shares financial

"Includes 7,154 restricted shares that were awarded under the issuer's Restricted Stock Plan"

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

Class A Common Stock financial

"security_title: "Class A Common Stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Form 3 regulatory

"INSIDER FILING DATA (Form 3)"

Form 3 is the initial public filing that officers, directors and large shareholders must submit to report their ownership of a company’s securities when they become insiders. It acts like an opening inventory sheet that gives investors a starting point to see who holds significant stakes and to spot later trades or potential conflicts of interest, helping assess insider confidence and transparency.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Joseph Ernest Popevis’s Form 3 filing for NELNET INC (NNI) show?

The Form 3 shows Joseph Ernest Popevis’s existing holdings in NELNET INC. He directly owns 25,986 Class A shares, including 7,154 restricted shares awarded under the company’s Restricted Stock Plan that vest gradually through March 10, 2031.

Did Joseph Ernest Popevis buy or sell NELNET INC (NNI) shares in this Form 3?

This Form 3 does not report any new purchases or sales. It is an initial ownership statement listing Popevis’s current Class A share holdings and restricted stock awards rather than recording a transaction in the company’s stock.

How many NELNET INC (NNI) shares does Joseph Ernest Popevis hold?

Joseph Ernest Popevis is reported to hold 25,986 shares of NELNET INC Class A Common Stock. This figure includes both unrestricted and restricted shares, with 7,154 shares specifically identified as restricted stock subject to future vesting dates.

What restricted stock awards does Joseph Ernest Popevis have at NELNET INC (NNI)?

Popevis has 7,154 restricted shares under NELNET INC’s Restricted Stock Plan. These vest over five years: 2,240 on March 10, 2027, 1,758 on March 10, 2028, 1,318 on March 10, 2029, 1,086 on March 10, 2030, and 752 on March 10, 2031.

What is Joseph Ernest Popevis’s role at NELNET INC (NNI) in this Form 3?

In this Form 3, Joseph Ernest Popevis is identified as an officer of NELNET INC, serving as President of NDS. The filing links his officer role to his reported direct ownership of Class A Common Stock and restricted stock awards.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Popevis Joseph Ernest

(Last) (First) (Middle)

121 SOUTH 13TH STREET

SUITE 100

(Street)

LINCOLN NEBRASKA 68508

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
05/14/2026

3. Issuer Name and Ticker or Trading Symbol
NELNET INC [ NNI ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, NDS

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	25,986(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 7,154 restricted shares that were awarded under the issuer's Restricted Stock Plan. The shares vest over a five-year period, with 2,240 vesting March 10, 2027, 1,758 vesting March 10, 2028, 1,318 vesting March 10, 2029, 1,086 vesting March 10, 2030, and 752 vesting on March 10, 2031.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

	/s/ Nicole M. Stawniak, Attorney-in-Fact for Joseph Ernest Popevis	05/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)