Nelnet CFO James D. Kruger reports two 4,080-share gifts
Reported holdings include 72,289 shares held directly by the CFO and 10,920 shares held by his spouse.
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Form Type
4
Rhea-AI Filing Summary
Nelnet Inc. Chief Financial Officer James D. Kruger reported gift transfers of Class A common stock on October 5, 2026, as two GRATs terminated: 4,080 shares from a GRAT he established and 4,080 shares from a GRAT established by his spouse. Three trusts for his adult children each received two 1,360-share transfers. Reported holdings include 72,289 shares held directly by Kruger and 10,920 shares held by his spouse. No Rule 10b5-1 plan is reported.
Insider Trade Summary
16,320 shares gifted
Gift
12 txns
Insider
Kruger James D
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Class A Common Stock F1 | 4,080 | $0.00 | $0.00 |
| Gift | Class A Common Stock F1, F2 | 1,360 | $0.00 | $0.00 |
| Gift | Class A Common Stock F1, F3 | 1,360 | $0.00 | $0.00 |
| Gift | Class A Common Stock F1, F4 | 1,360 | $0.00 | $0.00 |
| Gift | Class A Common Stock F5 | 4,080 | $0.00 | $0.00 |
| Gift | Class A Common Stock F5, F2 | 1,360 | $0.00 | $0.00 |
| Gift | Class A Common Stock F5, F3 | 1,360 | $0.00 | $0.00 |
| Gift | Class A Common Stock F5, F4 | 1,360 | $0.00 | $0.00 |
| holding | Class A Common Stock F6 | -- | -- | -- |
| holding | Class A Common Stock F7 | -- | -- | -- |
| holding | Class A Common Stock F8 | -- | -- | -- |
| holding | Class A Common Stock F9 | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 0 shares (Indirect, By GRAT);
Class A Common Stock — 12,720 shares (Indirect, By Trust);
Class A Common Stock — 72,289 shares (Direct);
Class A Common Stock — 90,192 shares (Indirect, By revocable trust);
Class A Common Stock — 10,920 shares (Indirect, By spouse)
Footnotes (9)
- F1. Represents the transfer of shares upon the termination of a grantor retained annuity trust ("GRAT") established by the reporting person on September 1, 2021, pursuant to its terms. Prior to the termination of the GRAT, the number of Class A Common Stock held by the GRAT reflected an annuity distribution from the GRAT to the reporting person of 2,720 shares on September 24, 2026.
- F2. Shares held by a trust for the benefit of an adult son of the reporting person. 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 his pecuniary interest therein.
- F3. Shares held by a trust for the benefit of another adult son of the reporting person. 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 his pecuniary interest therein.
- F4. Shares held by a trust for the benefit of an adult daughter of the reporting person. 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 his pecuniary interest therein.
- F5. Represents the transfer of shares upon the termination of a GRAT established by the reporting person's spouse on September 1, 2021, pursuant to its terms. Prior to the termination of the GRAT, the number of Class A Common Stock held by the GRAT reflected an annuity distribution from the GRAT to the reporting person's spouse of 2,720 shares on September 24, 2026.
- F6. Includes 4,729 shares issued pursuant to the issuer's Employee Share Purchase Plan. Also includes (i) 1,000 shares held jointly with spouse and (ii) 2,720 shares distributed to the reporting person by a GRAT as discussed in footnote (1) above.
- F7. Shares held by a revocable trust established by the reporting person, of which trust the reporting person is the sole trustee and sole lifetime beneficiary.
- F8. Shares held by a revocable trust established by the reporting person's spouse, of which trust the reporting person's spouse is the sole trustee and sole lifetime beneficiary.
- F9. Includes 2,720 shares distributed to the reporting person's spouse by a GRAT as discussed in footnote (5) above.
Key Figures
Shares disposed from each GRAT: 4,080 shares
Shares acquired by each trust per transfer: 1,360 shares
Direct holdings: 72,289 shares
+1 more
4 metrics
Shares disposed from each GRAT
4,080 shares
One transfer from each of two GRATs on October 5, 2026
Shares acquired by each trust per transfer
1,360 shares
Trusts for three adult children; two transfer groups on October 5, 2026
Direct holdings
72,289 shares
Reported after the transactions on October 5, 2026
Shares held by spouse
10,920 shares
Reported on October 5, 2026
Key Terms
grantor retained annuity trust (GRAT), beneficial ownership, pecuniary interest
3 terms
grantor retained annuity trust (GRAT) financial
"termination of a grantor retained annuity trust ("GRAT") established by the reporting person"
beneficial ownership regulatory
"continues to report beneficial ownership of all the shares held by the trust"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest regulatory
"except to the extent of his pecuniary interest therein"
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