Nelnet director awarded 1,535-share stock grant

Graff David S reported acquisition or exercise transactions in this Form 4 filing.

Accepted by SEC EDGAR 06/17/2026 - 05:03 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Graff David S reported acquisition or exercise transactions in this Form 4 filing.

Nelnet Inc. director David S. Graff received a stock grant of 1,535 shares of Class A Common Stock on June 15, 2026. The shares were granted under the issuer's Directors Stock Compensation Plan and are reported at $110.76 per share. Following this award, Graff directly holds 31,860 shares of Nelnet Class A Common Stock. This filing reflects a compensation-related share award rather than an open-market purchase or sale.

Insider Trade Summary

Grant/Award: 1,535 shares

Grant/Award 1 txn

Insider Graff David S

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	1,535	$110.76	$170K

Holdings After Transaction: Class A Common Stock — 31,860 shares (Direct)

Holdings Before and After: Class A Common Stock, 30,325 to 31,860 shares (Direct)

Footnotes (1)

1. F1. These shares were granted pursuant to the issuer's Directors Stock Compensation Plan.

Key Figures

Stock grant size: 1,535 shares Reported price per share: $110.76 per share Shares held after transaction: 31,860 shares +2 more

5 metrics

Stock grant size 1,535 shares Class A Common Stock grant on June 15, 2026

Reported price per share $110.76 per share Value used for the 1,535-share grant

Shares held after transaction 31,860 shares David S. Graff direct Class A holdings post-grant

Acquisition transactions in filing 1 transaction Grant, award, or other acquisition code A

Buy and sell transactions 0 buys, 0 sells No open-market purchases or sales reported

Key Terms

Class A Common Stock, Directors Stock Compensation Plan, Form 4, Grant, award, or other acquisition

4 terms

Class A Common Stock financial

"David S. Graff received a stock grant of 1,535 shares of 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.

Directors Stock Compensation Plan financial

"These shares were granted pursuant to the issuer's Directors Stock Compensation Plan"

Form 4 regulatory

"This filing reflects a compensation-related share award reported in a Form 4"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Grant, award, or other acquisition regulatory

"The transaction is coded as a Grant, award, or other acquisition"

FAQ

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

What insider transaction did Nelnet (NNI) director David S. Graff report?

David S. Graff reported receiving a grant of 1,535 Nelnet Class A Common Stock shares. The award is a compensation grant under the Directors Stock Compensation Plan, not an open-market trade, and increases his directly held position in the company.

Was the Nelnet (NNI) transaction by David S. Graff a stock purchase or a grant?

The transaction was a stock grant, coded as an acquisition award, not an open-market purchase. Graff received 1,535 Class A Common Stock shares under the Directors Stock Compensation Plan as part of his director compensation, with no open-market buying reported.

At what price per share was David S. Graff’s Nelnet (NNI) stock grant reported?

The 1,535-share grant to David S. Graff was reported at $110.76 per share. This figure is the transaction price per share used for Form 4 reporting purposes and reflects the value assigned to the compensation-related stock award.

How many Nelnet (NNI) shares does David S. Graff hold after this Form 4 transaction?

After receiving the 1,535-share grant, David S. Graff holds 31,860 shares of Nelnet Class A Common Stock directly. This total includes his existing holdings plus the newly granted shares reported in the Form 4 filing.

What plan governed David S. Graff’s Nelnet (NNI) stock grant?

The stock grant was made under Nelnet’s Directors Stock Compensation Plan. The footnote states that the 1,535 Class A Common Stock shares were granted pursuant to this plan, confirming the transaction as routine director compensation rather than a discretionary market trade.

Does David S. Graff’s Nelnet (NNI) Form 4 show any stock sales or dispositions?

The Form 4 shows no stock sales or dispositions by David S. Graff. It reports a single acquisition-type transaction, a grant of 1,535 Class A Common Stock shares, increasing his direct holdings to 31,860 shares with no shares sold in this filing.

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

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SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Graff David S

(Last) (First) (Middle)

C/O NELNET, INC.

121 SOUTH 13TH STREET, SUITE 100

(Street)

LINCOLN NEBRASKA 68508

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	06/15/2026		A		1,535(1)	A	$110.76	31,860	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares were granted pursuant to the issuer's Directors Stock Compensation Plan.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

	/s/ Nicole M. Stawniak, Attorney-in-Fact for David S. Graff	06/17/2026
	** 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 4 (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 4: SEC 1474 (03-26)