Nelnet director granted 185 shares at $108.37

Nelnet director Kathleen Anne Farrell received a routine stock grant of 185 Class A shares as part of director compensation, raising her direct holdings to 22,755 shares.

Available on EDGAR 09/16/2026 - 06:35 PM EDT Accepted by SEC EDGAR 09/16/2026 - 06:35 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

NELNET INC (symbol: NNI) is the issuer of record for a Form 4 filing submitted to the SEC. Farrell Kathleen Anne reported acquisition or exercise transactions in this Form 4 filing.

NELNET INC (NNI) director Kathleen Anne Farrell received an automatic equity award of 185 shares of Class A Common Stock on September 15, 2026, under the company’s Directors Stock Compensation Plan. After this grant, she directly holds 22,755 Class A shares. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Grant/Award: 185 shares

Grant/Award 1 txn

Insider Farrell Kathleen Anne

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock F1	185	$108.37	$20K

Holdings After Transaction: Class A Common Stock — 22,755 shares (Direct)

Holdings Before and After: Class A Common Stock, 22,570 to 22,755 shares (Direct)

Footnotes (1)

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

Key Figures

Shares granted: 185 shares Grant value per share: $108.37 per share Shares held after grant: 22,755 shares

3 metrics

Shares granted 185 shares Director equity award on September 15, 2026

Grant value per share $108.37 per share Value used for the September 15, 2026 stock grant

Shares held after grant 22,755 shares Direct holdings of Kathleen Anne Farrell following the reported transaction

Key Terms

Directors Stock Compensation Plan, Class A Common Stock, equity award

3 terms

Directors Stock Compensation Plan financial

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

Class A Common Stock financial

"The transaction involved Class A Common Stock of Nelnet."

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.

equity award financial

"The filing reports an equity award of shares to a director."

An equity award is a form of pay where a company gives employees, executives or other stakeholders the right to own or buy company shares—either immediately or after meeting certain conditions. Think of it like receiving slices of the company pie now or coupons to claim slices later; it matters to investors because it affects ownership dilution, executive incentives and reported compensation costs, and signals how management is being rewarded and retained.

FAQ

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

What did Nelnet (NNI) director Kathleen Anne Farrell report in this Form 4?

She reported a grant of 185 shares of Nelnet Class A Common Stock on September 15, 2026, received as part of director compensation, increasing her direct holdings to 22,755 shares.

At what price was the Kathleen Anne Farrell stock grant reported for NNI?

The 185-share grant to Kathleen Anne Farrell was reported at a value of $108.37 per share for Nelnet Class A Common Stock.

How many Nelnet (NNI) shares does Kathleen Anne Farrell own after this transaction?

After the September 15, 2026 grant, Kathleen Anne Farrell directly owns 22,755 shares of Nelnet Class A Common Stock.

Was the Nelnet (NNI) Form 4 transaction under a Rule 10b5-1 plan?

No. The filing indicates that the reported grant to Kathleen Anne Farrell was not made under a Rule 10b5-1 trading plan.

What is the nature of the Nelnet (NNI) shares granted to Kathleen Anne Farrell?

The 185 shares of Nelnet Class A Common Stock granted to Kathleen Anne Farrell were awarded under the issuer’s Directors Stock Compensation Plan as part of her service as a director.

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^*

Farrell Kathleen Anne

(Last) (First) (Middle)

C/O NELNET, INC.

121 SOUTH 13TH ST, 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)
09/15/2026

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	09/15/2026		A		185(1)	A	$108.37	22,755	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.

	/s/ Nicole M. Stawniak, Attorney-in-Fact for Kathleen A. Farrell	09/16/2026
	** 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)