Nelnet, Inc. filings document operating results, subsidiary banking disclosures, governance matters, and financing arrangements for a company active in loan servicing, loan asset management, education technology, payment services, and Nelnet Bank. Its 8-K reports furnish quarterly earnings materials, Regulation FD disclosures for Nelnet Bank Call Reports, material agreements, and board-level changes.
Proxy materials describe director elections, executive compensation, equity awards, shareholder voting matters, and board governance. Financing disclosures include credit agreements, subsidiary guarantees, borrowing covenants, recourse indebtedness limits, and asset quality tests tied to non-FFELP loans held by the company and its consolidated subsidiaries.
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.
HENNING THOMAS EDWARD reported acquisition or exercise transactions in this Form 4 filing.
Nelnet Inc. director Thomas Edward Henning reported updated equity holdings and a new compensation grant. He received 1,738 phantom stock units at $110.76 per unit under the Directors Stock Compensation Plan, convertible 1-for-1 into Class A Common Stock after his board service ends, either in a lump sum or up to five annual installments.
Following this grant, he holds 59,312 phantom stock units, 11,058 Class A shares directly, and small indirect positions of 13 shares in his IRA and 8 shares in his spouse’s IRA. The filing notes these IRA holdings, including 574 shares accumulated via dividend reinvestment since June 18, 2025, were previously omitted from Section 16 reports.
NELNET INC director and executive Matthew W. Dunlap reported a small, routine tax-withholding transaction related to vesting equity awards. On the reported date, 15 shares of Class A Common Stock were withheld by the issuer at a per-share value of $130.72 to satisfy his tax obligation from the vesting of a previously granted share award under Rule 16b-3(d). This was not an open-market sale.
After this tax-withholding disposition, Dunlap directly holds 17,054 shares of Class A Common Stock and 226,197 shares of Class B Common Stock, indicating the transaction affected only a very small portion of his overall position.
Nelnet, Inc. received an amended Schedule 13D from Magnolia Capital Fund, The Magnolia Group, and Adam K. Peterson updating their ownership and recent activity in the company’s Class A common stock. The reporting persons collectively beneficially own 1,502,703 shares, or about 5.9% of the 25,317,348 shares outstanding.
Magnolia Capital Fund distributed in-kind 76,401 and 99,426 shares to withdrawing limited partners on May 13 and May 14, 2026, reducing its reported holdings by 175,827 shares. Adam Peterson also notified Nelnet on March 23, 2026 of his immediate resignation from the Board of Directors, while the group indicates it may buy or sell additional shares in the future based on investment considerations.
Nelnet, Inc. Schedule 13G reports that Magnolia Capital Fund, LP and related parties beneficially hold 1,493,149 shares of Class A common stock and that Adam K. Peterson is shown with 1,502,703 shares, each representing 5.9% of the class. The filing states that The Magnolia Group, LLC is the general partner of Magnolia Capital Fund and that Mr. Peterson is the managing member; TMG and Mr. Peterson disclaim beneficial ownership while the filing is jointly submitted. The document includes a Joint Filing Agreement dated 06/05/2026.
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.
Nelnet, Inc. reported the results of its 2026 annual shareholder meeting held on May 14, 2026. Shareholders elected three Class III directors — Kathleen A. Farrell, David S. Graff, and Thomas E. Henning — to serve until the 2029 annual meeting.
Shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for the year ending December 31, 2026, with 125,269,425 votes in favor. They also approved amendments to the Directors Stock Compensation Plan to include directors of Nelnet Bank Inc. and its successors, and supported, on an advisory basis, the compensation of the company’s named executive officers as disclosed in the proxy statement.
Whitetail Rock Capital Management, LLC reports beneficial ownership of 6,881,976 shares of Nelnet, Inc. Class A common stock, representing 21.6% of the class. The filing states shared voting and dispositive power over 402,205 Class A shares and 6,479,771 Class B shares (convertible into Class A).
The shares are held through multiple grantor retained annuity trusts and related trusts (the "Trusts") and indirectly through Union Financial Services, Inc., which holds 1,586,691 Class B shares. Ownership is reported under Rule 13d-3 and the reporting person is an investment adviser serving the Trusts.
Nelnet, Inc. reported net income attributable to shareholders of $71.1 million for the quarter ended March 31, 2026, down from $82.6 million a year earlier, or $1.97 per diluted share versus $2.26. Net interest income rose to $101.6 million, but the provision for loan losses increased sharply to $53.2 million from $15.3 million, largely tied to growth in consumer and Pay Later receivables. Fee-based revenue remained a major driver, with loan servicing and systems revenue of $127.8 million and education technology services and payments revenue of $154.4 million. The company acquired Canadian servicer NDS Canada for about $105.8 million, adding $69.1 million of intangible assets and $47.0 million of goodwill. Nelnet Bank continued to expand, with deposits of $1.74 billion and loans of $1.26 billion. Management highlighted non-GAAP net income excluding derivative market value adjustments of $69.9 million, or $1.94 per share, versus $87.4 million, or $2.39, in the prior-year quarter.
Nelnet, Inc. reported first quarter 2026 GAAP net income of $71.1 million, or $1.97 per share, compared with $82.6 million, or $2.26 per share, a year earlier. Net income excluding derivative market value adjustments was $69.9 million, or $1.94 per share, versus $87.4 million, or $2.39 per share, in 2025.
The Asset Generation and Management segment generated $67.5 million of loan and investment net interest income and closed the quarter with $766.2 million of Pay Later receivables after acquiring $3.34 billion of loans. Nelnet Bank earned $7.1 million of net income after tax on growing loan and deposit balances.
Loan Servicing and Systems revenue rose to $127.8 million, aided by the NDS Canada acquisition, while Education Technology Services and Payments revenue reached $154.4 million with net income of $36.3 million. The board declared a $0.33 per share second-quarter cash dividend, payable June 15, 2026 to shareholders of record on June 1, 2026.