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.
Nelnet Inc.'s Chief Financial Officer, James D. Kruger, reported updated holdings and a non-market gift of Class A Common Stock. The filing shows a bona fide gift of 5,000 shares on April 30, 2026, transferred indirectly through a trust for the benefit of his adult son.
After these updates, Kruger reports 69,569 shares held directly and additional indirect holdings through his spouse, revocable trusts, GRATs, and family trusts. The footnotes state he continues to report beneficial ownership of certain trust-held shares while disclaiming beneficial ownership beyond his pecuniary interest.
Nelnet, Inc. reported that its wholly owned subsidiary, Nelnet Bank, filed its quarterly Consolidated Reports of Condition and Income (FFIEC 051 Call Report) for the quarter ended March 31, 2026 with the FDIC. Public portions of this banking regulatory report are available on the FDIC’s website. The disclosure is furnished under Regulation FD and is expressly not deemed filed for liability purposes under the Exchange Act or incorporated into other securities filings unless specifically referenced.
Nelnet Inc. insider reporting shows that entities associated with Adam K. Peterson hold a significant position in the company’s Class A Common Stock, with no new buy or sell transaction reported. The Form 4 is filed as an “Exit” filing linked to his board resignation.
The filing notes that 1,668,976 shares of Class A Common Stock are directly owned by Magnolia Capital Fund, LP, whose general partner and investment manager is The Magnolia Group, LLC, managed by Mr. Peterson. Through these roles, The Magnolia Group and Mr. Peterson may be deemed to share indirect beneficial ownership of those shares.
In addition, Adam Peterson directly holds 9,544 shares of Class A Common Stock for his own account, bringing his reported total direct and indirect holdings to 1,678,520 shares following the reported position. The footnote explains that March 23, 2026 is used as the transaction date because on that day Mr. Peterson notified Nelnet of his immediate resignation from the Board of Directors, and this Form 4 is voluntarily filed to confirm he is no longer subject to Section 16 reporting.
NELNET INC executive William J. Munn, the Secretary, Chief Legal Officer, and General Counsel, reported gifting a total of 2,104 shares of Class A Common Stock on April 15, 2026. One gift of 1,052 shares reduced his direct holdings to 6,872 shares, while another 1,052-share gift involved his indirect holdings.
The indirect transaction relates to a living trust described as having Munn and his spouse as trustees and beneficiaries, which now holds 12,155 shares. Both transactions are reported as bona fide gifts at a price of $0.00 per share, meaning they were not market sales and did not generate cash proceeds.
Nelnet, Inc. is asking shareholders to vote at its May 14, 2026 annual meeting, offered in a hybrid in‑person and virtual format. Items include electing three Class III directors through 2029, ratifying KPMG LLP as auditor, approving amendments to the Directors Stock Compensation Plan, and an advisory vote on executive pay.
The company highlights a pay‑for‑performance philosophy and reports 2025 net income, excluding derivative market value adjustments, of $435.4 million, or $11.98 per share. Executive and director compensation uses cash retainers, performance‑based bonuses, and restricted stock, alongside ownership guidelines, a clawback policy, and prohibitions on hedging and short sales. Executive Chairman Michael S. Dunlap beneficially holds 77.1% of combined voting power, giving him effective control of board elections.
Nelnet, Inc. entered into a new $435 million unsecured line of credit with a syndicate of banks led by U.S. Bank National Association as Administrative Agent. The facility initially has a zero balance and the full $435 million is available for general corporate purposes.
The credit agreement matures on March 31, 2031 and includes financial covenants tied to minimum consolidated net worth, an adjusted EBITDA-to-recourse indebtedness ratio, limits on recourse indebtedness and permitted investments, and an asset quality test for non-FFELP loans. Certain subsidiaries guarantee the obligations.
In connection with this new facility, Nelnet terminated its prior $495 million unsecured line of credit dated September 22, 2021, which had a scheduled maturity of September 22, 2026 and no outstanding balance at termination.
Nelnet Inc. insider Adam K. Peterson converted 9,544 phantom stock units into 9,544 shares of Class A Common Stock. These phantom shares were granted under the issuer's Directors Stock Compensation Plan and became payable in stock when he resigned from the Board of Directors on March 23, 2026.
Following the conversion and related exercise, Peterson is reported as having 1,678,520 shares of Class A Common Stock, including 1,668,976 shares directly owned by Magnolia Capital Fund, LP, where The Magnolia Group, LLC is general partner and investment manager and Peterson is the managing member.
The Vanguard Group filed Amendment No. 1 to a Schedule 13G/A reporting its holdings in Nelnet Inc. The amendment states 0 shares beneficially owned, representing 0% of the class, following an internal realignment described in SEC Release No. 34-39538 dated January 12, 2026. The filing is signed by Ashley Grim on 03/27/2026.
The disclosure explains certain Vanguard subsidiaries will report beneficial ownership separately after the realignment; the filing lists the issuer address as 121 S 13th St, Lincoln, NE.
Nelnet, Inc. reported that director Adam Peterson resigned from its Board of Directors effective immediately on March 23, 2026. The company states his decision was due to business and personal reasons and was not the result of any disagreement over operations, policies, or practices. The Board and management publicly thanked Peterson for his dedicated service and significant contributions during his tenure.