Form 4: Nelnet CEO Jeffrey Noordhoek Reports Tax-Related Share Disposals and Trust Holdings
SEC Form 4 Filing
Nelnet CEO Jeffrey R. Noordhoek reported the disposal of shares to cover tax obligations and disclosed holdings through various trusts.
Summary
- Jeffrey R. Noordhoek, CEO of Nelnet Inc., filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the disposal of Class A Common Stock to cover tax obligations resulting from the vesting of previously reported shares.
- These disposals occurred on March 10, 2024, with a per-share value of $88.63.
- A total of 791, 356 and 322 shares were disposed of for tax purposes.
- Noordhoek also reported holdings of Class A Common Stock through several trusts, including The Jeffrey R. Noordhoek Amended and Restated Revocable Trust (311,008 shares), the Jeffrey Noordhoek Post Annuity Irrevocable Trust (126,462 shares), and The Noordhoek Charitable Remainder Unitrust I (11,861 shares).
- The report includes 5,123 shares issued pursuant to the issuer's Employee Share Purchase Plan, which number of shares reflects the acquisition of a total of 14 shares under the issuer's Employee Share Purchase Plan since March 14, 2023.
- Also includes 773 shares distributed to the reporting person by The Noordhoek Charitable Remainder Unitrust I on December 29, 2023.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing share transactions. It doesn't convey any particularly positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing is specific to the CEO's transactions and holdings and doesn't necessarily reflect broader industry trends.
Stakeholder Impact
- Shareholders may be interested in the CEO's transactions, but the tax-related disposals are unlikely to have a significant impact.
- The disclosure provides transparency regarding the CEO's holdings, which can influence investor confidence.
Key Dates
| Date | Description |
|---|---|
| 08/29/2003 | Date of Jeffrey Noordhoek Post Annuity Irrevocable Trust |
| 08/09/2016 | Date of The Jeffrey R. Noordhoek Amended and Restated Revocable Trust |
| 03/14/2023 | Start date for tracking shares acquired under the Employee Share Purchase Plan |
| 12/29/2023 | Date of distribution of 773 shares from The Noordhoek Charitable Remainder Unitrust I |
| 03/08/2024 | Date used to determine per share value assigned by the issuer to the tax withholding shares |
| 03/10/2024 | Date of share disposals for tax obligations |
| 03/12/2024 | Date of Form 4 filing |
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