Form 4: Nelnet Director Gifts Class B Shares
Insider Transaction Report
Matthew W. Dunlap, Nelnet's Director and President of NFS, reported gifting 63,126 shares of Class B Common Stock on December 1, 2025.
Summary
- Matthew W. Dunlap, a Director and President of NFS at Nelnet Inc. (NNI), reported a transaction involving the company's securities.
- On December 1, 2025, Dunlap acquired 63,126 shares of Class B Common Stock through a gift (transaction code 'G') at a price of $0 per share.
- Following this transaction, Dunlap beneficially owns 226,197 shares of Class B Common Stock directly.
- Dunlap also directly owns 13,374 shares of Class A Common Stock, which includes 27 shares acquired via the issuer's dividend reinvestment plan since July 30, 2025.
- The report clarifies that certain shares held in estate planning trusts and a family limited liability company are excluded, as Dunlap does not have or share investment, dispositive, or voting power over them.
Sentiment
Score: 5
Explanation: The filing is a routine report of an insider transaction (a gift) and does not contain information that would significantly alter the company's perceived value or outlook.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Delegation of Authority | Matthew W. Dunlap executed a Power of Attorney on August 25, 2025, appointing William J. Munn, Philip J. Morgan, Brooke N. Ward, Nicole M. Stawniak, and Audra Hoffschneider as attorneys-in-fact. This grants them authority to prepare, execute, and submit SEC filings (Forms 3, 4, 5, Schedules 13D/13G, Forms 144) on his behalf, and to obtain transaction information. | 2025-08-25 | Streamlines the process for Matthew W. Dunlap to comply with Section 13 and Section 16 reporting requirements of the Exchange Act, ensuring timely and accurate filings. |
Stakeholder Impact
- Minor change in insider beneficial ownership, which is a routine disclosure for shareholders.
Key Dates
| Date | Description |
|---|---|
| 2025-07-30 | Start date for dividend reinvestment plan shares included in Class A common stock total. |
| 2025-08-25 | Date of Power of Attorney execution by Matthew W. Dunlap. |
| 2025-12-01 | Date of reported transaction (gift of Class B Common Stock). |
| 2025-12-03 | Signature date of the Form 4 filing by attorney-in-fact. |
Keywords
Nelnet, NNI, Insider Transaction, Form 4, Stock Gift, Beneficial Ownership, Class B Common Stock, Class A Common Stock, Matthew W. Dunlap, Director, Officer
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