Form 4: Nelnet Inc. COO Terry J. Heimes Reports Tax-Related Share Disposals and Trust Transactions

Nelnet Inc.'s Chief Operating Officer, Terry J. Heimes, reported the disposal of shares to cover tax obligations and various transactions involving revocable trusts and grantor retained annuity trusts (GRATs).

Summary

• Terry J. Heimes, the Chief Operating Officer of Nelnet Inc., filed a Form 4 detailing changes in beneficial ownership of the company's Class A Common Stock.
• The filing reports multiple transactions on March 10, 2024, where shares were disposed of to cover tax obligations resulting from the vesting of previously reported grants.
• The price per share for these tax withholdings was $88.63, based on the market closing price on March 8, 2024.
• Heimes also reported holdings in various revocable trusts and grantor retained annuity trusts (GRATs) for himself and his spouse, as well as trusts for the benefit of his children.
• He disclaims beneficial ownership of shares held in these trusts, except to the extent of his pecuniary interest.
• Following the reported transactions, Heimes directly owns 26,064 shares of Class A Common Stock.
• He also indirectly owns 130,329 shares through a revocable trust, 3,617 shares through his spouse, 50,000 shares through his spouse's revocable trust, and varying amounts through GRATs and trusts for his children.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing transactions related to tax obligations and trust management, indicating a neutral sentiment.

Industry Context

This filing is a routine disclosure related to insider transactions and is required by the SEC to provide transparency to investors.

Stakeholder Impact

• The transactions reported have a minimal impact on stakeholders as they are related to tax obligations and internal trust management.

Key Dates