Form 4 for NNI NELNET INC

Accepted 2025-06-10 00:00:00 ET · period of report 2025-06-09 · accession 0001398344-25-011713 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
	2025-06-10	2025-06-09	NNI	MAGNOLIA CAPITAL FUND, LP	(See remarks)	J - Other	$0.00	-231.0K	1.68M	-12%	$0

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Class A Common Stock, Par Value $0.01 per Share	2025-06-09	J	D	231,024	$0.00	1,676,487	D	—	—	(F5) MCF may be deemed the beneficial owner of 1,668,976 shares of Common Stock that it holds. TMG may be deemed the beneficial owner of 1,668,976 shares of Common Stock that it holds. Mr. Peterson may be deemed the beneficial owner of 1,676,487 shares of Common Stock, including the 7,511 shares of Phantom Stock that he holds directly and he holds interest in MCF and TMG. (F2) TMG and Mr. Peterson disclaim beneficial ownership with respect to the shares reported indirectly except to the extent of their respective pecuniary interests therein, and this report shall not be deemed an admission of beneficial ownership of these securities for Section 16 or for any other purposes. (F3) Mr. Peterson serves on the Board of Directors of the Issuer. (F1) The reported shares are directly owned by Adam K. Peterson ("Mr. Peterson"), The Magnolia Group, LLC ("TMG") and Magnolia Capital Fund ("MCF"). TMG is the general partner and investment manager of MCF. Mr. Peterson is the managing member of TMG. TMG and Mr. Peterson could both be deemed to share indirect beneficial ownership of the shares reported herein for those reporting persons.