Tewes Timothy 4

What Happened

• Timothy Tewes, President of Nelnet, received two stock awards on March 10, 2026: 7,527 restricted shares (vesting tranche) and 8,656 shares as his 2025 performance-based bonus (total 16,183 shares at $0.00).
• To satisfy tax withholding obligations, Nelnet withheld/disposed a total of 5,307 shares (794, 356, 322, 135 and 3,700 share lots) at per-share values of $131.23 and $132.87, with total value of the withheld shares reported as $702,506. The net increase in shares from these actions is roughly +10,876 shares (16,183 awarded − 5,307 withheld).
• These disposals were tax-withholding (code F), not open-market sales.

Key Details

• Transaction date: March 10, 2026; Form 4 filed March 12, 2026 (appears timely).
• Awards: 7,527 restricted shares (vesting schedule: one-fifth vests annually on March 10) and 8,656 bonus shares (performance-based for 2025).
• Withheld/disposed shares: 5,307 total — 4 lots valued at $131.23/share and 1 lot of 3,700 shares at $132.87/share; total value ≈ $702,506.
• Net effect: approximately +10,876 shares added to Tewes’s holdings after tax withholding.
• Notes: issuer used a net share settlement/tax-withholding arrangement to satisfy tax obligations; per-share values were assigned by the issuer based on market prices (footnotes reference March 10 close and an average for Feb 27–Mar 5).
• Shares owned after transaction: not explicitly stated in the reported sections provided; filing notes prior holdings include 1,492 ESPP shares and 98 shares from dividend reinvestment since March 12, 2025.

Context

• These transactions reflect stock awards and routine tax-withholding rather than an open-market purchase or sale. Withheld shares were used to cover taxes (a common cashless/net-settlement method) and do not necessarily indicate a change in insider sentiment.