Van Deun Jona M 4

What Happened Jona M. Van Deun, a member of Nelnet’s Board of Directors, received awards under the issuer’s Directors Stock Compensation Plan on June 15, 2026. The filing shows two acquisitions: 407 actual shares at $110.76 each (value $45,079) and 1,219 phantom/derivative shares at $110.76 each (value $135,016), for a combined grant value of $180,095. The transactions are reported as Code A (award/grant).

Key Details

• Transaction date and price: June 15, 2026 — 407 shares @ $110.76 ($45,079) and 1,219 derivative shares @ $110.76 ($135,016).
• Total granted: 1,626 shares (407 issued shares + 1,219 phantom/derivative shares); combined value ~$180,095.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Footnotes of note:
  • Grants made under the Directors Stock Compensation Plan (F1).
  • 1-for-1 conversion noted (F2) — phantom shares convert one-for-one to Class A common stock.
  • The 1,219 phantom shares will be payable in Class A common stock after the reporting person’s board service ends, either in a lump sum or up to five annual installments as elected (F3).
  • Includes 74 shares acquired since June 18, 2025 via dividend reinvestment under the plan (F4).
• Filing timeliness: Reported on June 17, 2026 for a June 15 transaction — appears timely (Form 4 is typically due within two business days).

Context

• These are grants under a director compensation plan, not open-market purchases or sales; such awards are routine compensation and do not by themselves indicate an insider buying or selling for investment reasons.
• The 1,219 phantom (derivative) shares are deferred compensation that will convert to actual shares upon the director’s departure from the board, per plan terms.