DUNLAP MICHAEL S

PrivateCIK: 1269797

Location

LINCOLN, NE

DUNLAP MICHAEL S (Executive Chairman of Board) reported 1 transaction at NELNET INC

Review the transaction codes below to understand the nature of each event.

DUNLAP MICHAEL S

Filed: 11/21/2025ACC: 0001008886-25-000300

InsiderDUNLAP MICHAEL SCIK 1269797

→

IssuerNELNET INCCIK 1258602

DirectorOfficer10% Owner· Executive Chairman of Board

Since Nov 2018

-35K

Net shares

Net seller

$0.00

Total acquired

0

Open market trades

0B · 0S

1

Total transactions

35K disposed

Non-Derivative Transactions1

Class A Common Stock

Direct

G · Gift

Shares

−35K

Price / share

—

Trade value

—

% of position

2.5%

11/19/2025

1.42M→1.38M

Total

Net shares

−35K

Net value

$0.00

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Class A Common Stock Direct	11/19/2025	G · Gift	−35K	—	—	2.5%	1.42M	1.38M
Total			−35K		$0.00

Derivative Transactions0

No derivative transactions reported

Non-Derivative Holdings (Post-Transaction)29

Class B Common Stock

Indirect

Shares owned351.26K

Class B Common Stock

Indirect

Shares owned1.60M

Class B Common Stock

Indirect

Shares owned353.25K

Class B Common Stock

Indirect

Shares owned545.29K

Class B Common Stock

Indirect

Shares owned173.18K

Class A Common Stock

Indirect

Shares owned45.00

Class B Common Stock

Indirect

Shares owned24.57K

Class B Common Stock

Indirect

Shares owned266.09K

Class B Common Stock

Indirect

Shares owned21.42K

Class B Common Stock

Indirect

Shares owned24.18K

Class B Common Stock

Indirect

Shares owned302.04K

Class B Common Stock

Indirect

Shares owned432.77K

Class B Common Stock

Indirect

Shares owned23.86K

Class B Common Stock

Indirect

Shares owned16.12K

Class A Common Stock

Indirect

Shares owned46.00

Class B Common Stock

Direct

Shares owned575.11K

Class B Common Stock

Indirect

Shares owned34.73K

Class B Common Stock

Indirect

Shares owned36.02K

Class B Common Stock

Indirect

Shares owned173.18K

Class B Common Stock

Indirect

Shares owned27.29K

Class B Common Stock

Indirect

Shares owned31.20K

Class B Common Stock

Indirect

Shares owned173.18K

Class A Common Stock

Indirect

Shares owned45.00

Class B Common Stock

Indirect

Shares owned39.72K

Class B Common Stock

Indirect

Shares owned452.67K

Class B Common Stock

Indirect

Shares owned24.18K

Class B Common Stock

Indirect

Shares owned125K

Class B Common Stock

Indirect

Shares owned125K

Class B Common Stock

Indirect

Shares owned125K

Total

575.11K direct·5.50M indirect6.08M

Security Title	Shares Owned	Ownership Type
Class B Common Stock	351.26K	Indirect
Class B Common Stock	1.60M	Indirect
Class B Common Stock	353.25K	Indirect
Class B Common Stock	545.29K	Indirect
Class B Common Stock	173.18K	Indirect
Class A Common Stock	45.00	Indirect
Class B Common Stock	24.57K	Indirect
Class B Common Stock	266.09K	Indirect
Class B Common Stock	21.42K	Indirect
Class B Common Stock	24.18K	Indirect
Class B Common Stock	302.04K	Indirect
Class B Common Stock	432.77K	Indirect
Class B Common Stock	23.86K	Indirect
Class B Common Stock	16.12K	Indirect
Class A Common Stock	46.00	Indirect
Class B Common Stock	575.11K	Direct
Class B Common Stock	34.73K	Indirect
Class B Common Stock	36.02K	Indirect
Class B Common Stock	173.18K	Indirect
Class B Common Stock	27.29K	Indirect
Class B Common Stock	31.20K	Indirect
Class B Common Stock	173.18K	Indirect
Class A Common Stock	45.00	Indirect
Class B Common Stock	39.72K	Indirect
Class B Common Stock	452.67K	Indirect
Class B Common Stock	24.18K	Indirect
Class B Common Stock	125K	Indirect
Class B Common Stock	125K	Indirect
Class B Common Stock	125K	Indirect
Total	6.08M	575.11K direct·5.50M indirect

Derivative Holdings (Post-Transaction)0

No derivative holdings reported

DUNLAP MICHAEL S — Insider Transaction (Form 4) Filed Nov 21, 2025 | Finecho