NNI

SEC source: 0001008886-25-000057 · form4.xml · nonDerivative · entry 2

Tewes Timothy · CIK 0001427909 · President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 81,267

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

F3 · balance_after: Includes 1,492 shares issued pursuant to the issuer's Employee Share Purchase Plan. Also includes the following shares that were inadvertently omitted from prior Section 16 filings: (i) 606 shares acquired through a dividend reinvestment program and (ii) 825 shares for which acquisition records are no longer available.

SEC source: 0001008886-25-000057 · form4.xml · nonDerivative · entry 1

Tewes Timothy · CIK 0001427909 · President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 81,755

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

F3 · balance_after: Includes 1,492 shares issued pursuant to the issuer's Employee Share Purchase Plan. Also includes the following shares that were inadvertently omitted from prior Section 16 filings: (i) 606 shares acquired through a dividend reinvestment program and (ii) 825 shares for which acquisition records are no longer available.

SEC source: 0001008886-25-000051 · form4.xml · nonDerivative · entry 5

Munn William J · CIK 0001294176 · Secy/Chief Legal Off/Gen Coun

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,269

F3 · shares: These restricted shares were awarded to the reporting person pursuant to the issuer's Restricted Stock Plan. The shares vest equally over a five-year period, with one-fifth of the amount vesting annually on March 10 of each year.

SEC source: 0001008886-25-000051 · form4.xml · nonDerivative · entry 4

Munn William J · CIK 0001294176 · Secy/Chief Legal Off/Gen Coun

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,435

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

SEC source: 0001008886-25-000051 · form4.xml · nonDerivative · entry 3

Munn William J · CIK 0001294176 · Secy/Chief Legal Off/Gen Coun

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,564

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

SEC source: 0001008886-25-000051 · form4.xml · nonDerivative · entry 2

Munn William J · CIK 0001294176 · Secy/Chief Legal Off/Gen Coun

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,707

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

SEC source: 0001008886-25-000051 · form4.xml · nonDerivative · entry 1

Munn William J · CIK 0001294176 · Secy/Chief Legal Off/Gen Coun

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,826

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

SEC source: 0001008886-25-000047 · form4.xml · nonDerivative · entry 4

HEIMES TERRY J · CIK 0001269804 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 21,815

F4 · shares: These restricted shares were awarded to the reporting person pursuant to the issuer's Restricted Stock Plan. The shares vest equally over a five-year period, with one-fifth of the amount vesting annually on March 10 of each year.

SEC source: 0001008886-25-000047 · form4.xml · nonDerivative · entry 3

HEIMES TERRY J · CIK 0001269804 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,522

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

SEC source: 0001008886-25-000047 · form4.xml · nonDerivative · entry 2

HEIMES TERRY J · CIK 0001269804 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 20,008

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

SEC source: 0001008886-25-000047 · form4.xml · nonDerivative · entry 1

HEIMES TERRY J · CIK 0001269804 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 20,496

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

F3 · balance_after: The number of shares reflects shares contributed to a revocable trust as discussed in footnote (5) below.

SEC source: 0001008886-25-000053 · form4.xml · nonDerivative · entry 4

NOORDHOEK JEFFREY R · CIK 0001269813 · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 104,467

F4 · shares: These restricted shares were awarded to the reporting person pursuant to the issuer's Restricted Stock Plan. The shares vest equally over a five-year period, with one-fifth of the amount vesting annually on March 10 of each year.

F3 · balance_after: Includes 5,137 shares issued pursuant to the issuer's Employee Share Purchase Plan.

SEC source: 0001008886-25-000053 · form4.xml · nonDerivative · entry 3

NOORDHOEK JEFFREY R · CIK 0001269813 · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 102,174

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

F3 · balance_after: Includes 5,137 shares issued pursuant to the issuer's Employee Share Purchase Plan.

SEC source: 0001008886-25-000053 · form4.xml · nonDerivative · entry 2

NOORDHOEK JEFFREY R · CIK 0001269813 · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 102,660

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

F3 · balance_after: Includes 5,137 shares issued pursuant to the issuer's Employee Share Purchase Plan.

SEC source: 0001008886-25-000053 · form4.xml · nonDerivative · entry 1

NOORDHOEK JEFFREY R · CIK 0001269813 · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 103,148

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

F3 · balance_after: Includes 5,137 shares issued pursuant to the issuer's Employee Share Purchase Plan.

SEC source: 0001008886-25-000049 · form4.xml · nonDerivative · entry 4

Kruger James D · CIK 0001593432 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 56,060

F4 · shares: These restricted shares were awarded to the reporting person pursuant to the issuer's Restricted Stock Plan. The shares vest equally over a five-year period, with one-fifth of the amount vesting annually on March 10 of each year.

F3 · balance_after: Includes 4,303 shares issued pursuant to the issuer's Employee Share Purchase Plan. Also includes (i) 1,000 shares held jointly with spouse and (ii) shares distributed to the reporting person by a grantor retained annuity trust ("GRAT") as discussed in footnote (5) below.

SEC source: 0001008886-25-000049 · form4.xml · nonDerivative · entry 3

Kruger James D · CIK 0001593432 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 53,767

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

F3 · balance_after: Includes 4,303 shares issued pursuant to the issuer's Employee Share Purchase Plan. Also includes (i) 1,000 shares held jointly with spouse and (ii) shares distributed to the reporting person by a grantor retained annuity trust ("GRAT") as discussed in footnote (5) below.

SEC source: 0001008886-25-000049 · form4.xml · nonDerivative · entry 2

Kruger James D · CIK 0001593432 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 54,253

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

F3 · balance_after: Includes 4,303 shares issued pursuant to the issuer's Employee Share Purchase Plan. Also includes (i) 1,000 shares held jointly with spouse and (ii) shares distributed to the reporting person by a grantor retained annuity trust ("GRAT") as discussed in footnote (5) below.

SEC source: 0001008886-25-000049 · form4.xml · nonDerivative · entry 1

Kruger James D · CIK 0001593432 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 54,741

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

F3 · balance_after: Includes 4,303 shares issued pursuant to the issuer's Employee Share Purchase Plan. Also includes (i) 1,000 shares held jointly with spouse and (ii) shares distributed to the reporting person by a grantor retained annuity trust ("GRAT") as discussed in footnote (5) below.

SEC source: 0001008886-25-000045 · form4.xml · nonDerivative · entry 3

Dunlap Matthew W · CIK 0001917996 · Director · President, NFS

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,308

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

SEC source: 0001008886-25-000045 · form4.xml · nonDerivative · entry 2

Dunlap Matthew W · CIK 0001917996 · Director · President, NFS

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,375

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

SEC source: 0001008886-25-000045 · form4.xml · nonDerivative · entry 1

Dunlap Matthew W · CIK 0001917996 · Director · President, NFS

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,403

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on March 10, 2025.

F3 · balance_after: Includes 28 shares of Class A common stock acquired by the reporting person pursuant to the issuer's dividend reinvestment plan since November 18, 2024.

SEC source: 0001008886-25-000029 · form4.xml · nonDerivative · entry 1

NOORDHOEK JEFFREY R · CIK 0001269813 · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Indirect · By trust

Disclosed balance after: 0

F1 · kind: Represents the gift distribution of shares to a charitable organization as described in Section 501(c)(3) upon the termination of The Noordhoek Charitable Remainder Unitrust I (the "CRUT") in accordance with its terms.

F1 · shares: Represents the gift distribution of shares to a charitable organization as described in Section 501(c)(3) upon the termination of The Noordhoek Charitable Remainder Unitrust I (the "CRUT") in accordance with its terms.

F2 · balance_after: The number of shares reflects an annual distribution and transfer from the CRUT to the reporting person of 577 shares on December 26, 2024.

SEC source: 0001008886-25-000006 · form4.xml · nonDerivative · entry 1

Butterfield Shelby J · CIK 0001808121 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By CLAT

Disclosed balance after: 18,424

F1 · balance_after: Shares held by a charitable lead annuity trust ("CLAT") established by Stephen F. Butterfield, of which CLAT the descendants of the reporting person are included as remainder beneficiaries, which number of shares reflects the gift distribution from the CLAT to a charitable organization as described in Section 501(c)(3) of the Internal Revenue Code of 4,484 shares on December 31, 2024, pursuant to the terms of the CLAT. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of her pecuniary interest therein.

SEC source: 0001008886-24-000325 · form4.xml · nonDerivative · entry 1

Van Deun Jona M · CIK 0001917118 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 633

F1 · kind: This transaction was effected pursuant to a Rule 10b5-1 trading plan that was entered into by the reporting person on August 16, 2024.

SEC source: 0001008886-24-000319 · form4.xml · nonDerivative · entry 3

DUNLAP MICHAEL S · CIK 0001269797 · Director · Executive Chairman of Board · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By trust

Disclosed balance after: 44,773

F5 · kind: Represents the transfer of shares pursuant to the terms of a 2015 post annuity irrevocable trust to the beneficiary of the trust, who is an adult son of the reporting person.

F6 · balance_after: Shares held by the 2015 post annuity irrevocable trust discussed in footnote (5) above. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

SEC source: 0001008886-24-000319 · form4.xml · nonDerivative · entry 2

DUNLAP MICHAEL S · CIK 0001269797 · Director · Executive Chairman of Board · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By trust

Disclosed balance after: 46,329

F3 · kind: Represents the transfer of shares pursuant to the terms of a 2015 post annuity irrevocable trust to the beneficiary of the trust, who is an adult son of the reporting person.

F4 · balance_after: Shares held by the 2015 post annuity irrevocable trust discussed in footnote (3) above. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

SEC source: 0001008886-24-000319 · form4.xml · nonDerivative · entry 1

DUNLAP MICHAEL S · CIK 0001269797 · Director · Executive Chairman of Board · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By trust

Disclosed balance after: 240,025

F1 · kind: Represents the transfer of shares pursuant to the terms of a Michael S. Dunlap 2011 Post Annuity Irrevocable Trust to the beneficiary of the trust, who is an adult son of the reporting person.

F2 · balance_after: Shares held by the Michael S. Dunlap 2011 Post Annuity Irrevocable Trust discussed in footnote (1) above. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

SEC source: 0001008886-24-000323 · form4.xml · nonDerivative · entry 1

Dunlap Matthew W · CIK 0001917996 · Director · President, NFS

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 155,012

SEC source: 0001008886-24-000312 · form4.xml · nonDerivative · entry 2

Munn William J · CIK 0001294176 · Secy/Chief Legal Off/Gen Coun

10b5-1 filing: Plan reported

Ownership: Indirect · By Trust

Disclosed balance after: 9,354

F3 · kind: This transaction was effected pursuant to a Rule 10b5-1 plan that was entered into by the reporting person on August 15, 2024.

F2 · balance_after: Shares held by a living trust of which the reporting person and his spouse are the trustees and beneficiaries.

SEC source: 0001008886-24-000312 · form4.xml · nonDerivative · entry 1

Munn William J · CIK 0001294176 · Secy/Chief Legal Off/Gen Coun

10b5-1 filing: Plan reported

Ownership: Indirect · By Trust

Disclosed balance after: 11,854

F1 · kind: This gift to a charitable organization was effected pursuant to a Rule 10b5-1 plan that was entered into by the reporting person on August 13, 2024.

F2 · balance_after: Shares held by a living trust of which the reporting person and his spouse are the trustees and beneficiaries.

SEC source: 0001008886-24-000298 · form4.xml · nonDerivative · entry 2

Tewes Timothy · CIK 0001427909 · President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 81,115

F3 · kind: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the September 13, 2024 award.

F4 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the average market closing price of the shares for August 9, 2024 through August 15, 2024.

F2 · balance_after: Includes 1,492 shares issued pursuant to the issuer's Employee Share Purchase Plan.

SEC source: 0001008886-24-000298 · form4.xml · nonDerivative · entry 1

Tewes Timothy · CIK 0001427909 · President

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 81,408

F1 · kind: These shares were issued to the reporting person pursuant to the issuer's Restricted Stock Plan, which the reporting person became entitled to receive on September 13, 2024.

F2 · balance_after: Includes 1,492 shares issued pursuant to the issuer's Employee Share Purchase Plan.

SEC source: 0001008886-24-000296 · form4.xml · nonDerivative · entry 2

Munn William J · CIK 0001294176 · Secy/Chief Legal Off/Gen Coun

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,967

F2 · kind: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the September 13, 2024 award.

F3 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the average market closing price of the shares for August 9, 2024 through August 15, 2024.

SEC source: 0001008886-24-000296 · form4.xml · nonDerivative · entry 1

Munn William J · CIK 0001294176 · Secy/Chief Legal Off/Gen Coun

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,165

F1 · kind: These shares were issued to the reporting person pursuant to the issuer's Restricted Stock Plan, which the reporting person became entitled to receive on September 13, 2024.

SEC source: 0001008886-24-000290 · form4.xml · nonDerivative · entry 1

DUNLAP MICHAEL S · CIK 0001269797 · Director · Executive Chairman of Board · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,417,982

F1 · kind: This gift to a charitable organization as described in Section 501(c)(3) of the Internal Revenue Code was effected pursuant to a Rule 10b5-1 plan that was entered into by the reporting person on May 29, 2024.

SEC source: 0001008886-24-000286 · form4.xml · nonDerivative · entry 1

Kruger James D · CIK 0001593432 · Chief Financial Officer

10b5-1 filing: Plan reported

Ownership: Indirect · By Trust

Disclosed balance after: 5,000

F1 · kind: Represents the distribution of shares to an adult son of the reporting person from a trust for the benefit of such adult son of the reporting person. The reporting person continues to report beneficial ownership of the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

F1 · balance_after: Represents the distribution of shares to an adult son of the reporting person from a trust for the benefit of such adult son of the reporting person. The reporting person continues to report beneficial ownership of the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

SEC source: 0001398344-24-011796 · fp0088789-1_4.xml · derivative · entry 1

Peterson Adam K · CIK 0001667769 · Director · See below

MAGNOLIA CAPITAL FUND, LP · CIK 0001618333 · See remarks

MAGNOLIA GROUP, LLC · CIK 0001618376 · See remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,907,511

Underlying: Class A Common Stock · 2,166 shares

Expires not disclosed

F1 · derivative.exercise_price: 1-for-1.

F2 · derivative.exercise_date: The shares of phantom stock were granted pursuant to the issuer's Directors Stock Compensation Plan. They will become payable in shares of Class A Common Stock promptly after the time of termination of the reporting person's service as a member of the issuer's Board of Directors. The shares will be payable in a lump sum promptly after the time of termination of the reporting person's service as a member of the issuer's Board, or in up to five annual installments, commencing promptly after the time of termination of the reporting person's service on the issuer's Board, as elected by the reporting person.

F2 · derivative.expiration_date: The shares of phantom stock were granted pursuant to the issuer's Directors Stock Compensation Plan. They will become payable in shares of Class A Common Stock promptly after the time of termination of the reporting person's service as a member of the issuer's Board of Directors. The shares will be payable in a lump sum promptly after the time of termination of the reporting person's service as a member of the issuer's Board, or in up to five annual installments, commencing promptly after the time of termination of the reporting person's service on the issuer's Board, as elected by the reporting person.

F3 · balance_after: 1,900,000 of the reported shares are directly owned by Magnolia Capital Fund, LP, of which The Magnolia Group, LLC ("TMG") is the general partner and investment manager. Adam K. Peterson ("Mr. Peterson") is the managing member of TMG. TMG and Mr. Peterson could both be deemed to share indirect beneficial ownership of 1,900,000 shares of Common Stock of Nelnet Inc held by Magnolia Capital Fund, LP. Mr. Peterson holds directly the 7,511 shares of Phantom Stock for his own account.

F4 · balance_after: Includes a total of 15 shares acquired on September 15, 2023, 17 shares acquired on December 15, 2023, 17 shares acquired on March 15, 2024, and 16 shares acquired on June 14, 2024 pursuant to the dividend reinvestment feature of the issuer's Directors Stock Compensation Plan.

SEC source: 0001008886-24-000226 · form4.xml · derivative · entry 1

Rath Kimberly Kay · CIK 0001417993 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 60,669

Underlying: Class A Common Stock · 2,045 shares

Expires not disclosed

F1 · derivative.exercise_price: 1-for-1.

F2 · derivative.exercise_date: The shares of phantom stock were granted pursuant to the issuer's Directors Stock Compensation Plan. They will become payable in shares of Class A Common Stock promptly after the time of termination of the reporting person's service as a member of the issuer's Board of Directors. The shares will be payable in a lump sum promptly after the time of termination of the reporting person's service as a member of the issuer's Board, or in up to five annual installments, commencing promptly after the time of termination of the reporting person's service on the issuer's Board, as elected by the reporting person.

F2 · derivative.expiration_date: The shares of phantom stock were granted pursuant to the issuer's Directors Stock Compensation Plan. They will become payable in shares of Class A Common Stock promptly after the time of termination of the reporting person's service as a member of the issuer's Board of Directors. The shares will be payable in a lump sum promptly after the time of termination of the reporting person's service as a member of the issuer's Board, or in up to five annual installments, commencing promptly after the time of termination of the reporting person's service on the issuer's Board, as elected by the reporting person.

F3 · balance_after: Includes a total of 704 shares acquired since June 21, 2023 pursuant to the dividend reinvestment feature of the issuer's Directors Stock Compensation Plan.

SEC source: 0001008886-24-000220 · form4.xml · nonDerivative · entry 1

Farrell Kathleen Anne · CIK 0001417962 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,060

F1 · shares: These shares were granted pursuant to the issuer's Directors Stock Compensation Plan.

SEC source: 0001008886-24-000224 · form4.xml · derivative · entry 3

HENNING THOMAS EDWARD · CIK 0001269806 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 54,439

Underlying: Class A Common Stock · 2,316 shares

Expires not disclosed

F1 · derivative.exercise_price: 1-for-1.

F2 · derivative.exercise_date: The shares of phantom stock were granted pursuant to the issuer's Directors Stock Compensation Plan. They will become payable in shares of Class A Common Stock promptly after the time of termination of the reporting person's service as a member of the issuer's Board of Directors. The shares will be payable in a lump sum promptly after the time of termination of the reporting person's service as a member of the issuer's Board, or in up to five annual installments, commencing promptly after the time of termination of the reporting person's service on the issuer's Board, as elected by the reporting person.

F2 · derivative.expiration_date: The shares of phantom stock were granted pursuant to the issuer's Directors Stock Compensation Plan. They will become payable in shares of Class A Common Stock promptly after the time of termination of the reporting person's service as a member of the issuer's Board of Directors. The shares will be payable in a lump sum promptly after the time of termination of the reporting person's service as a member of the issuer's Board, or in up to five annual installments, commencing promptly after the time of termination of the reporting person's service on the issuer's Board, as elected by the reporting person.

F3 · balance_after: Includes a total of 625 shares acquired since June 21, 2023 pursuant to the dividend reinvestment feature of the issuer's Directors Stock Compensation Plan.

SEC source: 0001008886-24-000228 · form4.xml · derivative · entry 2

Van Deun Jona M · CIK 0001917118 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,634

Underlying: Class A Common Stock · 1,624 shares

Expires not disclosed

F2 · derivative.exercise_price: 1-for-1.

F3 · derivative.exercise_date: The shares of phantom stock were granted pursuant to the issuer's Directors Stock Compensation Plan. They will become payable in shares of Class A Common Stock promptly after the time of termination of the reporting person's service as a member of the issuer's Board of Directors. The shares will be payable in a lump sum promptly after the time of termination of the reporting person's service as a member of the issuer's Board, or in up to five annual installments, commencing promptly after the time of termination of the reporting person's service on the issuer's Board, as elected by the reporting person.

F3 · derivative.expiration_date: The shares of phantom stock were granted pursuant to the issuer's Directors Stock Compensation Plan. They will become payable in shares of Class A Common Stock promptly after the time of termination of the reporting person's service as a member of the issuer's Board of Directors. The shares will be payable in a lump sum promptly after the time of termination of the reporting person's service as a member of the issuer's Board, or in up to five annual installments, commencing promptly after the time of termination of the reporting person's service on the issuer's Board, as elected by the reporting person.

F4 · balance_after: Includes 50 share acquired since June 21, 2023 pursuant to the dividend reinvestment feature of the issuer's Directors Stock Compensation Plan.

SEC source: 0001008886-24-000228 · form4.xml · nonDerivative · entry 1

Van Deun Jona M · CIK 0001917118 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,073

F1 · shares: These shares were granted pursuant to the issuer's Directors Stock Compensation Plan.

SEC source: 0001008886-24-000222 · form4.xml · nonDerivative · entry 1

Graff David S · CIK 0001604854 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 28,546

F1 · shares: These shares were granted pursuant to the issuer's Directors Stock Compensation Plan.

SEC source: 0001008886-24-000218 · form4.xml · nonDerivative · entry 1

Bansal Preeta D · CIK 0001758392 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,733

F1 · shares: These shares were granted pursuant to the issuer's Directors Stock Compensation Plan.

SEC source: 0001008886-24-000210 · form4.xml · nonDerivative · entry 1

Dunlap Matthew W · CIK 0001917996 · Director · President, NFS

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,348

F1 · shares: These shares were tax-withheld by the issuer to satisfy the reporting person's tax obligation resulting from the vesting of a previously reported grant of shares pursuant to Rule 16b-3(d).

F2 · price: Per share value assigned by the issuer to the tax withholding shares under the tax withholding arrangement, and based on the market closing price of the shares on June 10, 2024.

F3 · balance_after: Includes 24 shares of Class A common stock acquired by the reporting person pursuant to the issuer's dividend reinvestment plan since March 12, 2024.

SEC source: 0001008886-24-000202 · form4.xml · nonDerivative · entry 1

Farrell Kathleen Anne · CIK 0001417962 · Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 16,894

F1 · kind: This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 6, 2024.

SEC source: 0001008886-24-000120 · form4.xml · nonDerivative · entry 2

Munn William J · CIK 0001294176 · Secy/Chief Legal Off/Gen Coun

10b5-1 filing: No plan indicated

Ownership: Indirect · By Trust

Disclosed balance after: 11,954

F1 · kind: Shares gifted to a living trust of which the reporting person and his spouse are the trustees and beneficiaries.

F2 · balance_after: Shares held by a living trust of which the reporting person and his spouse are the trustees and beneficiaries.

SEC source: 0001008886-24-000120 · form4.xml · nonDerivative · entry 1

Munn William J · CIK 0001294176 · Secy/Chief Legal Off/Gen Coun

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,491

F1 · kind: Shares gifted to a living trust of which the reporting person and his spouse are the trustees and beneficiaries.

SEC source: 0001008886-24-000119 · form4.xml · nonDerivative · entry 10

HEIMES TERRY J · CIK 0001269804 · Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Indirect · By trust

Disclosed balance after: 7,420

F7 · kind: Represents the transfer of shares upon the termination of a GRAT established by the reporting person's spouse on March 11, 2020 (the "Spouse GRAT"). The shares were transferred to the trusts described in footnotes (3) through (6) above.

F6 · balance_after: Shares held by a trust for the benefit of the daughter of the reporting person. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.