Adam K. Peterson - Mar 17, 2022 Form 3 Insider Report for NELNET INC (NNI)

Role
Director, Other*
Signature
/s/ Adam K. Peterson
Stock symbol
NNI
Transactions as of
Mar 17, 2022
Transactions value $
$0
Form type
3
Date filed
3/21/2022, 09:01 PM
Previous filing
Feb 18, 2022
Next filing
May 26, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding NNI Class A Common Stock 1.9M Mar 17, 2022 By Magnolia Capital Fund, LP F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 All of the reported shares of Class A Common Stock 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 Class A Common Stock of Nelnet, Inc.
F2 TMG and Mr. Peterson disclaim beneficial ownership 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.

Remarks:

For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the Reporting Person may be deemed to be a director by deputization due to Mr. Peterson serving as a member of the board of directors of the Issuer.