<SEC-DOCUMENT>0001437749-21-000124.txt : 20210105
<SEC-HEADER>0001437749-21-000124.hdr.sgml : 20210105
<ACCEPTANCE-DATETIME>20210105163349
ACCESSION NUMBER:		0001437749-21-000124
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20201102
FILED AS OF DATE:		20210105
DATE AS OF CHANGE:		20210105

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Butterfield Shelby J
		CENTRAL INDEX KEY:			0001808121

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31924
		FILM NUMBER:		21506198

	MAIL ADDRESS:	
		STREET 1:		121 SOUTH 13TH STREET, SUITE 100
		CITY:			LINCOLN
		STATE:			NE
		ZIP:			68508

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NELNET INC
		CENTRAL INDEX KEY:			0001258602
		STANDARD INDUSTRIAL CLASSIFICATION:	PERSONAL CREDIT INSTITUTIONS [6141]
		IRS NUMBER:				840748903
		STATE OF INCORPORATION:			NE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		121 SOUTH 13TH ST
		STREET 2:		STE 201
		CITY:			LINCOLN
		STATE:			NE
		ZIP:			68508
		BUSINESS PHONE:		402-458-2370

	MAIL ADDRESS:	
		STREET 1:		121 SOUTH 13TH ST
		STREET 2:		STE 201
		CITY:			LINCOLN
		STATE:			NE
		ZIP:			68508
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rdgdoc.xml
<DESCRIPTION>FORM 4
<TEXT>
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                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>29967</value>
                    <footnoteId id="F27"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By the Estate of Stephen F. Butterfield</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50325</value>
                    <footnoteId id="F28"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50325</value>
                    <footnoteId id="F29"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>100</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By the reporting person as UTMA custodian for daughter</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">This transaction involved a gift by the reporting person to a charitable organization as described in Section 501(c)(3) of the Internal Revenue Code.</footnote>
        <footnote id="F2">Reflects annuity distributions of a total of 34,191 shares to the reporting person on December 18, 2020 from grantor retained annuity trusts (&quot;GRATs&quot;) established by the reporting person as discussed in footnotes (3), (8), and (18) through (22) below.</footnote>
        <footnote id="F3">Shares were held by a GRAT established by the reporting person on December 18, 2015.  In connection with the expiration of the term of such trust on December 18, 2020, a total of 46,637 shares were transferred by gift on December 31, 2020 pursuant to the terms of such trust.  Prior to such transfers, 12,817 shares were transferred to the reporting person in the final annuity distribution on December 18, 2020, and continue to be reported in this Form 4 as directly owned by the reporting person.</footnote>
        <footnote id="F4">As part of the distribution on December 31, 2020 of shares from a GRAT established by the reporting person as discussed in footnote (3) above, 9,327 shares were distributed to a trust for the benefit of the reporting person's daughter.</footnote>
        <footnote id="F5">Shares held by a trust for the benefit of the reporting person's daughter.</footnote>
        <footnote id="F6">As part of the distribution on December 31, 2020 of shares from a GRAT established by the reporting person as discussed in footnote (3) above, 9,327 shares were distributed to a trust for the benefit of the reporting person's son.</footnote>
        <footnote id="F7">Shares held by a trust for the benefit of the reporting person's son.</footnote>
        <footnote id="F8">Shares were held by a separate GRAT established by the reporting person on December 18, 2015. In connection with the expiration of the term of such trust on December 18, 2020, a total of 45,335 shares were transferred by gift on December 31, 2020 pursuant to the terms of such trust. Prior to such transfers, 9,017 shares were transferred to the reporting person in the final annuity distribution on December 18, 2020, and continue to be reported in this Form 4 as directly owned by the reporting person.</footnote>
        <footnote id="F9">As part of the distribution on December 31, 2020 of shares from a separate GRAT established by the reporting person as discussed in footnote (8) above, 9,067 shares were distributed to a trust for the benefit of the reporting person's daughter.</footnote>
        <footnote id="F10">As part of the distribution on December 31, 2020 of shares from a separate GRAT established by the reporting person as discussed in footnote (8) above, 9,067 shares were distributed to a trust for the benefit of the reporting person's son.</footnote>
        <footnote id="F11">Shares were held by a GRAT established by Stephen F. Butterfield on December 18, 2015.  In connection with the expiration of the term of such trust on December 18, 2020, 45,205 shares were transferred to the reporting person by gift on December 31, 2020 pursuant to the terms of such trust.  Prior to such transfer, 9,135 shares were transferred to the Estate of Stephen F. Butterfield (the &quot;Butterfield Estate&quot;) in the final annuity distribution on December 18, 2020, and continue to be reported in this Form 4 as indirectly owned by the Butterfield Estate.</footnote>
        <footnote id="F12">Shares were held by a separate GRAT established by Stephen F. Butterfield on December 18, 2015.  In connection with the expiration of the term of such trust on December 18, 2020, 46,449 shares were transferred to the reporting person by gift on December 31, 2020 pursuant to the terms of such trust.  Prior to such transfer, 12,938 shares were transferred to the Butterfield Estate in the final annuity distribution on December 18, 2020, and continue to be reported in this Form 4 as indirectly owned by the Butterfield Estate.</footnote>
        <footnote id="F13">Shares held by a charitable lead annuity trust (&quot;CLAT&quot;) 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 6,672 shares on December 31, 2020, 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.</footnote>
        <footnote id="F14">Shares held by the Stephen F. Butterfield GST Exempt Marital Trust, an estate planning trust for the family of Stephen F. Butterfield.  The reporting person reports 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.</footnote>
        <footnote id="F15">Shares held by the Stephen F. Butterfield GST Non-Exempt Marital Trust (the &quot;Butterfield GST Non-Exempt Marital Trust&quot;), an estate planning trust for the family of Stephen F. Butterfield. The reporting person reports 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.</footnote>
        <footnote id="F16">Shares held by Union Financial Services, Inc. (&quot;UFS&quot;), of which the Butterfield GST Non-Exempt Marital Trust owns 50.0% of the outstanding capital stock and the Executive Chairman of the issuer owns the other 50.0% of the outstanding capital stock.  The reporting person reports beneficial ownership of all the shares held by UFS, but disclaims beneficial ownership of the shares held by UFS except to the extent of her pecuniary interest therein.</footnote>
        <footnote id="F17">Shares held by a separate GRAT established by the reporting person on December 18, 2015. The reporting person reports 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.</footnote>
        <footnote id="F18">Shares held by a separate GRAT established by the reporting person on December 18, 2015, which reflect an annuity distribution from the trust to the reporting person of 578 shares on December 18, 2020.  The reporting person reports 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.</footnote>
        <footnote id="F19">Shares held by a separate GRAT established by the reporting person on December 18, 2015, which reflect an annuity distribution from the trust to the reporting person of 3,170 shares on December 18, 2020.  The reporting person reports 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.</footnote>
        <footnote id="F20">Shares held by a separate GRAT established by the reporting person on December 18, 2015, which reflect an annuity distribution from the trust to the reporting person of 4,191 shares on December 18, 2020.  The reporting person reports 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.</footnote>
        <footnote id="F21">Shares held by a separate GRAT established by the reporting person on December 18, 2015, which reflect an annuity distribution from the trust to the reporting person of 2,604 shares on December 18, 2020.  The reporting person reports 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.</footnote>
        <footnote id="F22">Shares held by a separate GRAT established by the reporting person on December 18, 2015, which reflect an annuity distribution from the trust to the reporting person of 1,814 shares on December 18, 2020.  The reporting person reports 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.</footnote>
        <footnote id="F23">Shares held by a separate GRAT established by Stephen F. Butterfield on December 18, 2015, which reflect an annuity distribution from the trust to the Butterfield Estate of 4,435 shares on December 18, 2020.  The reporting person reports 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.</footnote>
        <footnote id="F24">Shares held by a separate GRAT established by Stephen F. Butterfield on December 18, 2015, which reflect an annuity distribution from the trust to the Butterfield Estate of 3,454 shares on December 18, 2020. The reporting person reports 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.</footnote>
        <footnote id="F25">Shares held by a trust for the benefit of the reporting person's daughter established under the restated agreement for the Stephen F. Butterfield Revocable Living Trust, which became irrevocable upon the passing of Mr. Butterfield on April 16, 2018.</footnote>
        <footnote id="F26">Shares held by a trust for the benefit of the reporting person's son established under the restated agreement for the Stephen F. Butterfield Revocable Living Trust, which became irrevocable upon the passing of Mr. Butterfield on April 16, 2018.</footnote>
        <footnote id="F27">Shares held by the Butterfield Estate, for which the reporting person is the personal representative, and which number of shares reflects annuity distributions to the Butterfield Estate of a total of 29,962 shares on December 18, 2020 from the GRATs established by Stephen F. Butterfield as discussed in footnotes (11), (12), (23), and (24) above.  The reporting person disclaims beneficial ownership of the shares held by the Butterfield Estate, except to the extend of her pecuniary interest therein.</footnote>
        <footnote id="F28">Shares held by a trust, of which the daughter of the reporting person is the beneficiary.</footnote>
        <footnote id="F29">Shares held by a trust, of which the son of the reporting person is the beneficiary.</footnote>
    </footnotes>

    <remarks>One of two Form 4s filed on January 5, 2021 for the reporting of November 2, 2020 and December 31, 2020 gift transactions included in this first Form 4.  The second Form 4 includes an additional holding that could not be included in this first Form 4 due to a limitation on the number of line items that can be included per table in a single Form 4.</remarks>

    <ownerSignature>
        <signatureName>/s/ Audra Hoffschneider, Attorney-in-Fact for Shelby J. Butterfield</signatureName>
        <signatureDate>2021-01-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
