FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 05/04/2018 |
3. Issuer Name and Ticker or Trading Symbol
NELNET INC [ NNI ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Class B Common Stock | 745,745(1) | I | By the Estate of Stephen F. Butterfield |
Class B Common Stock | 135,332(2) | I | By trust |
Class B Common Stock | 70,586 | D | |
Class B Common Stock | 1,586,691(3) | I | By corporation |
Class B Common Stock | 61,941(4) | I | By CLAT |
Class B Common Stock | 100,000(5) | I | By GRAT |
Class B Common Stock | 99,259(6) | I | By GRAT |
Class B Common Stock | 95,787(7) | I | By GRAT |
Class B Common Stock | 82,947(8) | I | By GRAT |
Class B Common Stock | 94,288(9) | I | By GRAT |
Class B Common Stock | 92,327(10) | I | By GRAT |
Class B Common Stock | 88,385(11) | I | By GRAT |
Class B Common Stock | 76,521(12) | I | By GRAT |
Class B Common Stock | 95,787(13) | I | By GRAT |
Class B Common Stock | 82,947(14) | I | By GRAT |
Class B Common Stock | 88,385(15) | I | By GRAT |
Class B Common Stock | 76,521(16) | I | By GRAT |
Class B Common Stock | 50,325(17) | I | By trust |
Class B Common Stock | 50,325(18) | I | By trust |
Class B Common Stock | 100 | I | By the reporting person as UTMA custodian for daughter |
Class B Common Stock | 100 | I | By the reporting person as UTMA custodian for son |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Explanation of Responses: |
1. Shares held by the Estate of Stephen F. Butterfield (the "Butterfield Estate"), for which the reporting person was appointed as personal representative on May 4, 2018. The reporting person reports beneficial ownership of all the shares held by the Butterfield Estate, but disclaims beneficial ownership of the shares held by the Butterfield Estate except to the extent of her pecuniary interest therein. |
2. Shares held by the Stephen F. Butterfield Revocable Living Trust, which became irrevocable upon the passing of Mr. Butterfield on April 16, 2018. 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. |
3. Shares held by Union Financial Services, Inc. ("UFS"), of which the Butterfield Estate 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. |
4. 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. 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. |
5. Shares held by a grantor retained annuity trust ("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. |
6. 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. |
7. 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. |
8. 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. |
9. 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. |
10. 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. |
11. 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. |
12. 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. |
13. Shares held by a separate GRAT established by Stephen F. Butterfield 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. |
14. Shares held by a separate GRAT established by Stephen F. Butterfield 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. |
15. Shares held by a separate GRAT established by Stephen F. Butterfield 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. |
16. Shares held by a separate GRAT established by Stephen F. Butterfield 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. |
17. Shares held by a trust, of which the daughter of the reporting person is the beneficiary. |
18. Shares held by a trust, of which the son of the reporting person is the beneficiary. |
Remarks: |
The reporting person is the surviving spouse of Stephen F. Butterfield, who immediately before his passing on April 16, 2018 was a director and a greater than 10% beneficial owner of the issuer. The reporting person was appointed as the personal representative of Mr. Butterfield's estate on May 4, 2018. All of the securities reported as beneficially owned by the reporting person herein were included in the securities previously reported as beneficially owned by Mr. Butterfield prior to his passing. Exhibit List: Exhibit 24 - Power of Attorney |
/s/ Audra Hoffschneider, Attorney-in-Fact for Shelby J. Butterfield | 03/31/2020 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |