Nelnet's top three insider shareholders as of September 17, 2026 are Angie Muhleisen (TenPercentOwner, 2.19Mn shares), Adam K Peterson (Other, 1.68Mn shares), Adam K Peterson (Director, 1.68Mn shares).
| # | Insider | Position | Direct | Indirect | Total | Share of Insiders | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Adam K Peterson | Other | 3,355,007 | 0 | 3,355,007 | 42.1% | 01 Apr, 2026 |
| 2 | Angie Muhleisen | TenPercentOwner | 2,191,180 | 0 | 2,191,180 | 27.5% | 20 Aug, 2025 |
| 3 | Michael S Dunlap | Executive Chairman Of Board | 1,382,982 | 153,880 | 1,536,862 | 19.3% | 03 Dec, 2025 |
| 4 | Matthew W Dunlap | President, Nfs | 243,251 | 0 | 243,251 | 3.1% | 11 Jun, 2026 |
| 5 | Shelby J Butterfield | Other | 0 | 179,463 | 179,463 | 2.3% | 27 Aug, 2025 |
| 6 | Jeffrey R Noordhoek | Chief Executive Officer | 109,583 | 0 | 109,583 | 1.4% | 12 Mar, 2026 |
| 7 | Timothy Tewes | President | 94,048 | 0 | 94,048 | 1.2% | 12 Mar, 2026 |
| 8 | James P Abel | Other | 74,026 | 0 | 74,026 | 0.9% | 17 Mar, 2022 |
| 9 | David S Graff | Director | 31,953 | 0 | 31,953 | 0.4% | 16 Sep, 2026 |
| 10 | Deeann Wenger | Pres, Nelnet Business Services | 31,025 | 0 | 31,025 | 0.4% | 12 Mar, 2026 |
| 11 | Terry J Heimes | Chief Operating Officer | 27,923 | 0 | 27,923 | 0.4% | 12 Mar, 2026 |
| 12 | Kathleen Anne Farrell | Director | 22,755 | 0 | 22,755 | 0.3% | 16 Sep, 2026 |
| 13 | Preeta D Bansal | Director | 20,243 | 0 | 20,243 | 0.3% | 17 Jun, 2026 |
| 14 | William J Munn | Secy/Chief Legal Off/Gen Coun | 6,872 | 12,155 | 19,027 | 0.2% | 17 Apr, 2026 |
| 15 | Thomas Edward Henning | Director | 11,058 | 0 | 11,058 | 0.1% | 08 Sep, 2025 |
| 16 | Emily Olinger | Chief People Services Officer | 7,859 | 0 | 7,859 | 0.1% | 12 Mar, 2026 |
| 17 | James D Kruger | Chief Financial Officer | 0 | 2,500 | 2,500 | 0.0% | 10 Jul, 2026 |
| 18 | Deun Jona M Van | Director | 1,111 | 0 | 1,111 | 0.0% | 17 Jun, 2026 |
| 19 | Angie J Klein | Director | 1,108 | 0 | 1,108 | 0.0% | 16 Sep, 2026 |
| 20 | Edward Sysel Pallesen | Director | 1,046 | 0 | 1,046 | 0.0% | 16 Sep, 2026 |
Each row is that insider’s most recently reported position, from Form 4 filings over the last 60 months — which is why this total does not tie to the quarterly series above, where a quarter counts only the insiders who filed in it. Shares held through a fund or institutional portfolio are counted on the institutional ownership page instead.
| Date | Insider | Position | Transaction | Shares | Price | Value | Shares Held After | Ownership |
|---|---|---|---|---|---|---|---|---|
| 09 Jul, 2026 | James D Kruger | Chief Financial Officer | Disposed G | 2,500 | $0.00 | $0 | 2,500 | Indirect |
| 15 Jun, 2026 | David S Graff | Director | Acquired A | 1,535 | $110.76 | $170.02K | 31,860 | Direct |
| 15 Jun, 2026 | Kathleen Anne Farrell | Director | Acquired A | 1,626 | $110.76 | $180.10K | 22,570 | Direct |
| 15 Jun, 2026 | Kimberly Kay Rath | Director | Acquired A | 1,535 | $110.76 | $170.02K | 65,229 | Direct |
| 15 Jun, 2026 | Deun Jona M Van | Director | Acquired A | 407 | $110.76 | $45.08K | 1,111 | Direct |
| 15 Jun, 2026 | Preeta D Bansal | Director | Acquired A | 1,626 | $110.76 | $180.10K | 20,243 | Direct |
| 15 Jun, 2026 | Deun Jona M Van | Director | Acquired A | 1,219 | $110.76 | $135.02K | 8,398 | Direct |
| 15 Jun, 2026 | Thomas Edward Henning | Director | Acquired A | 1,738 | $110.76 | $192.50K | 59,312 | Direct |
| 10 Jun, 2026 | Matthew W Dunlap | President, Nfs | Disposed F | 15 | $130.72 | $1.96K | 17,054 | Direct |
| 30 Apr, 2026 | James D Kruger | Chief Financial Officer | Disposed G | 5,000 | $0.00 | $0 | 5,000 | Indirect |
| 15 Apr, 2026 | William J Munn | Secy/Chief Legal Off/Gen Coun | Disposed G | 1,052 | $0.00 | $0 | 6,872 | Direct |
| 15 Apr, 2026 | William J Munn | Secy/Chief Legal Off/Gen Coun | Acquired G | 1,052 | $0.00 | $0 | 12,155 | Indirect |
| 30 Mar, 2026 | Adam K Peterson | Other | Acquired M | 9,544 | $0.00 | $0 | 1,678,520 | Direct |
| 30 Mar, 2026 | Adam K Peterson | Other | Acquired C | 9,544 | $0.00 | $0 | 0 | Direct |
| 10 Mar, 2026 | William J Munn | Secy/Chief Legal Off/Gen Coun | Disposed F | 119 | $131.23 | $15.62K | 3,401 | Direct |
| 10 Mar, 2026 | William J Munn | Secy/Chief Legal Off/Gen Coun | Disposed F | 143 | $131.23 | $18.77K | 3,258 | Direct |
| 10 Mar, 2026 | William J Munn | Secy/Chief Legal Off/Gen Coun | Disposed F | 129 | $131.23 | $16.93K | 3,129 | Direct |
| 10 Mar, 2026 | William J Munn | Secy/Chief Legal Off/Gen Coun | Disposed F | 50 | $131.23 | $6.56K | 3,079 | Direct |
| 10 Mar, 2026 | William J Munn | Secy/Chief Legal Off/Gen Coun | Acquired A | 3,011 | $0.00 | $0 | 6,090 | Direct |
| 10 Mar, 2026 | William J Munn | Secy/Chief Legal Off/Gen Coun | Acquired A | 2,597 | $0.00 | $0 | 8,687 | Direct |