UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
JANUARY 9, 2006
NELNET, INC.
(Exact name of registrant as specified in its charter)
NEBRASKA 001-31924 84-0748903
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
121 SOUTH 13TH STREET
SUITE 201
LINCOLN, NEBRASKA 68508
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (402) 458-2370
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17CFR 240-13e-4(c))
Item 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS.
On January 9, 2006, the Board of Directors of Nelnet, Inc.
appointed Jeffrey R. Noordhoek as President of the Company, effective
immediately. Michael S. Dunlap and Stephen F. Butterfield will continue
in their roles as Co-Chief Executive Officers and also in their roles as
Chairman of the Board and Vice Chairman of the Board, respectively.
Prior to his appointment as President, Mr. Noordhoek, age 39,
served as Executive Director and Capital Markets Officer of the Company,
a position he held since October 2002. From March 2001 until October
2002 he was Senior Vice President of National Education Loan Network,
Inc., a subsidiary of Nelnet. Between January 1996 and March 2001, he
served as a Vice President of the Company, and prior to 1996 he served
as a Vice President of Nelnet's predecessor, Union Financial Services,
Inc.
Mr. Noordhoek's employment is not subject to an employment
agreement. Under the Company's Bylaws, each officer holds office for a
term of one year or until their successor is elected and qualified. As
President, Mr. Noordhoek will have compensation arrangements
commensurate with the arrangements for the Named Executive Officers
(other than the Co-CEO's) as summarized with respect to 2005 in Exhibit
10.3 to the Company's Quarterly Report on Form 10-Q for the quarter
ended March 31, 2005.
On January 9, 2006, Nelnet, Inc. issued a press release
announcing Mr. Noordhoek's appointment and the formation of an
Educational Services division that will be led by David Bottegal as
Chief Executive Officer of the division and Matt Hall as Chief Operating
Officer of the division. A copy of the press release is attached as an
exhibit to this Report.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits. The following exhibit is filed as part of this report:
99.1 - Press release by Nelnet, Inc. dated January 9, 2006 - "Nelnet
taps Bottegal and Hall to lead Education Services division,
names Noordhoek President"
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated: January 11, 2006
NELNET, INC.
/s/ TERRY J. HEIMES
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By: Terry J. Heimes
Title: Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release by Nelnet, Inc. dated January 9, 2006 - "Nelnet
taps Bottegal and Hall to lead Education Services division,
names Noordhoek President"