Nelnet expands board to 10 with new independent directors Klein and Pallesen

NELNET INC

Board size increased from 8 to 10; Angela Klein appointed Class III (term to 2029) and Edward Pallesen Class II (term to 2028).
Klein is head of U.S. consumer channels at Apple; ex-Verizon (nearly 25 yrs) including president of Verizon Value.
Pallesen is managing director and global head of infrastructure at H.I.G. Capital; also ex-Goldman Sachs.
Klein joins Nominating/Governance, People/Comp, Compliance; Pallesen joins Nominating/Governance and Risk/Finance.
Pro rata director retainers of ~$141,000 (Klein) and ~$133,000 (Pallesen) payable in Class A common stock.

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