800,000 shares by two people
It appears to have been a non-event actually. See motley fool article below:http://www.fool.com/news/commentary/2006/commentary06092719.htm?source=eptyholnk303100&logvisit=y&npu=y
There is all sorts of weird insider stuff at Nelnet. This tangled ownership web was discussed by Christopher Byron in a finance column just before the Nelnet IPO. I can't seem to find a copy of this column, but it was very negative.