Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN 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 * Kenan Frank H. II 2. Issuer Name and Ticker or Trading Symbol BOSTON OMAHA Corp [BOC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O BOSTON OMAHA CORPORATION, 1601 DODGE STREET, SUITE 3300 3. Date of Earliest Transaction (Month/Day/Year) 12/01/2025 (Street) OMAHA, NE 68102 4. If Amendment, Date Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A common stock, par value $0.001 per share 9,644 D Class A common stock, par value $0.001 per share 12/01/2025 A 44,196 A $12.6735(1) 242,000 I See footnote(1) Class A common stock, par value $0.001 per share 12/02/2025 A 6,496 A $12.6736(2) 248,496 I See footnote(2) Class A common stock, par value $0.001 per share 12/03/2025 A 16,743 A $12.9413(3) 265,239 I See footnote(3) Class A common stock, $.001 par value per share 12/02/2025 A 4,452 A $12.65 4,452 I See footnote(4) Class A common stock, par value $0.001 per share 12/03/2025 A 8,000 A $12.919(5) 111,390 I See footnote(5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Kenan Frank H. II C/O BOSTON OMAHA CORPORATION 1601 DODGE STREET, SUITE 3300 OMAHA, NE 68102	X

Signatures

/s/ Frank H. Kenan, II		12/03/2025
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(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).
(1)	The reported shares are directly owned by KD Capital, L.P. Frank H. Kenan II is the manager of and owns 100% of KD Capital Management, LLC, which is the general partner of KD Capital, L.P. Mr. Kenan could be deemed to have indirect beneficial ownership of the shares reported herein. The shares purchased on December 1, 2025 were purchased in multiple transactions at an average price of $12.6735 per share and at individual transaction prices ranging from $12.3966 to $12.88 per share. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) to this Form 4.
(2)	The reported shares are directly owned by KD Capital, L.P. Frank H. Kenan II is the manager of and owns 100% of KD Capital Management, LLC, which is the general partner of KD Capital, L.P. Mr. Kenan could be deemed to have indirect beneficial ownership of the shares reported herein. The shares purchased on December 2, 2025 were purchased in multiple transactions at an average price of $12.6736 per share and at individual transaction prices ranging from $12.65 to $12.69 per share. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) to this Form 4.
(3)	The reported shares are directly owned by KD Capital, L.P. Frank H. Kenan II is the manager of and owns 100% of KD Capital Management, LLC, which is the general partner of KD Capital, L.P. Mr. Kenan could be deemed to have indirect beneficial ownership of the shares reported herein. The shares purchased on December 3, 2025 were purchased in multiple transactions at an average price of $12.9413 per share and at individual transaction prices ranging from $12.75 to $13.0599 per share. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (3) to this Form 4
(4)	The reported shares are owned in individual retirement accounts for the benefit of Mr. Kenan.
(5)	The reported shares are directly owned by a trust under which Frank H. Kenan II is both the trustee and a beneficiary. Mr. Kenan could be deemed to have indirect beneficial ownership of the shares reported herein. The shares purchased on December 3, 2025 were purchased in multiple transactions at an average price of $12.9190 per share and at individual transaction prices ranging from $12.88 to $12.9411 per share. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (5) to this Form 4.

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