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NATIONAL RESEARCH CORP Director's Dealing 2011

May 10, 2011

33341_dirs_2011-05-10_9a1d7f74-e10d-4d20-a4ac-cc33d7ed4ee7.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RESEARCH CORP (NRCI)
CIK: 0000070487
Period of Report: 2011-05-06

Reporting Person: MARTIN JOANN M (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-06	Director Stock Option (Right to Buy)	$34.55	A	12000	Acquired	2021-05-06	Common Stock (12000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4500	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Director Stock Option (Right to Buy)	$16.94	2014-05-06	Common Stock (1000)	1000	Direct
Director Stock Option (Right to Buy)	$16.05	2014-05-21	Common Stock (11000)	11000	Direct
Director Stock Option (Right to Buy)	$14.20	2015-05-05	Common Stock (12000)	12000	Direct
Director Stock Option (Right to Buy)	$22.61	2016-05-04	Common Stock (12000)	12000	Direct
Director Stock Option (Right to Buy)	$25.05	2017-05-03	Common Stock (12000)	12000	Direct
Director Stock Option (Right to Buy)	$29.87	2018-05-02	Common Stock (12000)	12000	Direct
Director Stock Option (Right to Buy)	$27.23	2019-05-08	Common Stock (12000)	12000	Direct
Director Stock Option (Right to Buy)	$26.58	2020-05-07	Common Stock (12000)	12000	Direct