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NATIONAL RESEARCH CORP Director's Dealing 2012

Feb 16, 2012

33341_dirs_2012-02-16_d497bd56-ead1-4cab-92b8-217b4fe87863.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: 2012-02-08

Reporting Person: Hays Michael D. (Director, CEO, 10% Owner)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2012-02-08 Common Stock G 300000 Disposed 4359636 Direct
2012-02-08 Common Stock G 300000 Acquired 300250 Indirect
2012-02-09 Common Stock S 236806 $41.495 Disposed 4122830 Direct
2012-02-09 Common Stock S 236806 $41.495 Disposed 63444 Indirect

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 25 Indirect
Common Stock 50 Indirect

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Employee Stock Option (right to buy) $16.1 2014-01-05 Common Stock (18298) 18298 Direct
Employee Stock Option (right to buy) $17.25 2016-01-05 Common Stock (11078) 11078 Direct
Employee Stock Option (right to buy) $22.87 2017-01-05 Common Stock (8356) 8356 Direct
Employee Stock Option (right to buy) $26.5 2018-01-04 Common Stock (7211) 7211 Direct
Employee Stock Option (right to buy) $28.51 2019-01-05 Common Stock (6703) 6703 Direct
Employee Stock Option (right to buy) $21.65 2020-01-05 Common Stock (8827) 8827 Direct
Employee Stock Option (right to buy) $32.31 2021-01-05 Common Stock (5915) 5915 Direct
Employee Stock Option (right to buy) $38.35 2022-01-05 Common Stock (4983) 4983 Direct

Footnotes

F1: The reporting person disclaims beneficial ownership of these shares.

F2: Constitutes a substitution of property within certain GRAT agreements.

F3: This option became fully exercisable on January 5, 2009.

F4: This option became fully exercisable on January 5, 2011.

F5: This option became fully exercisable on January 5, 2012.

F6: This option becomes fully exercisable on January 4, 2013.

F7: This option becomes fully exercisable on January 5, 2014.

F8: This option becomes fully exercisable on January 5, 2015.

F9: This option becomes fully exercisable on January 5, 2016.

F10: This option becomes fully exercisable on January 5, 2017.