NATIONAL RESEARCH CORP — Director's Dealing 2012

Feb 7, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RESEARCH CORP (NRCI)
CIK: 0000070487
Period of Report: 2012-01-05

Reporting Person: Henricks Susan L (President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-05	Common Stock	A	7823	—	Acquired	7823	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$42.00	2021-07-05	Common Stock (50000)	50000	Direct

Footnotes

F1: Restricted stock granted January 5, 2012 vests and becomes fully exercisable on January 5, 2017.

F2: This option becomes fully exercisable on July 5, 2016.