NATIONAL RESEARCH CORP — Director's Dealing 2015

May 11, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RESEARCH CORP (NRCIA/B)
CIK: 0000070487
Period of Report: 2015-05-07

Reporting Person: NUNNELLY JOHN N (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-05-07	Director Stock Option (Right to Buy)	$14.21	A	36000	Acquired	2025-05-07	Class A Common Stock (36000)	Direct
2015-05-07	Director Stock Option (Right to Buy)	$34.50	A	6000	Acquired	2025-05-07	Class B Common Stock (6000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	28700	Direct
Class B Common Stock	3900	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Director Stock Option (Right to Buy)	$7.78	2019-05-08	Class A Common Stock (36000)	36000	Direct
Director Stock Option (Right to Buy)	$7.61	2020-05-07	Class A Common Stock (36000)	36000	Direct
Director Stock Option (Right to Buy)	$9.73	2021-05-06	Class A Common Stock (36000)	36000	Direct
Director Stock Option (Right to Buy)	$13.81	2022-05-11	Class A Common Stock (36000)	36000	Direct
Director Stock Option (Right to Buy)	$16.89	2023-05-09	Class A Common Stock (36000)	36000	Direct
Director Stock Option (Right to Buy)	$14.95	2024-05-08	Class A Common Stock (36000)	36000	Direct
Director Stock Option (Right to Buy)	$16.8	2020-05-07	Class B Common Stock (6000)	6000	Direct
Director Stock Option (Right to Buy)	$19.98	2021-05-06	Class B Common Stock (6000)	6000	Direct
Director Stock Option (Right to Buy)	$26.1	2022-05-11	Class B Common Stock (6000)	6000	Direct
Director Stock Option (Right to Buy)	$30.72	2023-05-09	Class B Common Stock (6000)	6000	Direct
Director Stock Option (Right to Buy)	$43.91	2024-05-08	Class B Common Stock (6000)	6000	Direct