NATIONAL RESEARCH CORP — Director's Dealing 2016

May 13, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RESEARCH CORP (NRCIA/B)
CIK: 0000070487
Period of Report: 2016-05-11

Reporting Person: Berwick Donald M (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-11	Director Stock Option (Right to Buy)	$14.19	A	36000	Acquired	2026-05-11	Class A Common Stock (36000)	Direct
2016-05-11	Director Stock Option (Right to Buy)	$37.78	A	6000	Acquired	2026-05-11	Class B Common Stock (6000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Director Stock Option (Right to Buy)	$15.19	2025-10-21	Class A Common Stock (36000)	36000	Direct
Director Stock Option (Right to Buy)	$32.09	2025-10-21	Class B Common Stock (6000)	6000	Direct