NATIONAL RESEARCH CORP — Director's Dealing 2017

Jun 27, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RESEARCH CORP (NRCIA/B)
CIK: 0000070487
Period of Report: 2017-06-23

Reporting Person: NUNNELLY JOHN N (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-06-23	Class A Common Stock	M	7013	$7.78	Acquired	35713	Direct
2017-06-23	Class A Common Stock	F	2013	$27.10	Disposed	33700	Direct
2017-06-23	Class A Common Stock	S	5000	$26.9263	Disposed	28700	Direct
2017-06-26	Class A Common Stock	M	3653	$7.78	Acquired	32353	Direct
2017-06-26	Class A Common Stock	F	1050	$27.05	Disposed	31303	Direct
2017-06-26	Class A Common Stock	M	2827	$7.61	Acquired	34130	Direct
2017-06-26	Class A Common Stock	F	795	$27.05	Disposed	33335	Direct
2017-06-26	Class A Common Stock	S	4635	$27.462	Disposed	28700	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-06-23	Director Stock Option (Right to Buy)	$7.78	M	7013	Disposed	2019-05-08	Class A Common Stock (7013)	Direct
2017-06-26	Director Stock Option (Right to Buy)	$7.78	M	3653	Disposed	2019-05-08	Class A Common Stock (3653)	Direct
2017-06-26	Director Stock Option (Right to Buy)	$7.61	M	2827	Disposed	2020-05-07	Class A Common Stock (2827)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	3900	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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)	$14.21	2025-05-07	Class A Common Stock (36000)	36000	Direct
Director Stock Option (Right to Buy)	$14.19	2026-05-11	Class A Common Stock (36000)	36000	Direct
Director Stock Option (Right to Buy)	$24.35	2027-05-09	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
Director Stock Option (Right to Buy)	$34.50	2025-05-07	Class B Common Stock (6000)	6000	Direct
Director Stock Option (Right to Buy)	$37.78	2026-05-11	Class B Common Stock (6000)	6000	Direct
Director Stock Option (Right to Buy)	$44.47	2027-05-09	Class B Common Stock (6000)	6000	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $26.85 to $27.05. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.

F2: The price in Column 4 is a weighted average price. The prices actually received ranged from $27.25 to $27.675. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.