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NATIONAL RESEARCH CORP Director's Dealing 2018

May 23, 2018

33341_dirs_2018-05-23_7a0084d3-0ba8-4c5d-8b18-377e8cbd308d.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: 2018-05-21

Reporting Person: NUNNELLY JOHN N (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2018-05-21 Common Stock M 12794 $14.95 Acquired 44688 Direct
2018-05-21 Common Stock F 5504 $34.75 Disposed 39184 Direct
2018-05-21 Common Stock S 7290 $34.6627 Disposed 31894 Direct
2018-05-22 Common Stock M 10881 $14.95 Acquired 42775 Direct
2018-05-22 Common Stock F 4770 $34.10 Disposed 38005 Direct
2018-05-22 Common Stock S 6111 $34.2995 Disposed 31894 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2018-05-21 Director Stock Option (Right to Buy) $14.95 M 12794 Disposed 2024-05-08 Common Stock (12794) Direct
2018-05-22 Director Stock Option (Right to Buy) $14.95 M 10881 Disposed 2024-05-08 Common Stock (10881) Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Director Stock Option (Right to Buy) $9.73 2021-05-06 Common Stock (28763) 28763 Direct

Footnotes

F1: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 29, 2018.

F2: The price in Column 4 is a weighted average price. The prices actually received ranged from $34.05 to $34.95. 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.

F3: The price in Column 4 is a weighted average price. The prices actually received ranged from $33.85 to $34.65. 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.