NATIONAL RESEARCH CORP — Director's Dealing 2019

Jan 7, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RESEARCH CORP (NRC)
CIK: 0000070487
Period of Report: 2019-01-03

Reporting Person: Karas Kevin R (SVP Finance, CFO, Treas & Secy)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-01-03	Employee Stock Option (right to buy)	$38.30	A	11162	Acquired	2029-01-03	Common Stock (11162)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14016	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$10.75	2022-01-05	Common Stock (26403)	26403	Direct
Employee Stock Option (right to buy)	$14.50	2023-01-07	Common Stock (20088)	20088	Direct
Employee Stock Option (right to buy)	$18.80	2024-01-07	Common Stock (5334)	5334	Direct
Employee Stock Option (right to buy)	$13.17	2025-01-06	Common Stock (19313)	19313	Direct
Employee Stock Option (right to buy)	$15.23	2026-01-05	Common Stock (20458)	20458	Direct
Employee Stock Option (right to buy)	$18.8	2027-01-04	Common Stock (16728)	16728	Direct
Employee Stock Option (right to buy)	$36.8	2028-01-03	Common Stock (11617)	11617	Direct

Footnotes

F1: This option became fully exercisable on January 5, 2017.

F2: This option became fully exercisable on January 7, 2018.

F3: This option becomes fully exercisable on January 7, 2019.

F4: This option becomes fully exercisable on January 6, 2020.

F5: This option becomes fully exercisable on January 5, 2021.

F6: This option becomes fully exercisable on January 4, 2022.

F7: This option becomes fully exercisable on January 3, 2023.

F8: This option becomes fully exercisable on January 3, 2024.