NATIONAL RESEARCH CORP — Director's Dealing 2020

Jun 9, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RESEARCH CORP (NRC)
CIK: 0000070487
Period of Report: 2020-06-05

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-06-05	Common Stock	S	6858	$57.2830	Disposed	10718	Direct
2020-06-05	Common Stock	S	6718	$58.6228	Disposed	4000	Direct
2020-06-05	Common Stock	M	20088	$14.50	Acquired	24088	Direct
2020-06-05	Common Stock	F	9704	$57.22	Disposed	14384	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-06-05	Employee Stock Option (Right to Buy)	$14.50	M	20088	Disposed	2023-01-07	Common Stock (20088)	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $57.00 to $57.80, inclusive. The reporting person has provided 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 ranges set forth in footnotes (1) and (2) to this Form 4.

F2: The price in Column 4 is a weighted average price. The prices actually received ranged from $58.00 to $58.93, inclusive.

F3: This option became fully exercisable on January 7, 2018.