NATIONAL RESEARCH CORP — Director's Dealing 2021

Mar 25, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RESEARCH CORP (NRC)
CIK: 0000070487
Period of Report: 2018-09-24

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-09-24	Common Stock	S	3700	$38.2286	Disposed	10684	Direct
2018-09-24	Common Stock	S	300	$39.0583	Disposed	10384	Direct
2021-03-23	Common Stock	M	5334	$18.80	Acquired	15718	Direct
2021-03-23	Common Stock	M	19313	$13.17	Acquired	35031	Direct
2021-03-23	Common Stock	F	12735	$45.55	Disposed	22296	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-23	Employee Stock Option (Right to Buy)	$18.80	M	5334	Disposed	2024-01-07	Common Stock (5334)	Direct
2021-03-23	Employee Stock Option (Right to Buy)	$13.17	M	19313	Disposed	2025-01-06	Common Stock (19313)	Direct

Footnotes

F1: The price in Column 4 is a weighted average. The prices actually ranged from $38.00 to $38.70, 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) of this Form 4.

F2: The price in Column 4 is a weighted average price. The prices actually ranged from $39.025 to $39.075, inclusive.

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

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