NATIONAL RESEARCH CORP — Director's Dealing 2022

May 20, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RESEARCH CORP (NRC)
CIK: 0000070487
Period of Report: 2022-05-18

Reporting Person: Bhandari Parul (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-05-18	Director Stock Option (Right to Buy)	$32.46	A	12078	Acquired	2032-05-18	Common Stock (12078)	Direct
2022-05-18	Director Stock Option (Right to Buy)	$32.46	A	12078	Acquired	2032-05-18	Common Stock (12078)	Direct

Footnotes

F1: This award is an annual grant to the reporting person made under the Issuer's 2004 Non-Employee Director Stock Plan (the "Plan") on the date of the Issuer's 2022 annual shareholder meeting. In accordance with the terms of the Plan, the award will vest and become exercisable on the date immediately preceding the date of the Issuer's next annual shareholder meeting, subject to certain exceptions provided in the Plan.

F2: This award is a discretionary grant to the reporting person made under the Plan on the date of the Issuer's 2021 annual shareholder meeting in connection with the reporting person's appointment as a director of the Issuer. In accordance with the terms of the Plan, the award will vest and become exercisable on the date immediately preceding the date of the Issuer's next annual shareholder meeting, subject to certain exceptions provided in the Plan.