NATIONAL RESEARCH CORP — Director's Dealing 2025

May 9, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL RESEARCH CORP (NRC)
CIK: 0000070487
Period of Report: 2025-05-07

Reporting Person: NUNNELLY JOHN N (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-07	Director Stock Option (Right to Buy)	$13.09	A	34917	Acquired	2035-05-07	Common Stock (34917)	Direct

Footnotes

F1: This award is an annual grant to the reporting person made under the Issuer's 2025 Omnibus Incentive Plan on the date of the Issuer's 2025 annual shareholder meeting. The award will vest and become exercisable on the date immediately preceding the date of the Issuer's next annual shareholder meeting, subject to vesting, forfeiture, and termination provisions.