X0303 4 2010-12-01 1 0000070487 NATIONAL RESEARCH CORP NRCI 0001484742 TRUST CREATED UNDER THE MICHAEL D. HAYS 2010 TWO-YEAR GRAT AGREEMENT DATED FEBRUARY 8, 2010 C/O JEFFERY T. PEETZ, WOODS & AITKEN LLP 301 S. 13TH ST., SUITE 500 LINCOLN NE 68508 0 0 1 0 0001460580 Peetz Jeffery T WOODS & AITKEN LLP 301 S. 13TH ST., SUITE 500 LINCOLN NE 68508 0 0 1 0 Common Stock 2010-12-01 4 S 0 1250000 29.215 D 0 D This Form 4 is being filed by Jeffery T. Peetz, as Special Holdings Direction Adviser under the Michael D. Hays 2010 Two-Year GRAT Agreement dated February 8, 2010 (the "Trust Agreement"), and the Trust created under the Trust Agreement. /s/ Jeffery T. Peetz, Special Holdings Direction Adviser 2010-12-03 /s/ Jeffery T. Peetz, as Special Holdings Direction Adviser 2010-12-03