X0306 4 2018-01-02 0 0000070487 NATIONAL RESEARCH CORP NRCIA/B 0001053133 Hays Michael D. C/O NATIONAL RESEARCH CORPORATION 1245 "Q" STREET LINCOLN NE 68508 1 1 1 0 CEO Class A Common Stock 2018-01-02 4 M 0 21633 7.59 A 5271587 D Class A Common Stock 2018-01-02 4 F 0 10177 36.80 D 5261410 D Class A Common Stock 138970 I By Spouse Class A Common Stock 75 I By Spouse & Daughter Jt Class B Common Stock 2017-12-27 4 G 0 15000 0 D 1958205 D Class B Common Stock 2017-12-28 4 G 0 74000 0 D 1884205 D Class B Common Stock 125 I By Spouse Class B Common Stock 12 I By Spouse & Daughter Jt Employee Stock Option (right to buy) 7.59 2018-01-02 4 M 0 21633 0 D 2018-01-04 Class A Common Stock 21633 0 D Employee Stock Option (right to buy) 8.12 2019-01-05 Class A Common Stock 20109 20109 D Employee Stock Option (right to buy) 6.29 2020-01-05 Class A Common Stock 26481 26481 D Employee Stock Option (right to buy) 9.14 2021-01-05 Class A Common Stock 17745 17745 D Employee Stock Option (right to buy) 10.75 2022-01-05 Class A Common Stock 14949 14949 D Employee Stock Option (right to buy) 14.50 2023-01-07 Class A Common Stock 10938 10938 D Employee Stock Option (right to buy) 18.80 2024-01-07 Class A Common Stock 2904 2904 D Employee Stock Option (right to buy) 13.17 2025-01-06 Class A Common Stock 10014 10014 D Employee Stock Option (right to buy) 15.23 2026-01-05 Class A Common Stock 9145 9145 D Employee Stock Option (right to buy) 18.8 2027-01-04 Class A Common Stock 7478 7478 D Employee Stock Option (right to buy) 36.80 2018-01-03 4 A 0 5193 0 A 2028-01-03 Class A Common Stock 5193 5193 D Employee Stock Option (right to buy) 21.5 2022-01-05 Class B Common Stock 2491 2491 D Employee Stock Option (right to buy) 27.13 2023-01-07 Class B Common Stock 1823 1823 D Employee Stock Option (right to buy) 34.15 2024-01-07 Class B Common Stock 266 266 D Employee Stock Option (right to buy) 35.48 2025-01-06 Class B Common Stock 1669 1669 D Employee Stock Option (right to buy) 34 2026-01-05 Class B Common Stock 1524 1524 D Employee Stock Option (right to buy) 40.54 2027-01-04 Class B Common Stock 1246 1246 D The reporting person disclaims beneficial ownership of these shares. This option became fully exercisable on January 4, 2013. This option became fully exercisable on January 5, 2014. This option became fully exercisable on January 5, 2015. This option became fully exercisable on January 5, 2016. This option became fully exercisable on January 5, 2017. This option becomes fully exercisable on January 7, 2018. This option becomes fully exercisable on January 7, 2019. This option becomes fully exercisable on January 6, 2020. This option becomes fully exercisable on January 5, 2021. This option becomes fully exercisable on January 4, 2022. This option becomes fully exercisable on January 3, 2023. /s/ Russell E. Ryba, Attorney-In-Fact for Michael D. Hays 2018-01-04