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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
70487	National Research Corp	NRCI	Services-Commercial Physical & Biological Research (8731)	470634000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1053133	D. Michael Hays	C/O National Research Corporation 1245 &Quot;Q&Quot; Street Lincoln NE 68508	Ceo	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Disposition	2013-06-04	5,000,000	$14.15	5,836,300	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock	375,750	Indirect	By Spouse
Class A Common Stock	75	Indirect	By Spouse & Daughter Jt
Class B Common Stock	1,806,050	Direct
Class B Common Stock	62,625	Indirect	By Spouse
Class B Common Stock	12	Indirect	By Spouse & Daughter Jt

Footnotes

On May 22, 2013, the Issuer completed a recapitalization pursuant to which it, among other things, issued a stock dividend of three shares of class A common stock for each share of then-existing common stock and reclassified each share of its then-existing common stock as one-half of one share of class B common stock. All fractional shares of class B common stock were cashed-out in the recapitalization.
Shares were sold to The Michael and Karen Hays Grandchildren's Trust Dated March 9, 2009 in return for a promissory note.
Does not include 375,000 shares of class A common stock currently held in a certain GRAT agreement, all or a portion of which will be returned to Mr. Hays over the next two years.
Does not include 375,000 shares of class A common stock currently held in a certain GRAT agreement, all or a portion of which will be returned to Mr. Hays' spouse over the next two years.
The reporting person disclaims beneficial ownership of these shares.
Does not include 62,500 shares of class B common stock currently held in a certain GRAT agreement, all or a portion of which will be returned to Mr. Hays over the next two years.
Does not include 62,500 shares of class B common stock currently held in a certain GRAT agreement, all or a portion of which will be returned to Mr. Hays' spouse over the next two years.