Nunnelly John N Form 4 NATIONAL RESEARCH / JOHN N NUNNELLY ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

NUNNELLY JOHN N

(Last) (First) (Middle)

P.O. BOX 2175

(Street)

AMHERST MA 01004

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NATIONAL RESEARCH CORP [ NRCIA/B ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/16/2017

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	06/16/2017		M		9,106	A	$7.78	37,806	D
Class A Common Stock	06/16/2017		F		2,576	D	$27.5	35,230	D
Class A Common Stock	06/16/2017		S		6,530	D	$27.543(1)	28,700	D
Class A Common Stock	06/19/2017		M		6,472	A	$7.78	35,172	D
Class A Common Stock	06/19/2017		F		1,834	D	$27.45	33,338	D
Class A Common Stock	06/19/2017		S		4,638	D	$27.5	28,700	D
Class B Common Stock								3,900	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Director Stock Option (Right to Buy)	$7.78	06/16/2017		M			9,106	05/08/2010	05/08/2019	Class A Common Stock	9,106	$0	20,457	D
Director Stock Option (Right to Buy)	$7.78	06/19/2017		M			6,472	05/08/2010	05/08/2019	Class A Common Stock	6,472	$0	13,985	D
Director Stock Option (Right to Buy)	$7.61							05/07/2011	05/07/2020	Class A Common Stock	36,000		36,000	D
Director Stock Option (Right to Buy)	$9.73							05/06/2012	05/06/2021	Class A Common Stock	36,000		36,000	D
Director Stock Option (Right to Buy)	$13.81							05/11/2013	05/11/2022	Class A Common Stock	36,000		36,000	D
Director Stock Option (Right to Buy)	$16.89							05/09/2014	05/09/2023	Class A Common Stock	36,000		36,000	D
Director Stock Option (Right to Buy)	$14.95							05/08/2015	05/08/2024	Class A Common Stock	36,000		36,000	D
Director Stock Option (Right to Buy)	$14.21							05/07/2016	05/07/2025	Class A Common Stock	36,000		36,000	D
Director Stock Option (Right to Buy)	$14.19							05/11/2017	05/11/2026	Class A Common Stock	36,000		36,000	D
Director Stock Option (Right to Buy)	$24.35							05/09/2018	05/09/2027	Class A Common Stock	36,000		36,000	D
Director Stock Option (Right to Buy)	$16.8							05/07/2011	05/07/2020	Class B Common Stock	6,000		6,000	D
Director Stock Option (Right to Buy)	$19.98							05/06/2012	05/06/2021	Class B Common Stock	6,000		6,000	D
Director Stock Option (Right to Buy)	$26.1							05/11/2013	05/11/2022	Class B Common Stock	6,000		6,000	D
Director Stock Option (Right to Buy)	$30.72							05/09/2014	05/09/2023	Class B Common Stock	6,000		6,000	D
Director Stock Option (Right to Buy)	$43.91							05/08/2015	05/08/2024	Class B Common Stock	6,000		6,000	D
Director Stock Option (Right to Buy)	$34.5							05/07/2016	05/07/2025	Class B Common Stock	6,000		6,000	D
Director Stock Option (Right to Buy)	$37.78							05/11/2017	05/11/2026	Class B Common Stock	6,000		6,000	D
Director Stock Option (Right to Buy)	$44.47							05/09/2018	05/09/2027	Class B Common Stock	6,000		6,000	D

Explanation of Responses:

1. The price in Column 4 is a weighted average price. The prices actually received ranged from $27.50 to $27.65. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.

	/s/ Russell E. Ryba, Attorney-in-Fact for John N. Nunnelly	06/20/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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