Welcome to our dedicated page for National Resh SEC filings (Ticker: NRC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The SEC filings page for National Research Corporation (NRC Health, NASDAQ: NRC) provides direct access to the company’s official U.S. Securities and Exchange Commission documents, along with AI-powered summaries to help interpret them. As a Delaware corporation and public company, NRC files current reports, periodic reports, and other disclosures that describe its financial condition, operations, and governance.
Among the most relevant filings for NRC Health are its annual reports on Form 10-K and quarterly reports on Form 10-Q, which present audited or reviewed financial statements, management’s discussion and analysis, and details about revenue, operating expenses, cash flows, and risk factors. Investors use these filings to understand trends in NRC Health’s healthcare experience management business, including subscription-based activity reflected in measures such as Total Recurring Contract Value (TRCV), and to see reconciliations for non-GAAP metrics like Adjusted EBITDA and Adjusted Net Income.
The company also files current reports on Form 8-K to announce material events. Recent 8-Ks reference press releases about quarterly financial and operating results and the appointment of an Executive Vice President and Chief Financial Officer, including a description of related compensation arrangements. These filings help readers track significant corporate developments between periodic reports.
On this page, AI-generated highlights summarize key points from lengthy filings, making it easier to locate information about earnings, capital allocation decisions such as dividends and share repurchases, and changes in leadership or governance. Users interested in executive roles, compensation structures, or other governance matters can review proxy-related disclosures when available, while those focused on trading activity can consult forms related to insider transactions, such as Form 4, when they are filed. Real-time updates from EDGAR ensure that new NRC Health filings appear here promptly, with plain-language explanations to support faster analysis.
National Research Corporation’s major holders updated their ownership disclosure. Common Property Trust reports beneficial ownership of 8,609,601 shares of common stock, or 37.9% of the company, while Patrick E. Beans reports beneficial ownership of 10,575,634 shares, or 46.5%, based on 22,746,397 shares outstanding.
The amendment records founder and chairman Michael D. Hays as beneficial owner of 847,299 shares, or 3.7%. It also notes that Hays has relinquished his right to reacquire 582,688 shares held by certain irrevocable family trusts and, as of March 23, 2026, is no longer a beneficial owner of more than 5% of the common stock, excluding specified trust and entity holdings he disclaims.
Rau Jason Russell reported acquisition or exercise transactions in this Form 4 filing.
National Research Corp Executive Vice President Jason Russell Rau received a grant of 60,000 shares of common stock. The shares were awarded at no cash cost to him and are structured as restricted stock under the National Research Corporation 2025 Omnibus Incentive Plan.
The restricted shares vest in three equal installments on January 1 of 2027, 2028, and 2029, subject to vesting, forfeiture, and termination provisions. Following this award, Rau holds 60,000 shares directly, reflecting a compensation-related equity grant rather than an open-market purchase.
National Research Corporation (NRC Health) reports weaker 2025 results as revenue declined to $137,390 (in thousands) from $143,060 and operating income fell to $22,590 from $35,194. Operating margin compressed to 16% from 25%, reflecting lower new sales and retention prior to 2025 plus severance and compensation tied to management changes.
Cash provided by operating activities decreased to $26,450 (in thousands) from 34,625. Offsetting this, Total Recurring Contract Value rose to $144,143 from 133,218, helped by better retention and sales to new and existing customers. The company highlights new leadership, AI-enabled solutions, an acquired rounding tool, and efficiency initiatives as foundations for expected revenue, margin, and cash flow growth in 2026 while continuing to focus on subscription-based healthcare experience and governance solutions.
National Research Corporation, doing business as NRC Health, reported that its Total Recurring Contract Value (TRCV) has surpassed $152 million as of March 4, 2026, an all‑time high for the company.
The company said TRCV, which reflects projected revenue over the next 12 months from renewable contracts, increased 6% since the end of 2025 and 13% year‑over‑year. Management framed this growth as evidence of strong, long‑term relationships with health system partners, but emphasized that this update does not represent complete financial results for the quarter ended March 31, 2026.
National Research Corp EVP & CFO buys company stock
Shane R. Harrison, Executive Vice President and Chief Financial Officer of National Research Corp, reported an open-market purchase of 8,000 shares of common stock on February 17, 2026 at a weighted average price of $12.2703 per share through an IRA account, which is reported as indirect ownership.
After these transactions, Harrison also reported 150,729 shares of National Research Corp common stock held as direct ownership, reflecting his ongoing equity stake in the company.
National Research Corp director Stephen H. Lockhart reported receiving a grant of director stock options. On 01/22/2026, he was awarded 8,819 stock options with an exercise price of $22.01 per share under the company’s 2025 Omnibus Incentive Plan.
The options became exercisable on 01/22/2026 and expire on 01/22/2036. The grant was made as compensation for his participation in two in-person board meetings held after the 2025 Annual Meeting of Stockholders.
National Research Corp director Parul Bhandari received a grant of 8,819 director stock options on January 22, 2026 under the company’s 2025 Omnibus Incentive Plan for participating in two in-person board meetings since the 2025 annual stockholders meeting.
The options have an exercise price of $22.01 per share, relate to the company’s common stock, and expire on January 22, 2036. Following this award, Bhandari directly beneficially owns 8,819 derivative securities (stock options).
National Research Corp received an amended Schedule 13G/A reporting significant institutional ownership of its ordinary shares (CUSIP 637372202) as of December 31, 2025. Kayne Anderson Rudnick Investment Management, LLC reports beneficial ownership of 2,657,832 shares, representing 11.7% of the class. It has sole voting power over 458,587 shares and shared voting power over 2,176,636 shares, with similar levels of dispositive power.
Virtus Investment Advisers, LLC reports beneficial ownership of 1,739,966 shares, or 7.7% of the class, all with shared voting and dispositive power. Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund reports 1,708,009 shares, or 7.5%, also entirely with shared voting and dispositive power. The filers certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of National Research Corp.
National Research Corporation is registering 14,524,566 shares of common stock for potential resale by selling shareholders under a Rule 424(b)(7) prospectus supplement.
This Prospectus Supplement No. 2 updates the selling shareholders table to reflect estate planning transfers and prior sales. It lists each holder’s beneficial ownership before the offering, the shares that may be sold, and estimated ownership afterward, assuming all offered shares are sold. Percentage data are based on 22,657,421 shares outstanding as of October 31, 2025.
National Research Corporation filed a current report to furnish a press release announcing its financial and operating results for the fourth quarter and full year ended December 31, 2025. The press release is attached as Exhibit 99.1 and is incorporated by reference into this report.
The company states that the information under the results and exhibits sections is being furnished, not filed, under securities laws. It also notes that the materials may include forward-looking statements, which are subject to risks and uncertainties described in its press releases and SEC filings.