National Research Corp (NRC) director receives 8,819 stock options grant

Rhea-AI Filing Summary

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).

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

OMB APPROVAL

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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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bhandari Parul

(Last) (First) (Middle)

C/O NATIONAL RESEARCH CORPORATION

1245 Q STREET

(Street)

LINCOLN NE 68508

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NATIONAL RESEARCH CORP [ NRC ]

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)
01/22/2026

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

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)(1)	$22.01	01/22/2026		A		8,819		01/22/2026	01/22/2036	Common Stock	8,819	$0	8,819	D

Explanation of Responses:

1. This award is a grant to the reporting person made under the Issuer's 2025 Omnibus Incentive Plan for participating in two in-person meetings since the 2025 Annual Meeting of Stockholders.

	/s/ Parul Bhandari, by Heidi Hornung-Scherr, attorney-in-fact, pursuant to a POA previously filed with the SEC	02/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did NRC disclose for director Parul Bhandari?

National Research Corp disclosed that director Parul Bhandari received a grant of 8,819 director stock options. The award was made under the 2025 Omnibus Incentive Plan as compensation for attending two in-person board meetings since the 2025 annual stockholders meeting.

What are the key terms of Parul Bhandaris NRC stock option grant?

The grant consists of 8,819 director stock options with an exercise price of $22.01 per share. The options were granted on January 22, 2026, relate to NRC common stock, and are scheduled to expire on January 22, 2036 if not exercised.

How many NRC derivative securities does Parul Bhandari own after this Form 4?

After this reported grant, Parul Bhandari beneficially owns 8,819 derivative securities in National Research Corp. These are director stock options held with direct ownership, all stemming from the January 22, 2026 award reported in the filing.

Why did National Research Corp grant stock options to director Parul Bhandari?

The stock option award compensates Parul Bhandari for board service. It was granted under NRCs 2025 Omnibus Incentive Plan specifically for participating in two in-person meetings held after the 2025 Annual Meeting of Stockholders, according to the filing footnote.

What is the expiration date of Parul Bhandaris NRC director stock options?

Parul Bhandaris 8,819 director stock options are scheduled to expire on January 22, 2036. The options were granted on January 22, 2026 and give the right to buy National Research Corp common stock at an exercise price of $22.01 per share.

Is Parul Bhandaris NRC stock option grant a purchase of common shares?

No, the transaction is a grant of derivative securities, not a market purchase of common stock. Bhandari received 8,819 director stock options under the 2025 Omnibus Incentive Plan, which provide the right to buy NRC common shares at $22.01 in the future.