NRC National Research Corporation

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES                                                                                   
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940                       

1. Name and Address of Reporting Person * Karas Kevin R	2. Issuer Name and Ticker or Trading Symbol NATIONAL RESEARCH CORP [ NRC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                    _____ 10% Owner __X__ Officer (give title below)    _____ Other (specify below) SVP Finance, CFO, Treas & Secy
(Last)          (First)          (Middle) C/O NATIONAL RESEARCH CORPORATION, 1245 "Q" STREET	3. Date of Earliest Transaction (MM/DD/YYYY) 9/5/2019
(Street) LINCOLN, NE 68508 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	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. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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
Common Stock	9/5/2019		S		2937	D	$63.4309 (1)	24655	D
Common Stock	9/5/2019		S		4177	D	$64.3424 (2)	20478	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		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 of Derivative Security: 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
Employee Stock Option (right to buy)	$14.50							(3)	1/7/2023	Common Stock	20088		20088	D
Employee Stock Option (right to buy)	$18.80							(4)	1/7/2024	Common Stock	5334		5334	D
Employee Stock Option (right to buy)	$13.17							(5)	1/6/2025	Common Stock	19313		19313	D
Employee Stock Option (right to buy)	$15.23							(6)	1/5/2026	Common Stock	20458		20458	D
Employee Stock Option (right to buy)	$18.8							(7)	1/4/2027	Common Stock	16728		16728	D
Employee Stock Option (right to buy)	$36.8							(8)	1/3/2028	Common Stock	11617		11617	D
Employee Stock Option (right to buy)	$38.30							(9)	1/3/2029	Common Stock	11162		11162	D

Explanation of Responses:
(1)	The price in Column 4 is a weighted average price. The prices actually received ranged from $63.00 to $63.60. 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.
(2)	The price in Column 4 is a weighted average price. The prices actually received ranged from $64.00 to $64.55. 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.
(3)	This option became fully exercisable on January 7, 2018.
(4)	This option became fully exercisable on January 7, 2019.
(5)	This option becomes fully exercisable on January 6, 2020.
(6)	This option becomes fully exercisable on January 5, 2021.
(7)	This option becomes fully exercisable on January 4, 2022.
(8)	This option becomes fully exercisable on January 3, 2023.
(9)	This option becomes fully exercisable on January 3, 2024.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Karas Kevin R C/O NATIONAL RESEARCH CORPORATION 1245 "Q" STREET LINCOLN, NE 68508			SVP Finance, CFO, Treas & Secy

Signatures
/s/ Russell E. Ryba, Attorney-In-Fact for Kevin R. Karas		9/6/2019
**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 control number.

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