Form 4: NRC EVP & CFO Harrison Awarded 172,000 Restricted Shares

Shane R. Harrison, Executive Vice President and Chief Financial Officer of National Research Corp, was granted 172,000 restricted shares of common stock.

Summary

• Shane R. Harrison, EVP & Chief Financial Officer of National Research Corp (NRC), acquired 172,000 shares of common stock.
• The transaction date for this acquisition was September 29, 2025.
• These shares are restricted and were issued under the National Research Corporation 2025 Omnibus Incentive Plan.
• The restricted shares will vest in four equal installments on December 28, 2025, September 29, 2026, September 29, 2027, and September 29, 2028.
• Following this transaction, Mr. Harrison beneficially owns 172,000 shares of common stock directly.

Sentiment

Score: 7

Explanation: The sentiment is positive for the executive, as it represents a significant equity award. For the company, it's neutral to slightly positive, as it's a standard compensation practice aimed at retaining and incentivizing key management, aligning their interests with long-term company performance.

Positives

• The award of restricted stock aligns the executive's interests with those of shareholders, incentivizing long-term performance.
• The grant is part of an established incentive plan, indicating a structured approach to executive compensation.

Future Outlook

The filing does not contain forward-looking statements regarding company performance or financial guidance, focusing solely on an insider stock transaction.

Industry Context

This type of restricted stock award is a common practice in executive compensation across various industries, designed to retain key talent and align management incentives with long-term shareholder value creation.

Comparison to Industry Standards

• The use of restricted stock units as a component of executive compensation is a standard practice, comparable to incentive plans at companies like Medtronic, Cerner (now Oracle Health), or Press Ganey, which also utilize equity awards to incentivize leadership in the healthcare technology and patient experience sectors.

Corporate Governance

Stakeholder Impact

• Shareholders: Potential for minor dilution from the issuance of new shares, but also benefit from incentivized management focused on long-term value creation.
• Employees (Executive): Direct positive impact through a significant equity award, enhancing personal wealth and aligning career incentives with company success.

Next Steps

• The restricted shares will vest in four equal installments on December 28, 2025, September 29, 2026, September 29, 2027, and September 29, 2028, subject to continued employment and other plan provisions.

Key Dates

Recommendation

This Form 4 filing reports a routine insider transaction involving a restricted stock award to an executive as part of an incentive plan. It does not provide new information about the company's financial performance, strategic direction, or market conditions that would warrant a change in investment recommendation. Such awards are standard practice for executive compensation and typically do not significantly influence short-term stock price movements or alter the fundamental investment thesis.

Keywords

National Research Corp, NRC, Shane R. Harrison, Restricted Stock, Executive Compensation, Insider Transaction, Form 4, Omnibus Incentive Plan