HARRISON SHANE R 4

What Happened
Shane R. Harrison, Chief Financial Officer of National Research Corp (NRC), had 21,271 shares disposed on 2025-12-29 to satisfy tax withholding related to an equity award or option event. The shares were valued at $18.66 each, for a total of approximately $396,917. This transaction is a tax-withholding disposition (routine) rather than an open-market sale indicating a change in investment view.

Key Details

• Transaction date: 2025-12-29; filing date: 2026-01-26 (filed ~28 days after the transaction).
• Price per share: $18.66; total value of shares disposed: ~$396,917.
• Transaction code: F — payment of exercise price or tax liability (shares withheld/disposed to cover taxes).
• Shares owned after the transaction: not specified in the provided filing.
• Filing timeliness: late relative to the typical Form 4 deadline (usually within 2 business days), which reduces near-term transparency.

Context
Code F typically means shares were withheld or transferred to cover tax obligations arising from an option exercise or equity vesting (a cashless settlement). These disposals are routine administrative actions and do not necessarily signal the insider’s view on the company’s stock. Purchases tend to be more informative about insider sentiment.