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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>As filed with the
Securities and Exchange Commission on November 16, 2004 </FONT></H1>

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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Registration No. 333-</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED
STATES<BR>SECURITIES AND EXCHANGE COMMISSION  <BR>Washington, D.C. 20549  </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM S-8<BR>REGISTRATION
STATEMENT  <BR>Under  <BR>THE SECURITIES ACT OF 1933  </FONT></H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>NATIONAL RESEARCH
CORPORATION </B> <BR>(Exact name of registrant as specified in its charter) </FONT></P>


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     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Wisconsin</B></FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>47-0634000</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(State or other jurisdiction</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(I.R.S. Employer</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>of incorporation or organization)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Identification No.)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><B>1245 Q Street</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Lincoln, Nebraska</B></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>68508</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Address of principal executive offices)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Zip Code)</FONT></TD></TR>
</TABLE>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>National Research
Corporation 2001 Equity Incentive Plan</B><BR>(Full title of the plan)  </FONT></P>


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     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Michael D. Hays</B></FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>President and Chief Executive Officer</B></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Copy to:</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>National Research Corporation</B></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Benjamin F. Garmer, III</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>1245 Q Street</B></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Russell E. Ryba</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Lincoln, Nebraska 68508</B></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Foley &amp; Lardner LLP</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>(402) 475-2525</B></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>777 East Wisconsin Avenue</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Name, address and telephone number, including area</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Milwaukee, Wisconsin 53202</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>code, of agent for service)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>(414) 271-2400</B></FONT></TD></TR>
</TABLE>
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     <TD ALIGN=CENTER COLSPAN=5><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CALCULATION OF REGISTRATION FEE</FONT><HR WIDTH=100% SIZE=2 COLOR=BLACK NOSHADE></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Title of Securities<BR>
to be Registered</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amount to be<BR>
Registered(1)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proposed Maximum<BR>
Offering Price Per<BR>
Share(2)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proposed Maximum<BR>
Aggregate Offering<BR>
Price(2)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amount of<BR>
Registration Fee</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=16% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Stock,</FONT></TD>
     <TD WIDTH=21% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>600,000 Shares</FONT></TD>
     <TD WIDTH=21% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$16.25</FONT></TD>
     <TD WIDTH=21% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$9,750,000</FONT></TD>
     <TD WIDTH=21% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$1,235.33</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;$.001 par value</FONT></TD></TR>
<TR>
     <TD COLSPAN=5><HR NOSHADE COLOR=#000000 SIZE=1></TD></TR>
</TABLE>



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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant
to Rule 416(a) under the Securities Act of 1933, this Registration
               Statement also covers an indeterminate number of additional shares of
Common                Stock that may become issuable as a result of stock splits, stock
dividends or                similar transactions pursuant to the anti-dilution provisions
of the 2001 Equity                Incentive Plan.  </FONT></TD>
</TR>
</TABLE>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Estimated
pursuant to Rule&nbsp;457(c) and (h) under the Securities Act of 1933
               solely for the purpose of calculating the registration fee based on the
average                of the high and low prices for National Research Corporation
Common Stock as                reported on the Nasdaq National Market on November 10,
2004.  </FONT></TD>
</TR>
</TABLE>
<BR>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PART I </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INFORMATION REQUIRED
IN THE SECTION&nbsp;10(a) PROSPECTUS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
document or documents containing the information specified in Part I are not required to
be filed with the Securities and Exchange Commission (the &#147;Commission&#148;) as part
of this Form&nbsp;S-8 Registration Statement. </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PART II </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT </FONT></H1>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 3.&nbsp;&nbsp;&nbsp;&nbsp;<U>Incorporation of Documents
by Reference</U>. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following documents filed by National Research Corporation (the &#147;Company&#148;) with
the Commission are hereby incorporated herein by reference: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;          The
Company&#146;s Annual Report on Form&nbsp;10-K for the year ended           December&nbsp;31,&nbsp;2003.  </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;          The
Company&#146;s Quarterly Reports on Form&nbsp;10-Q for the quarters ended           March&nbsp;31,&nbsp;2004,
June 30, 2004 and September 30, 2004.  </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;          The
description of the Company&#146;s Common Stock contained in Item 1 of the
          Company&#146;s Registration Statement on Form 8-A, dated October 2, 1999, and
          any amendment or report filed for the purpose of updating such description.  </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
documents subsequently filed by the Company pursuant to Sections&nbsp;13(a), 13(c), 14 or
15(d) of the Securities Exchange Act of 1934, as amended, after the date of filing of this
Registration Statement and prior to such time as the Company files a post-effective
amendment to this Registration Statement which indicates that all securities offered
hereby have been sold or which deregisters all securities then remaining unsold shall be
deemed to be incorporated by reference in this Registration Statement and to be a part
hereof from the date of filing of such documents. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 4.&nbsp;&nbsp;&nbsp;&nbsp;<U>Description of
Securities</U>. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>



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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 5.&nbsp;&nbsp;&nbsp;&nbsp;<U>Interests of
Named Experts and Counsel</U>. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>



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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 6.&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification
of Directors and Officers</U>. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the provisions of the Wisconsin Business Corporation Law, directors and officers of the
Registrant are entitled to mandatory indemnification from the Registrant against certain
liabilities (which may include liabilities under the Securities Act of 1933) and expenses
(i) to the extent such officers or directors are successful in the defense of a
proceeding; and (ii) in proceedings in which the director or officer is not successful in
defense thereof, unless it is determined that the director or officer breached or failed
to perform his or her duties to the Registrant and such breach or failure constituted: (a)
a willful failure to deal fairly with the Registrant or its shareholders in connection
with a matter in which the director or officer had a material conflict of interest; (b) a
violation of criminal law unless the director or officer had a reasonable cause to believe
his or her conduct was lawful or had no reasonable cause to believe his or her conduct was
unlawful; (c) a transaction from which the director or officer derived an improper
personal profit; or (d) willful misconduct. Additionally, under the Wisconsin Business
Corporation Law, directors of the Registrant are not subject to personal liability to the
Registrant, its shareholders or any person asserting rights on behalf thereof, for certain
breaches or failures to perform any duty resulting solely from their status as directors,
except in circumstances paralleling those outlined in (a) through (d) above. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registrant&#146;s By-Laws provided for indemnification and advancement of expenses of
officers and directors to the fullest extent provided by the Wisconsin Business
Corporation Law. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
indemnification provided by the Wisconsin Business Corporation Law and the
Registrant&#146;s By-Laws is not exclusive of any other rights to which a director or
officer of the Registrant may be entitled. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registrant also maintains director and officer liability insurance against certain claims
and liabilities which may be made against the Registrant&#146;s former, current or future
directors or officers. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 7.&nbsp;&nbsp;&nbsp;&nbsp;<U>Exemption from
Registration Claimed</U>. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
Applicable. </FONT></P>



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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 8.&nbsp;&nbsp;&nbsp;&nbsp;<U>Exhibits</U>. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following exhibits have been filed (except where otherwise indicated) as part of this
Registration Statement: </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exhibit&nbsp;No</U>.</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exhibit</U></FONT></TD>
</TR>
</TABLE>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.1) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Articles
of Incorporation of National Research Corporation, as amended to date
               [Incorporated by reference to Exhibit 3.1 to National Research
               Corporation&#146;s Registration Statement on Form S-1 (Registration No.
               333-33273)] </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.2) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By-Laws
of National Research Corporation, as amended to date [Incorporated by
               reference to Exhibit 3.2 to National Research Corporation&#146;s Annual
Report                on Form 10-K for the year ended December 31, 2003 (File No.
0-29466)] </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.3) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>National
Research Corporation 2001 Equity Incentive Plan [Incorporated by reference to Appendix A
to National Research Corporation's Proxy Statement for the 2002 Annual Meeting of
Shareholders filed on April 3, 2002 (file No. 0-29466)]</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.4) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of Nonqualified Stock Option Agreement (for new associates) used in
               connection with the 2001 Equity Incentive Plan </FONT></TD>
</TR>
</TABLE>
<BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3 </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exhibit&nbsp;No</U>.</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exhibit</U></FONT></TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.5) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of Nonqualified Stock Option Agreement (for officers) used in connection
               with the 2001 Equity Incentive Plan </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.6) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of Restricted Stock Agreement (one year vesting) used in connection with
               the 2001 Equity Incentive Plan </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.7) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of Restricted Stock Agreement (five year vesting) used in connection with
               the 2001 Equity Incentive Plan </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(5) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Opinion
of Foley &amp; Lardner LLP </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(23.1) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of KPMG LLP </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(23.2) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Foley &amp; Lardner LLP (contained in Exhibit&nbsp;(5) hereto) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(24) </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Power
of Attorney (included on the signature page hereto) </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.&nbsp;&nbsp;&nbsp;&nbsp;<U>Undertakings</U>. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
                    The undersigned Registrant hereby undertakes:  </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)
                    To file, during any period in which offers or sales are being made, a
                    post-effective amendment to this Registration Statement:  </FONT></P>



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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
                    To include any prospectus required by Section&nbsp;10(a)(3) of the
Securities                     Act of 1933, as amended;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)
                    To reflect in the prospectus any facts or events arising after the
effective                     date of the Registration Statement (or the most recent
post-effective amendment                     thereof) which, individually or in the
aggregate, represents a fundamental                     change in the information set
forth in the Registration Statement;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)
                    To include any material information with respect to the plan of
distribution not                     previously disclosed in the Registration Statement
or any material change to                     such information in the Registration
Statement;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>provided, however,</I> that
paragraphs&nbsp;(a)(1)(i) and (a)(1)(ii) do not apply if the information required to be
included in a post-effective amendment by those paragraphs is contained in periodic
reports filed with or furnished to the Securities and Exchange Commission by the
Registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Securities Exchange
Act of 1934, as amended, that are incorporated by reference in the Registration Statement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;          That,
for the purpose of determining any liability under the Securities Act of           1933,
as amended, each such post-effective amendment shall be deemed to be a new
          registration statement relating to the securities offered herein, and the
          offering of such securities at that time shall be deemed to be the initial bona
          fide offering thereof.  </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;          To
remove from registration by means of a post-effective amendment any of the
          securities being registered which remain unsold at the termination of the
          offering.  </FONT></P>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4 </FONT></P>

<!-- *************************************************************************** -->
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<HR SIZE=5 COLOR=GRAY NOSHADE>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;          The
undersigned Registrant hereby undertakes that, for purposes of determining           any
liability under the Securities Act of 1933, as amended, each filing of the
          Registrant&#146;s annual report pursuant to Section&nbsp;13(a) or
          Section&nbsp;15(d) of the Exchange Act (and, where applicable, each filing of
an           employee benefit plan&#146;s annual report pursuant to Section 15(d) of the
          Exchange Act) that is incorporated by reference in this Registration Statement
          shall be deemed to be a new registration statement relating to the securities
          offered herein, and the offering of such securities at that time shall be
deemed           to be the initial bona fide offering thereof.  </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;          Insofar
as indemnification for liabilities arising under the Securities Act of           1933, as
amended, may be permitted to directors, officers and controlling           persons of the
Registrant pursuant to the foregoing provisions, or otherwise,           the Registrant
has been advised that in the opinion of the Securities and           Exchange Commission
such indemnification is against public policy as expressed           in the Act and is,
therefore, unenforceable. In the event that a claim for           indemnification against
such liabilities (other than the payment by the           Registrant of expenses incurred
or paid by a director, officer or controlling           person of the Registrant in the
successful defense of any action, suit or           proceeding) is asserted by such
director, officer or controlling person in           connection with the securities being
registered, the Registrant will, unless in           the opinion of its counsel the
matter has been settled by controlling precedent,           submit to a court of
appropriate jurisdiction the question whether such           indemnification by it is
against public policy as expressed in the Act and will           be governed by the final
adjudication of such issue.  </FONT></P>

<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5 </FONT></P>


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<HR SIZE=5 COLOR=GRAY NOSHADE>



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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all the requirements for filing on Form S-8
and has duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Lincoln, State of Nebraska, on the
15<SUP>th</SUP> day of November, 2004. </FONT></P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>NATIONAL RESEARCH CORPORATION</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:&nbsp;&nbsp;<U>/s/ Michael D. Hays</U></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael D. Hays</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Chief Executive Officer</FONT></TD></TR>
</TABLE>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been
signed below by the following persons in the capacities and on the dates indicated. Each
person whose signature appears below constitutes and appoints Michael D. Hays and Patrick
E. Beans, and each of them individually, his attorneys-in-fact and agents, with full power
of substitution and resubstitution for him and in his name, place and stead, in any and
all capacities, to sign any and all amendments (including post-effective amendments) to
the Registration Statement and to file the same, with all exhibits thereto, and other
documents in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, and each of them, full power and authority to do
and perform each and every act and thing requisite and necessary to be done in connection
therewith, as fully to all intents and purposes as he might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or
their or his substitute or substitutes, may lawfully do or cause to be done by virtue
hereof. </FONT></P>





<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Signature</U></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Title</U></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Date</U></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=20% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><U>/s/ Michael D. Hays</U></FONT></TD>
     <TD WIDTH=30% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>President, Chief Executive Officer and Director</FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Michael D. Hays</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Principal Executive Officer)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>November 15, 2004</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR><U>/s/ Patrick E. Beans</U></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Vice President, Treasurer, Secretary, Chief</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Patrick E. Beans</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Financial Officer and Director (Principal Financial</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>November 15, 2004</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>and Accounting Officer)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR><U>/s/ JoAnn M. Martin</U></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>November 15, 2004</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>JoAnn M. Martin</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR><U>/s/ John N. Nunnelly</U></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>November 15, 2004</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>John N. Nunnelly</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR><U>/s/ Paul C. Schorr III</U></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>November 15, 2004</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Paul C. Schorr III</FONT></TD></TR>
</TABLE>


<BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6 </FONT></P>


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<HR SIZE=5 COLOR=GRAY NOSHADE>



<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXHIBIT INDEX </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NATIONAL RESEARCH
CORPORATION<BR>2001 EQUITY INCENTIVE PLAN  </FONT></H1>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=bottom>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit<BR><U>Number</U>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exhibit Description</U> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.1)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Articles
of Incorporation of National Research Corporation, as amended to date
               [Incorporated by reference to Exhibit 3.1 to National Research
               Corporation&#146;s Registration Statement on Form S-1 (Registration No.
               333-33273)] </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.2)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By-Laws
of National Research Corporation, as amended to date [Incorporated by
               reference to Exhibit 3.2 to National Research Corporation&#146;s Annual
Report                on Form 10-K for the year ended December 31, 2003 (File No.
0-29466)] </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.3)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>National
Research Corporation 2001 Equity Incentive Plan [Incorporated by reference to Appendix A
to National Research Corporation's Proxy Statement for the 2002 Annual Meeting of
Shareholders filed on April 3, 2002 (file No. 0-29466)]</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.4)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of Nonqualified Stock Option Agreement (for new associates) used in
               connection with the 2001 Equity Incentive Plan </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.5)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of Nonqualified Stock Option Agreement (for officers) used in connection
               with the 2001 Equity Incentive Plan </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.6)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of Restricted Stock Agreement (one year vesting) used in connection with
               the 2001 Equity Incentive Plan </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 0-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4.7)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of Restricted Stock Agreement (five year vesting) used in connection with
               the 2001 Equity Incentive Plan </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 0-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(5)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Opinion
of Foley &amp; Lardner LLP </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(23.1)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of KPMG LLP </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 0-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(23.2)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Foley &amp; Lardner LLP (contained in Exhibit&nbsp;(5) hereto) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(24)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Power
of Attorney (included on the signature page hereto) </FONT></TD>
</TR>
</TABLE>
<BR>


</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "cmw1037.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 44411}]
{"company-data": {"conformed-name": "NATIONAL RESEARCH CORP", "cik": "0000070487", "assigned-sic": "8731", "irs-number": "470634000", "state-of-incorporation": "WI", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-120530", "film-number": "041148242"}, "business-address": {"street1": "1245 Q STREET", "city": "LINCOLN", "state": "NE", "zip": "68508", "phone": "4024752525"}, "mail-address": {"street1": "1245 Q STREET", "city": "LINCOLN", "state": "NE", "zip": "68508"}}
As filed with the
Securities and Exchange Commission on November 16, 2004
Registration No. 333-
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION
STATEMENT
Under
THE SECURITIES ACT OF 1933
NATIONAL RESEARCH
CORPORATION
(Exact name of registrant as specified in its charter)
Wisconsin
47-0634000
(State or other jurisdiction
(I.R.S. Employer
of incorporation or organization)
Identification No.)
1245 Q Street
Lincoln, Nebraska
68508
(Address of principal executive offices)
(Zip Code)
National Research
Corporation 2001 Equity Incentive Plan
(Full title of the plan)
Michael D. Hays
President and Chief Executive Officer
Copy to:
National Research Corporation
Benjamin F. Garmer, III
1245 Q Street
Russell E. Ryba
Lincoln, Nebraska 68508
Foley & Lardner LLP
(402) 475-2525
777 East Wisconsin Avenue
(Name, address and telephone number, including area
Milwaukee, Wisconsin 53202
code, of agent for service)
(414) 271-2400
CALCULATION OF REGISTRATION FEE
Title of Securities
to be Registered
Amount to be
Registered(1)
Proposed Maximum
Offering Price Per
Share(2)
Proposed Maximum
Aggregate Offering
Price(2)
Amount of
Registration Fee
Common Stock,
600,000 Shares
$16.25
$9,750,000
$1,235.33
$.001 par value
(1)
Pursuant
to Rule 416(a) under the Securities Act of 1933, this Registration
               Statement also covers an indeterminate number of additional shares of
Common                Stock that may become issuable as a result of stock splits, stock
dividends or                similar transactions pursuant to the anti-dilution provisions
of the 2001 Equity                Incentive Plan.
(2)
Estimated
pursuant to Rule 457(c) and (h) under the Securities Act of 1933
               solely for the purpose of calculating the registration fee based on the
average                of the high and low prices for National Research Corporation
Common Stock as                reported on the Nasdaq National Market on November 10,
2004.
PART I
INFORMATION REQUIRED
IN THE SECTION 10(a) PROSPECTUS
The
document or documents containing the information specified in Part I are not required to
be filed with the Securities and Exchange Commission (the "Commission") as part
of this Form S-8 Registration Statement.
PART II
INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents
by Reference
.
The
following documents filed by National Research Corporation (the "Company") with
the Commission are hereby incorporated herein by reference:
1.              The
Company's Annual Report on Form 10-K for the year ended           December 31, 2003.
2.              The
Company's Quarterly Reports on Form 10-Q for the quarters ended           March 31, 2004,
June 30, 2004 and September 30, 2004.
3.              The
description of the Company's Common Stock contained in Item 1 of the
          Company's Registration Statement on Form 8-A, dated October 2, 1999, and
          any amendment or report filed for the purpose of updating such description.
All
documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 or
15(d) of the Securities Exchange Act of 1934, as amended, after the date of filing of this
Registration Statement and prior to such time as the Company files a post-effective
amendment to this Registration Statement which indicates that all securities offered
hereby have been sold or which deregisters all securities then remaining unsold shall be
deemed to be incorporated by reference in this Registration Statement and to be a part
hereof from the date of filing of such documents.
Item 4.
Description of
Securities
.
Not
applicable.
Item 5.
Interests of
Named Experts and Counsel
.
Not
applicable.
Item 6.
Indemnification
of Directors and Officers
.
Pursuant
to the provisions of the Wisconsin Business Corporation Law, directors and officers of the
Registrant are entitled to mandatory indemnification from the Registrant against certain
liabilities (which may include liabilities under the Securities Act of 1933) and expenses
(i) to the extent such officers or directors are successful in the defense of a
proceeding; and (ii) in proceedings in which the director or officer is not successful in
defense thereof, unless it is determined that the director or officer breached or failed
to perform his or her duties to the Registrant and such breach or failure constituted: (a)
a willful failure to deal fairly with the Registrant or its shareholders in connection
with a matter in which the director or officer had a material conflict of interest; (b) a
violation of criminal law unless the director or officer had a reasonable cause to believe
his or her conduct was lawful or had no reasonable cause to believe his or her conduct was
unlawful; (c) a transaction from which the director or officer derived an improper
personal profit; or (d) willful misconduct. Additionally, under the Wisconsin Business
Corporation Law, directors of the Registrant are not subject to personal liability to the
Registrant, its shareholders or any person asserting rights on behalf thereof, for certain
breaches or failures to perform any duty resulting solely from their status as directors,
except in circumstances paralleling those outlined in (a) through (d) above.
2
The
Registrant's By-Laws provided for indemnification and advancement of expenses of
officers and directors to the fullest extent provided by the Wisconsin Business
Corporation Law.
The
indemnification provided by the Wisconsin Business Corporation Law and the
Registrant's By-Laws is not exclusive of any other rights to which a director or
officer of the Registrant may be entitled.
The
Registrant also maintains director and officer liability insurance against certain claims
and liabilities which may be made against the Registrant's former, current or future
directors or officers.
Item 7.
Exemption from
Registration Claimed
.
Not
Applicable.
Item 8.
Exhibits
.
The
following exhibits have been filed (except where otherwise indicated) as part of this
Registration Statement:
Exhibit No
.
Exhibit
(4.1)
Articles
of Incorporation of National Research Corporation, as amended to date
               [Incorporated by reference to Exhibit 3.1 to National Research
               Corporation's Registration Statement on Form S-1 (Registration No.
               333-33273)]
(4.2)
By-Laws
of National Research Corporation, as amended to date [Incorporated by
               reference to Exhibit 3.2 to National Research Corporation's Annual
Report                on Form 10-K for the year ended December 31, 2003 (File No.
0-29466)]
(4.3)
National
Research Corporation 2001 Equity Incentive Plan [Incorporated by reference to Appendix A
to National Research Corporation's Proxy Statement for the 2002 Annual Meeting of
Shareholders filed on April 3, 2002 (file No. 0-29466)]
(4.4)
Form
of Nonqualified Stock Option Agreement (for new associates) used in
               connection with the 2001 Equity Incentive Plan
3
Exhibit No
.
Exhibit
(4.5)
Form
of Nonqualified Stock Option Agreement (for officers) used in connection
               with the 2001 Equity Incentive Plan
(4.6)
Form
of Restricted Stock Agreement (one year vesting) used in connection with
               the 2001 Equity Incentive Plan
(4.7)
Form
of Restricted Stock Agreement (five year vesting) used in connection with
               the 2001 Equity Incentive Plan
(5)
Opinion
of Foley & Lardner LLP
(23.1)
Consent
of KPMG LLP
(23.2)
Consent
of Foley & Lardner LLP (contained in Exhibit (5) hereto)
(24)
Power
of Attorney (included on the signature page hereto)
Item 9.
Undertakings
.
(a)
                    The undersigned Registrant hereby undertakes:
(1)
                    To file, during any period in which offers or sales are being made, a
                    post-effective amendment to this Registration Statement:
(i)
                    To include any prospectus required by Section 10(a)(3) of the
Securities                     Act of 1933, as amended;
(ii)
                    To reflect in the prospectus any facts or events arising after the
effective                     date of the Registration Statement (or the most recent
post-effective amendment                     thereof) which, individually or in the
aggregate, represents a fundamental                     change in the information set
forth in the Registration Statement;
(iii)
                    To include any material information with respect to the plan of
distribution not                     previously disclosed in the Registration Statement
or any material change to                     such information in the Registration
Statement;
provided, however,
that
paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be
included in a post-effective amendment by those paragraphs is contained in periodic
reports filed with or furnished to the Securities and Exchange Commission by the
Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange
Act of 1934, as amended, that are incorporated by reference in the Registration Statement.
(2)              That,
for the purpose of determining any liability under the Securities Act of           1933,
as amended, each such post-effective amendment shall be deemed to be a new
          registration statement relating to the securities offered herein, and the
          offering of such securities at that time shall be deemed to be the initial bona
          fide offering thereof.
(3)              To
remove from registration by means of a post-effective amendment any of the
          securities being registered which remain unsold at the termination of the
          offering.
4
(b)              The
undersigned Registrant hereby undertakes that, for purposes of determining           any
liability under the Securities Act of 1933, as amended, each filing of the
          Registrant's annual report pursuant to Section 13(a) or
          Section 15(d) of the Exchange Act (and, where applicable, each filing of
an           employee benefit plan's annual report pursuant to Section 15(d) of the
          Exchange Act) that is incorporated by reference in this Registration Statement
          shall be deemed to be a new registration statement relating to the securities
          offered herein, and the offering of such securities at that time shall be
deemed           to be the initial bona fide offering thereof.
(c)              Insofar
as indemnification for liabilities arising under the Securities Act of           1933, as
amended, may be permitted to directors, officers and controlling           persons of the
Registrant pursuant to the foregoing provisions, or otherwise,           the Registrant
has been advised that in the opinion of the Securities and           Exchange Commission
such indemnification is against public policy as expressed           in the Act and is,
therefore, unenforceable. In the event that a claim for           indemnification against
such liabilities (other than the payment by the           Registrant of expenses incurred
or paid by a director, officer or controlling           person of the Registrant in the
successful defense of any action, suit or           proceeding) is asserted by such
director, officer or controlling person in           connection with the securities being
registered, the Registrant will, unless in           the opinion of its counsel the
matter has been settled by controlling precedent,           submit to a court of
appropriate jurisdiction the question whether such           indemnification by it is
against public policy as expressed in the Act and will           be governed by the final
adjudication of such issue.
5
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all the requirements for filing on Form S-8
and has duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Lincoln, State of Nebraska, on the
15
th
day of November, 2004.
NATIONAL RESEARCH CORPORATION
By:
/s/ Michael D. Hays
Michael D. Hays
President and Chief Executive Officer
Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been
signed below by the following persons in the capacities and on the dates indicated. Each
person whose signature appears below constitutes and appoints Michael D. Hays and Patrick
E. Beans, and each of them individually, his attorneys-in-fact and agents, with full power
of substitution and resubstitution for him and in his name, place and stead, in any and
all capacities, to sign any and all amendments (including post-effective amendments) to
the Registration Statement and to file the same, with all exhibits thereto, and other
documents in connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, and each of them, full power and authority to do
and perform each and every act and thing requisite and necessary to be done in connection
therewith, as fully to all intents and purposes as he might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or
their or his substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.
Signature
Title
Date
/s/ Michael D. Hays
President, Chief Executive Officer and Director
Michael D. Hays
(Principal Executive Officer)
November 15, 2004
/s/ Patrick E. Beans
Vice President, Treasurer, Secretary, Chief
Patrick E. Beans
Financial Officer and Director (Principal Financial
November 15, 2004
and Accounting Officer)
/s/ JoAnn M. Martin
Director
November 15, 2004
JoAnn M. Martin
/s/ John N. Nunnelly
Director
November 15, 2004
John N. Nunnelly
/s/ Paul C. Schorr III
Director
November 15, 2004
Paul C. Schorr III
6
EXHIBIT INDEX
NATIONAL RESEARCH
CORPORATION
2001 EQUITY INCENTIVE PLAN
Exhibit
Number
Exhibit Description
(4.1)
Articles
of Incorporation of National Research Corporation, as amended to date
               [Incorporated by reference to Exhibit 3.1 to National Research
               Corporation's Registration Statement on Form S-1 (Registration No.
               333-33273)]
(4.2)
By-Laws
of National Research Corporation, as amended to date [Incorporated by
               reference to Exhibit 3.2 to National Research Corporation's Annual
Report                on Form 10-K for the year ended December 31, 2003 (File No.
0-29466)]
(4.3)
National
Research Corporation 2001 Equity Incentive Plan [Incorporated by reference to Appendix A
to National Research Corporation's Proxy Statement for the 2002 Annual Meeting of
Shareholders filed on April 3, 2002 (file No. 0-29466)]
(4.4)
Form
of Nonqualified Stock Option Agreement (for new associates) used in
               connection with the 2001 Equity Incentive Plan
(4.5)
Form
of Nonqualified Stock Option Agreement (for officers) used in connection
               with the 2001 Equity Incentive Plan
(4.6)
Form
of Restricted Stock Agreement (one year vesting) used in connection with
               the 2001 Equity Incentive Plan
(4.7)
Form
of Restricted Stock Agreement (five year vesting) used in connection with
               the 2001 Equity Incentive Plan
(5)
Opinion
of Foley & Lardner LLP
(23.1)
Consent
of KPMG LLP
(23.2)
Consent
of Foley & Lardner LLP (contained in Exhibit (5) hereto)
(24)
Power
of Attorney (included on the signature page hereto)