NRC · National Research Corporation

The company's name change to NRC Health formalizes a brand identity used since 2016 and does not affect stockholder rights or the ticker symbol. The board declassification represents a significant governance change, eliminating the previous three-class staggered structure where directors served three-year terms. This transition to annual elections increases stockholder influence over board composition and aligns with governance trends favoring annual director accountability. The resignations of five directors with terms extending beyond the 2026 Annual Meeting are procedural steps to implement this change, not indicative of disagreements or desire to leave the board. All seven incumbent directors have been nominated for re-election to serve one-year terms. The amended bylaws also introduce structural changes including a maximum board size of 12 directors and formal establishment of the Chair position, while updating stockholder meeting procedures. The amendment to Shane Harrison's equity award enhances the value of his restricted stock by granting voting and dividend rights during the vesting period.