Company: NODK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000546
Chunk: 43

Company: NI Holdings, Inc.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 43
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eedirectors and applicable executives on an annual basis. Clawback Policy The Company’s employment agreements provide that all bonuses and incentive compensation are subject to recovery by the Company in the event that such bonuses or incentive compensation are based on materially inaccurate financial statements or other materially inaccurate performance metric criteria, provided that a determination as to the recovery of a bonus or incentive compensation shall be made within twenty -four(24) months following the date of payment. The Company’s PSU award agreement provides that the executive’s rights in these awards are subject to recoupment or repayment if such action is required under applicable law or any Company recoupment or “clawback” policy. Effective October 2, 2023, the Company adopted a new Incentive Compensation Recovery Policy, which is available on our website at www.niholdingsinc.com. This policy provides for the recovery of certain executive incentive compensation in the event of an accounting restatement resulting from material noncompliance with financial reporting requirements under the federal securities laws and/or certain types of misconduct. This policy is designed to comply with Section 10D of the Exchange Act. Timing of Equity Grants In 2024, we did not grant any stock options, stock appreciation rights, or similar awards under the 2020 Plan and we do not currently plan to grant stock options, stock appreciation rights, or other similar appreciation -basedawards as incentive compensation to any executive officer, non -employeedirector, or employee. Accordingly, we do not have a policy or practice in relation to the timing or the determination of the terms of a grant of options or other awards in relation to the disclosure of material non -publicinformation. The Company does not coordinate the timing of equity awards with the release of material non -publicinformation. Executive equity awards are generally granted on March 1 each year. Non -employeedirector equity awards are generally granted as of the date of each year’s annual meeting of shareholders. During 2024, we have not timedthe disclosure of material non -publicinformation for the purpose of affecting the value of executive compensation.

32

Prohibition on Hedging and Pledging Transactions Our senior leadership executives are subject to the Company’s Insider Trading Policy, described above under the heading “Corporate Governance — Insider Trading Policy,” which prohibits directors, executive officers, and certain additional employees from engaging in hedging or monetizing transactions with respect to Company securities they own as well as holding Company securities in a margin account or pledging Company securities as collateral for a loan. Tax and Accounting Imp