Company: NODK
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001174947-25-001142
Chunk: 140

Company: NI Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 140
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 the uncertainties attendant to litigation, we cannot assure you that our results of operations and financial condition
will not be materially adversely affected by any litigation. Contingent liabilities arising from litigation, income taxes, and other matters
are not considered to be material to our financial position.

16.Common and Preferred Stock

Common Stock

Changes in the number of common stock shares outstanding
were as follows:

    Six Months Ended June 30, 

    2025  
    2024 
  
    Shares outstanding, beginning of period 
     20,673,268  
     20,599,908 
  
    Treasury shares repurchased through stock repurchase authorization 
     —  
     — 
  
    Issuance of treasury shares for vesting of restricted stock units 
     40,090  
     48,734 
  
    Shares outstanding, end of period 
     20,713,358  
     20,648,642 

The changes in the number of common shares outstanding excludes certain
non-forfeitable stock award shares that are included in the weighted average common shares outstanding used in basic earnings per common
share calculations. The net loss per diluted common share for the three- and six-month periods ended June 30, 2025, excluded the weighted
average effects of 54,926 and 67,994 shares, respectively, of stock awards since the impacts of these potential shares of common stock
were anti-dilutive. The net loss per diluted common share for the three- and six-month period ended June 30, 2024, excluded the weighted
average effects of 127,108 and 120,206 shares of stock awards since the impacts of these potential shares of common stock were anti-dilutive.

On May 9, 2022, our Board of Directors approved an
authorization for the repurchase of up to approximately $10,000 of the Company’s outstanding common stock. During the six months
ended June 30, 2025, we did not repurchase any shares of our common stock. During the six months ended June 30, 2024, we did not repurchase
any shares of our common stock. At June 30, 2025, $2,052 remains available under this authorization.

The cost of this treasury stock is a reduction of
shareholders’ equity within our Consolidated Balance Sheets.

Preferred Stock

The Company’s Articles of Incorporation provide
authority to issue up to