Company: NODK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000546
Chunk: 29

Company: NI Holdings, Inc.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 29
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 2024. The compensation received by Ms. Launer for serving as Interim Chief Executive Officer is shown in the All Other Compensation column in the table above as well as in the “Summary Compensation Table” section of this Proxy Statement. Narrative to the Director Compensation Table Fees Earned or Paid in Cash The Company provides an annual retainer of $50,000 for non -employeedirectors for service on its Board and quarterly retainers of $2,500 for non -employeedirectors for service on each Board committee for which they are a member. Additional quarterly retainers of $1,000 each were paid in 2024 to directors serving as chairpersons of the Board’s committees (Audit Committee, Compensation Committee, Nominating and Corporate Governance Committee, and Investment Committee). A quarterly retainer of $2,500 was paid to the Chair of the Board. Additional amounts, similar in structure to the arrangements described above, were paid to directors serving on ad hoc committees (CEO Search Committee and Strategic Planning Committee).

20 Restricted Stock Unit Awards In addition to cash compensation, the Company provides that each non -employeedirector will receive an annual award of restricted stock units (“RSUs”), with a targeted dollar value of $50,000. On the day following each annual meeting of our shareholders, each non -employeedirector then in office will receive an annual award of RSUs. All RSUs vest in full as of the date of the next annual meeting of shareholders. The Company has adopted a Deferred Compensation Plan under which a select group of executives and non -employeedirectors may elect to defer receipt of shares payable for RSUs granted under the Company’s long -termincentive program. An eligible person may make a deferral election under the Deferred Compensation Plan no later than the last day of the plan year prior to the plan year in which such awards are granted. During 2024, each non -employeedirector listed in the Director Compensation Table received 3,400 RSUs with a grant -datefair value of $52,020 which will vest on May 20, 2025. Three of the seven non -employeedirectors elected to defer receipt of these vesting shares until a later date. 21

EXECUTIVE OFFICERS Executive Biographies The following is biographical information for our current executive officers as of the date of this Proxy Statement.

| Name            |     |       Age at 
 May 20, 2025 |     | Position(s)                                                     |
|: