Company: NODK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000546
Chunk: 47

Company: NI Holdings, Inc.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 47
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 section. The values in the “Estimated Future Payouts Under Non -EquityIncentive Plan Awards” columns represent threshold, target, and maximum award opportunities, based upon the achievement of the targets listed within the Compensation Discussion and Analysis. Payouts can range from no payment to the maximum amounts based on actual Company performance. The actual incentive award earned by each participating NEO for 2024 performance is reported in the “Non -EquityIncentive Plan Compensation” column in the Summary Compensation Table. This incentive is paid in cash to the NEO. (2)The values in the “Estimated Future Payouts Under Equity Incentive Plan Awards” columns represent potential payouts for performance share units, as described in the “Stock -BasedIncentive Plan” section. Payouts can range from no payment to 200% maximum payout based on actual adjusted return on equity compared to goals. (3)The values in the “All Other Stock Awards” column represent RSUs. (4)The fair value of stock awards is based on the closing price of our common stock on the grant date. The grant date fair value of each RSU award was computed in accordance with FASB ASC Topic 718 using the closing price of our common stock on the grant date. The grant date fair value of each PSU award was computed in accordance with FASB ASC Topic 718 using the closing price of our common stock on the grant date and based on achievement of target performance. (5)Ms. Launer was not eligible for the Short -TermIncentive Plan pursuant to her compensation arrangement as Interim Chief Executive Officer. The stock award for Ms. Launer pertains to her service as a director of the Company. (6)Messrs. Alexander and Duncan left the Company prior to the end of the 2024 fiscal year. Any unvested awards were forfeited upon their termination without Cause. For additional details regarding payments made to Messrs. Alexander and Duncan in connection with the termination of their employments, see the discussion under the heading “Executive Compensation — NEO Terminations During the Year.”

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Stock Vested in 2024 The following table provides information regarding the values realized by our NEOs upon the vesting of stock awards in 2024.

| Name                 |     | Type of Stock 
 Award         |     |       Number of 
 Shares Acquired 
      on Vesting 
             (#) |     | Value Realized 
  on Vesting(1) 
            ($)