Company: NODK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000546
Chunk: 17

Company: NI Holdings, Inc.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 17
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 company management on a quarterly basis. Board Access to Management Non -employeedirectors have full and free access to any officer, manager, or employee of the Company in person, by email, or by telephone. 11 Shareholder Communications with our Board Shareholders seeking to communicate with our Board must submit their written comments to our Corporate Secretary, NI Holdings, Inc., 1101 First Avenue North, Fargo, ND 58102. The Corporate Secretary will forward such communications to each member of our Board, except in cases where in the opinion of our Corporate Secretary, it would be inappropriate to send a particular shareholder communication to a specific director, in which cases such communication will only be sent to the remaining directors (subject to the remaining directors concurring with such opinion). Board Access to Independent Advisors The Board and its committees have the authority any time to retain outside accounting, financial, compensation, recruiting, legal, or other advisors, and the Company will provide appropriate funding, as determined by the Board or any committee, to compensate such independent outside advisors, as well as to cover the ordinary administrative expenses incurred by the Board and its committees in carrying out its duties. Compensation of the Board The Compensation Committee has the responsibility for reviewing and approving compensation and benefits for non -employeedirectors. In discharging this responsibility, the committee considers the performance of the Company, shareholder returns, alignment of director interests with long term shareholder interests, the amount of time and work required of directors, the compensation paid to directors at other comparable companies, and the maintenance of director independence as well as the appearance of director independence. The committee monitors the possibility of any indirect forms of compensation to directors, including significant charitable contributions to organizations with which a director might be affiliated or by which a director might be compensated. Annual Evaluations The Board annually considers conducting an evaluation to determine if it and its committees are functioning effectively. Likewise, each board committee annually considers conducting a self -evaluationto determine if it is functioning effectively. Committees of the Board of Directors Although we would qualify as a “controlled company” under the Nasdaq Listing Rules because Nodak Mutual Group, Inc. owns over 50% of our outstanding common stock, we do not intend to rely on the exemptions from certain of the corporate governance rules for Nasdaq listed companies. Our Board has established an Audit Committee, a Compensation Committee, an Investment Committee, and a Nominating and Corporate Governance Committee. Each of our standing committees has a charter providing for the responsibilities and authority of such committee. The responsibilities of each of these committees