Company: NODK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000546
Chunk: 22

Company: NI Holdings, Inc.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 22
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 on the selection, evaluation, development, and compensation of executive officers; c)reviewing, monitoring, providing counsel, and, where appropriate, approving fundamental financial and business strategies and major corporate actions; d)assessing major risks facing the Company and reviewing options for their mitigation; and e)ensuring processes are in place for maintaining the integrity of the Company through (i) its financial statements, (ii) compliance with law and ethics, (iii) relationships with customers, vendors, and agents, and (iv) relationships with other interested parties. During 2024, our Board met 19 times, the Audit Committee met ten times, the Compensation Committee met seven times, the Investment Committee met four times, the Nominating and Corporate Governance Committee met nine times, the CEO Search Committee met three times, and the Strategic Planning Committee met three times. During 2024, each of our directors attended at least 98% of the aggregate number of meetings of our Board and meetings of any committee of which he or she was a member, which were held during the time in which he or she was a director or a committee member, as applicable. Our Board has a policy of encouraging director attendance at our annual meeting of shareholders, but attendance is not mandatory. The 2024 Annual Meeting was attended by all eight directors serving at the time. Risk Oversight One of the key functions of our Board is informed oversight of our risk management process. Our Audit Committee has the primary responsibility to monitor and assess strategic risk exposures and oversee the Company’s Enterprise Risk Management activities and provide regular reports to the Board. The Audit Committee has the responsibility to consider and discuss our major financial risk exposures and the steps our management has taken to monitor and control these exposures, including adopting guidelines and policies to govern the process by which risk assessment and management is undertaken. Management provides quarterly updates on Enterprise Risk Management to the Audit Committee, including information on Information Technology security, audits, and cyber analytics. For further details on cybersecurity oversight, please see Item 1C. Cybersecurity in the Company’s Form 10K for the fiscal year ended December 31, 2024. The Audit Committee also monitors compliance with legal and regulatory requirements. Our Nominating and Corporate Governance Committee monitors the effectiveness of our corporate governance practices, including whether they are successful in preventing illegal or improper liability -creatingconduct. Our Compensation Committee assesses and monitors whether any of our compensation policies and programs has the potential to encourage excessive risk -taking. Our Investment Committee monitors risks associated with the Company’s