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

Company: NI Holdings, Inc.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 14
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 the United States of America (“GAAP”). These discussions included the judgment of Forvis Mazars, LLP regarding the quality, not just the acceptability, of the Company’s accounting principles. In addition, the Audit Committee has discussed the other matters with Forvis Mazars, LLP that are required to be discussed by PCAOB Auditing Standard No. 1301, Communications with Audit Committees, the rules of the Securities and Exchange Commission (the “SEC”), and other applicable regulations. The Audit Committee has also received and reviewed the written disclosures and the letter from Forvis Mazars, LLP required by the applicable requirements of the PCAOB and has discussed with Forvis Mazars, LLP their independence from the Company. A portion of the Audit Committee meetings are held with Forvis Mazars, LLP without management present. 7

In reliance on the review and discussions referenced above, the Audit Committee recommended to the Board, and the Board approved, that the audited consolidated financial statements be included in the Annual Report on Form 10 -Kfor the year ended December 31, 2024, filed by the Company with the SEC.

| Audit Committee:         |     |                    |
| Stephen V. Marlow, Chair |     | Duaine C. Espegard |
| Eric K. Aasmundstad      |     | Cindy L. Launer    |

The foregoing report of the Audit Committee does not constitute soliciting material and will not be deemed filed, incorporated by reference into or a part of any other filing by the Company (including any future filings) under the Exchange Act, except to the extent the Company specifically incorporates such report by reference therein.

8 Proposal 3: Advisory Vote to Approve the Compensation of our Named Executive Officers Our Board recommends a vote FOR this proposal 3. Our philosophy is to maintain executive compensation policies and procedures consistent with our sound governance standards. The Compensation Committee evaluates our executive compensation program on a regular basis to ensure consistency with our short -termand long -termgoals, given the changing nature of our business and the market in which we compete for executive talent. Our executive compensation program is intended to encourage and reward performance that is consistent with top -tierinsurance organizations. As such, the compensation program for Named Executive Officers (“NEOs”) includes both short -term(defined as annual) and long -term(generally defined as three to five years) incentive programs that reward our NEOs for achievement of pre -establishedobjectives. The compensation program is also designed to foster retention of key executives