Company: NODK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000546
Chunk: 58

Company: NI Holdings, Inc.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 58
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 in current year – value at year – end                                                                                                                     |     |   519,072 |   |     |  53,380 |   |     |          — |   |     |     61,330 |   |
| Add/Subtract: Dividends or other earnings paid on stock or option awards in the covered fiscal year prior to the vesting date that are not otherwise included in the total compensation for the covered fiscal year |     |         — |   |     |       — |   |     |          — |   |     |          — |   |
| Add/Subtract: Change in fair value from end of prior fiscal year to end of current fiscal year for awards made in prior fiscal years that were unvested at end of current fiscal year                               |     |  (112,215 | ) |     |       — |   |     |          — |   |     |    (23,861 | ) |
| Add/Subtract: Change in fair value from end of prior fiscal year to vesting date for awards made in prior fiscal years that vested during current fiscal year                                                       |     |     4,464 |   |     |   8,778 |   |     |     24,264 |   |     |      2,748 |   |
| Less: Fair value of awards forfeited in current fiscal year determined at end of prior fiscal year                                                                                                                  |     |         — |   |     |       — |   |     | (1,016,857 | ) |     |    (81,447 | ) |
| Compensation Actually Paid to NEO                                                                                                                                                                                   |     | 1,482,345 |   |     | 470,286 |   |     |  3,509,131 |   |     |    856,046 |   |

(4)

(5)

(6)

The amounts reported as compensation actually paid to executives are dependent upon the fair value of the Company’s common stock as of December 31 each year and the estimated performance of the PSUs. The Company utilizes a three -yearperformance period for adjusted book value per share for PSUs granted in 2018 through 2023. For PSUs granted in 2024, the Company utilizes a three -yearperformance period for adjusted return on equity. At each balance sheet date, management makes a determination how each set of PSU awards will compare at the end of the performance period to the pre -determinedgoals. The following table