Company: NODK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001174947-25-001356
Chunk: 397

Company: NI Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 397
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The changes in the number of common shares outstanding excludes
certain non-forfeitable stock award shares that are included in the weighted average common shares outstanding used in basic earnings
per common share calculations. The net loss per diluted common share for the three- and nine-month periods ended September 30, 2025, excluded
the weighted average effects of 58,312 and 64,731 shares, respectively, of stock awards since the impacts of these potential shares of
common stock were anti-dilutive. The net loss per diluted common share for the three- and nine-month period ended September 30, 2024,
excluded the weighted average effects of 134,644 and 125,054 shares of stock awards since the impacts of these potential shares of common
stock were anti-dilutive.

On May 9, 2022, our Board of Directors approved
an authorization for the repurchase of up to approximately $10,000 of the Company’s outstanding common stock. During the nine months
ended September 30, 2025, we completed the repurchase of 87,199 shares of our common stock for $1,156 under this authorization, including
the applicable excise tax. At September 30, 2025, $900 remains available under this authorization. During the nine months ended September
30, 2024, we did not repurchase any shares of our common stock.

On August 25, 2025, our Board of Directors approved
an authorization for the repurchase of up to approximately $5,000 of the Company’s outstanding common stock in addition to the $900
remaining from the May 9, 2022, repurchase authorization as of September 30, 2025. No shares were repurchased as part of the August 25,
2025, authorization during the nine months ended September 30, 2025.

The cost of this treasury stock is a reduction
of shareholders’ equity within our Consolidated Balance Sheets.

Preferred Stock

The Company’s Articles of Incorporation
provide authority to issue up to five million shares of preferred stock. No preferred shares are issued or outstanding.

17.Share-Based Compensation

The NI Holdings, Inc. 2020 Stock and Incentive
Plan (the “Plan”) is designed to promote the interests of the Company and its shareholders by aiding the Company in attracting
and retaining employees, officers, consultants, independent contractors, advisors, and non-employee directors capable of assuring the