Company: NODK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001174947-25-001356
Chunk: 191

Company: NI Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part II, Item 1A
Chunk 191
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 increased costs for raw materials, components, or finished goods and adversely impact loss severity. In addition, tariffs
or other trade restrictions may lead to continuing uncertainty and volatility in U.S. and global financial and economic conditions and
commodity markets, declining consumer confidence, significant inflation, and diminished expectations for the economy. Such conditions
could have a material adverse impact on our business, results of operations and cash flows. We are unable to predict the ultimate result
and duration of any tariff actions by the U.S. government or countermeasures that may be taken by other nations.

47 

Item 2. - Unregistered Sales of Equity Securities
and Use of Proceeds

All dollar amounts included in Item 2 herein, except per share data,
are in thousands.

The Company has not sold any unregistered securities within the
past three years.

From time to time, the Company may repurchase its own stock.

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 year ended December 31,
2022, we completed the repurchase of 54,223 shares of our common stock for $734 under this authorization. During the year ended December
31, 2023, we repurchased an additional 548,549 shares of our common stock for $7,278, including the effect from applicable excise taxes.
During the year ended December 31, 2024, we did not repurchase any shares of our 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, including the effect from applicable excise taxes.

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.

Share repurchase activity during the three months
ended September 30, 2025, is presented below:

    Period in 2025 
    Total Number of
 Shares
 Purchased  
    Average Price 
Paid 
Per Share (3)