Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 483

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1B
Chunk 483
---
 Company, including our business
strategy, results of operations, or financial condition. Refer to the risk factor captioned “Cyberattacks, security breaches, or
similar events affecting the technologies and systems we rely on to operate our business and to maintain and protect sensitive Company
and customer data could disrupt our operations, harm our reputation, and result in material losses” in Part I, Item 1A, “Risk
Factors” for additional details regarding cybersecurity risks and potential impacts on our business.

Item 2.Properties

Our headquarters is located at 1101 First Avenue
North, Fargo, North Dakota, which is also the headquarters of Nodak Insurance. Nodak Insurance owns this building and leases a portion
of the building to the NDFB and to AFBIS.

Battle Creek owns the building in which its offices
are located at 603 South Preece Street, Battle Creek, Nebraska.

Tri-State Ltd. leases the building at 506 5th
Street, Spearfish, South Dakota.

Direct Auto leases office space at 8700 West Bryn
Mawr Avenue, Chicago, Illinois under a lease that expires on August 31, 2029.

We believe that the offices currently occupied
by each of our subsidiaries are sufficient for their needs and any expected internal growth in the near future.

Item 3.Legal Proceedings

We are party to litigation in the normal course
of business. Based upon information presently available to us, we do not consider any litigation to be material. However, given the inherent
uncertainties of litigation, we cannot assure you that our results of operations and financial condition will not be materially adversely
affected by any litigation.

23 

Item 4.Mine Safety Disclosures

Not applicable.

24 

PART II

Item 5.Market for Registrant’s Common Equity, Related Shareholder Matters, and Issuer Purchases of Equity Securities

Market Information

The Company’s common shares trade on the
Nasdaq Capital Market (“Nasdaq”) under the symbol “NODK.” As of February 28, 2025, there were approximately 502
shareholders of record for the Company’s common stock.

Stock Performance Graph

The following graph
shows the cumulative total shareholder return (stock price increase plus dividends) on our common stock from December 31, 2019 through
December 31, 2024, along with the corresponding returns for the Russell 2000 Index (as the broad stock market index) and the