Company: NODK
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001174947-25-000721
Chunk: 114

Company: NI Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 114
---
386 
  
    2026 
     396  
     100  
     496 
  
    2027 
     401  
     —  
     401 
  
    2028 
     376  
     —  
     376 
  
    2029 
     212  
     —  
     212 
  
    Thereafter 
     —  
     —  
     — 
  
    Total undiscounted lease payments 
     1,681  
     190  
     1,871 
  
    Less: present value adjustment 
     143  
     11  
     154 
  
    Lease liability at March 31, 2025 
    $1,538  
    $179  
    $1,717 

24 

  15. 
  Contingencies

We are, from time to time, party to routine litigation incidental
to the normal course of our business. Based upon information presently available to us, we do not consider any litigation to be material.
However, given the uncertainties attendant to litigation, we cannot assure you that our results of operations and financial condition
will not be materially adversely affected by any litigation. Contingent liabilities arising from litigation, income taxes, and other matters
are not considered to be material to our financial position.

16.Common and Preferred Stock

Common Stock

Changes in the number of common stock shares outstanding
were as follows:

    Three Months Ended March 31, 

    2025  
    2024 
  
    Shares outstanding, beginning of period 
     20,673,268  
     20,599,908 
  
    Treasury shares repurchased through stock repurchase authorization 
     —  
     — 
  
    Issuance of treasury shares for vesting of restricted stock units 
     25,306  
     29,546 
  
    Shares outstanding, end of period 
     20,698,574  
     20,629,454 

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.

On May 9, 2022, our Board of Directors approved an
authorization for the repurchase of up to approximately $10,000 of the