Company: NODK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000546
Chunk: 15

Company: NI Holdings, Inc.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 15
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 and enhance the alignment of executives’ interest with those of shareholders. Our compensation philosophy is to attract, retain, and motivate our NEOs and other senior leadership throughout the organization. The “Compensation Discussion and Analysis” section of this Proxy Statement provides an overview of our executive compensation philosophy, the overall objectives of our executive compensation program, and each component of the program. In accordance with the rules and regulations of the SEC, pursuant to Section 14A of the Exchange Act, we are providing our shareholders with the opportunity to vote to approve, on an advisory or non -bindingbasis, the compensation of our NEOs as disclosed in the Executive Compensation section of this Proxy Statement. This proposal, commonly known as the “say -on-pay” proposal, gives our shareholders the opportunity to express their views with respect to our NEOs’ compensation as a whole. This vote is not intended to address any specific item of compensation or any specific NEO, but rather the overall compensation of all of our NEOs and our executive compensation philosophy, policies, and practices as described in this Proxy Statement. The say -on-payvote is advisory, and therefore not binding to us. The say -on-payvote will, however, provide information to us regarding shareholder sentiment about our executive compensation philosophy, policies, and practices, which the Compensation Committee will be able to consider when determining executive compensation for the remainder of the current year and beyond. Our Board believes that our executive compensation program is designed appropriately and is working to ensure management’s interests are aligned with our shareholders’ interests to support long -termvalue creation. Accordingly, our Board recommends a vote “FOR”the following advisory resolution: “RESOLVED, that the compensation paid to the Company’s NEOs, as disclosed pursuant to Item 402 of Regulation S -K, including the Compensation Discussion and Analysis, compensation tables, and narrative discussion is hereby APPROVED.” Approval of Proposal 3 requires “FOR”votes from the holders of a majority in voting power of the shares present at the 2025 Annual Meeting or represented by proxy thereat and entitled to vote on the proposal. Broker non -voteswill not be considered entitled to vote on this proposal and therefore will not affect the outcome of Proposal 3, but abstentions will have the same effect as a vote against the proposal. 9

CORPORATE GOVERNANCE The Board of NI Holdings, Inc. has adopted a framework of good corporate governance practices to provide guidance to the Board and management to pursue our strategic objectives for the benefit of our shareholders. This framework