Company: NODK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000546
Chunk: 49

Company: NI Holdings, Inc.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 49
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 the grant date, through March 1, 2028. (10)This PSU award was granted on March 1, 2023, and vests at the end of the performance period on December 31, 2025, subject to the level of achievement with respect to the applicable performance targets. In accordance with Instruction 3 to Regulation S -KItem 402(p)(2), the market values for this award in the “Equity Incentive Plan Awards” columns are reported at zero, because we estimate that the result for the 2023 -2025performance period will not achieve the threshold goal. The ultimate payout under this PSU will be based on a final determination of performance during the full 2023 -2025performance period, which is not yet determinable.

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(11)This RSU award was granted on March 1, 2024, and vests in three equal annual installments on each of the first three anniversaries of the grant date, through March 1, 2027. (12)This PSU award was granted on March 1, 2024, and vests at the end of the performance period on December 31, 2026, subject to the level of achievement with respect to the applicable performance targets. In accordance with Instruction 3 to Regulation S -KItem 402(p)(2), the market values for this award in the “Equity Incentive Plan Awards” columns are reported at less than target levels, because we estimate that the result for the 2024 -2026performance period will not achieve the target goal. There is no guarantee that such amounts will ultimately be earned by participants. The ultimate payout under this PSU will be based on a final determination of performance during the full 2024 -2026performance period, which is not yet determinable. (13)This RSU award was granted on December 1, 2024, and vests on the third anniversary of the grant date. (14)This RSU award was granted on May 22, 2024, and vests on the date of the following year’s annual meeting. Non-Qualified Deferred Compensation for 2024 The Nodak Insurance Company Non -QualifiedDeferred Compensation Plan assists executives designated by the Compensation Committee as participants in maximizing their ability to save additional amounts for their retirement on a tax -deferredbasis. In addition to allowing participants to make elective deferrals, the plan permits Nodak Insurance Company to make company contributions to eligible employees.