Welcome to our dedicated page for Ni Hldgs SEC filings (Ticker: NODK), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
NI Holdings, Inc. (NASDAQ: NODK) files a range of documents with the U.S. Securities and Exchange Commission as an insurance holding company in the direct property and casualty sector. As the North Dakota business corporation that is the stock holding company of Nodak Insurance Company, NI Holdings uses SEC filings to report on its consolidated financial results, material events, and governance matters across NI Holdings; Nodak Insurance Company and its wholly owned subsidiaries American West Insurance Company, Primero Insurance Company, and Battle Creek Insurance Company; and Direct Auto Insurance Company, with some disclosures also referencing Westminster Insurance Company until its sale.
On this page, you can review NI Holdings’ periodic reports, including Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, which the company references in its press releases. These filings provide detail on net earned premiums, loss and loss adjustment expense ratios, expense ratios, combined ratios, net investment income, and other metrics relevant to its property and casualty operations, as well as discussions of risk factors and segment performance. They also describe the company’s structure following the March 13, 2017 conversion of Nodak Mutual Insurance Company to stock form and the resulting ownership of Nodak Insurance Company.
Current reports on Form 8-K give timely disclosure of material events such as quarterly financial results, share repurchase authorizations, CEO transitions, compensation decisions for senior executives, and separation agreements. Several Form 8-K filings confirm that NI Holdings’ common stock, with a par value of $0.01 per share, is listed on the Nasdaq Capital Market under the symbol NODK. Users interested in executive arrangements can examine 8-K and 8-K/A filings that describe leadership changes and related compensation terms.
Stock Titan’s platform surfaces these SEC filings with AI-powered summaries that explain the key points of lengthy documents in plain language. Real-time updates from the EDGAR system allow you to see new 10-K, 10-Q, and 8-K filings as they are posted, while AI-generated highlights help identify important disclosures about underwriting performance, investment income, capital management actions, and governance changes. For those tracking insider and executive activity, related filings can be accessed alongside the company’s broader regulatory history.
NI Holdings, Inc.$13.32 per share to satisfy withholding obligations tied to a restricted stock unit vesting on that date. After this tax-related share withholding, Maki directly beneficially owned 42,514 shares of NI Holdings common stock. This total includes 2,265 shares that were distributed from the company's Employee Stock Ownership Plan.
NI Holdings, Inc. Chief Financial Officer Matthew James Maki reported a small share withholding related to equity compensation. On January 2, 2026, 115 shares of NI Holdings common stock were withheld at a price of $13.27 per share to cover tax withholding obligations tied to a restricted stock unit vesting. After this transaction, he beneficially owned 43,201 shares of common stock, which include 3,067 shares distributed from the company's Employee Stock Ownership Plan.
NI Holdings, Inc. Chief Executive Officer Cindy Launer reported an award of 14,076 shares of the company’s common stock on December 1, 2025. The filing explains these shares are represented by restricted stock units with time-based vesting, meaning they are earned over time rather than all at once. Following this grant, Launer directly beneficially owned a total of 34,800 common shares, which includes 20,724 restricted stock units that will be deferred until after separation from service. The transaction was reported at a price of $0.00 per share, indicating it was an equity compensation grant rather than an open-market purchase.
NI Holdings, Inc. furnished a press release announcing its financial results for the quarter ended September 30, 2025. The company issued the release on November 7, 2025, and attached it as Exhibit 99.1 to this report. The company states that the information is furnished and not deemed filed under the Securities Exchange Act of 1934, and it is not incorporated by reference into Securities Act filings unless specifically referenced.
NI Holdings (NODK) reported a Q3 2025 net loss of $1.7 million
Underwriting remained pressured: losses and loss adjustment expenses were $56.2 million in Q3, and year‑to‑date results included $19.8 million of unfavorable development on prior accident years, primarily in Non‑Standard Auto. The company continued a strategic pullback in non‑standard auto, ceasing new writings in additional states during Q3, with existing policies to be non‑renewed. Operating cash flow for the first nine months was negative $28.5 million, and cash and cash equivalents were $24.7 million at quarter‑end. Shareholders’ equity was $243.8 million. The board authorized a new $5.0 million buyback on August 25, 2025, alongside $0.9 million remaining from a prior authorization.
NI Holdings (NODK) disclosed a Separation Agreement with former President and CEO Seth C. Daggett. The agreement provides a severance payment of $2,559,947 in exchange for a comprehensive release of claims and post‑employment covenants. The company will also pay $72,968.49 to cover the cost of health coverage for 24 months, consistent with the terms of his employment agreement.
Mr. Daggett may revoke the agreement for seven days after October 29, 2025, the date he signed it. The Separation Agreement becomes effective and enforceable only after that revocation period ends.
NI Holdings, Inc. (NODK) amended its disclosure to detail CEO compensation for Cindy L. Launer. Effective October 10, 2025 through year‑end, her pay includes a pro rata portion of a $750,000 annual base salary, a short‑term incentive with a $150,000 target payout, and $187,500 in restricted stock units with a standard 3‑year vesting schedule, to be granted after the next trading window opens.
Beginning January 1, 2026, compensation consists of a $750,000 annual base salary, an annual short‑term incentive targeted at 80% of base salary (payouts at 50% threshold, 80% target, 140% stretch), and an annual long‑term equity incentive equal to 100% of base salary with a 3‑year vesting schedule. The company will also reimburse moving expenses and provide short‑term housing during relocation.
NI Holdings, Inc. reported that President and Chief Executive Officer Seth C. Daggett left the company effective October 10, 2025, and also resigned from the Board and subsidiary roles. Because his departure is classified as a termination without cause under his employment agreement, the company expects to pay approximately $2.5 million in severance, subject to a mutually agreeable separation agreement, and to provide health benefits for 24 months or a cash amount equal to the cost of such coverage.
The company appointed director Cindy L. Launer as President and Chief Executive Officer, effective the same date. She will continue to serve on the Board but will not receive extra director pay. Her CEO compensation package is still being determined and will be disclosed in an amendment. The company also issued a press release describing these leadership changes.
NI Holdings, Inc. filed a current report to disclose that on August 25, 2025 it issued a press release announcing a share repurchase plan. This type of plan allows the company to buy back its own common stock, which can reduce the number of shares in the market and change how ownership is distributed.
The specific terms of the buyback, such as the total dollar amount, number of shares, or timing, are described in the referenced press release, which is attached as Exhibit 99.1 to the report.
NI Holdings reported weaker underwriting results this quarter, recording a loss from continuing operations of $12.1 million for the three months and a $5.6 million loss year-to-date. Net premiums earned for the quarter declined to $73.0 million from $85.2 million a year earlier, reducing core revenue while loss and loss adjustment expenses remained elevated.
The balance sheet shows growth in scale and liquidity with total assets of $620.1 million and cash and investments of $406.1 million. Unpaid losses and loss adjustment expenses rose to $203.5 million from $137.3 million, with reinsurance recoverables increasing to $51.3 million, and the company recorded $11.2 million of unfavorable prior-year development largely in its Non-Standard Auto segment. Net investment income improved to $3.15 million for the quarter and unrealized losses on fixed income securities narrowed versus year-end.
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