Director at NI Holdings (NODK) receives grant of 5,015 restricted stock units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Thomas Callie Jean reported acquisition or exercise transactions in this Form 4 filing.

NI Holdings, Inc. director Thomas Callie Jean received an equity grant of 5,015 shares of Common Stock. These shares are represented by restricted stock units with time-based vesting and bring the director’s directly held and awarded total to 5,015 shares following the transaction.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Thomas Callie Jean

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	5,015	$0.00	--

Holdings After Transaction: Common Stock — 5,015 shares (Direct, null)

Footnotes (1)

These shares are represented by restricted stock units with time-based vesting. Includes restricted stock units.

Key Figures

RSU grant size: 5,015 shares Price per share: $0.00 per share Holdings after transaction: 5,015 shares +1 more

4 metrics

RSU grant size 5,015 shares Grant of Common Stock restricted stock units

Price per share $0.00 per share Reported value for grant transaction

Holdings after transaction 5,015 shares Total Common Stock directly held following grant

Transaction date 2026-05-20 Date of equity award acquisition

Key Terms

restricted stock units, time-based vesting, Grant, award, or other acquisition, Form 4

4 terms

restricted stock units financial

"These shares are represented by restricted stock units with time-based vesting."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

time-based vesting financial

"These shares are represented by restricted stock units with time-based vesting."

Time-based vesting is a schedule that gives employees or contractors ownership of granted stock or options gradually as they remain with a company, like unlocking rewards in a loyalty program the longer you stick around. For investors, it matters because it affects future share supply, management incentives and staff retention — all of which can influence company performance and dilution of existing shareholders.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

Form 4 regulatory

"INSIDER FILING DATA (Form 4): director equity award information"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

05/21/2026 - 04:05 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Thomas Callie Jean

(Last)

(First)

(Middle)

1101 FIRST AVENUE NORTH

(Street)

FARGO

NORTH DAKOTA

58102

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NI Holdings, Inc. [ NODK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/20/2026		A		5,015⁽¹⁾	A	$0.00	5,015⁽²⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. These shares are represented by restricted stock units with time-based vesting.

2. Includes restricted stock units.

	/s/ Kevin Elfstrand, Attorney-in-Fact	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did NI Holdings (NODK) report for Thomas Callie Jean?

NI Holdings reported that director Thomas Callie Jean received a grant of 5,015 shares of Common Stock. The award was recorded at a price of $0.00 per share and is structured as restricted stock units with time-based vesting conditions.

How many NI Holdings (NODK) shares does Thomas Callie Jean hold after this Form 4?

After the reported transaction, Thomas Callie Jean holds 5,015 shares of NI Holdings Common Stock. The filing notes that these shares are represented by restricted stock units, and the total reflects direct ownership following the equity award acquisition.

Was the NI Holdings (NODK) Form 4 transaction a purchase or a grant?

The Form 4 for NI Holdings shows a grant or award acquisition, not a market purchase. The transaction code is “A,” indicating a grant of 5,015 restricted stock units with time-based vesting rather than an open-market buy or sell transaction.

What does the footnote about restricted stock units mean for NI Holdings (NODK)?

The footnote explains that the reported shares are represented by restricted stock units with time-based vesting. This means the director’s right to receive the underlying NI Holdings shares depends on meeting vesting periods, rather than being immediately unrestricted stock.

Does the NI Holdings (NODK) Form 4 show any insider stock sales?

The Form 4 does not show any stock sales by the reporting person. It records a single acquisition transaction coded as a grant of 5,015 restricted stock units, with no sell transactions or dispositions reported in this filing.