NI Holdings (NODK) CFO settles RSU taxes with 119 withheld shares

Rhea-AI Filing Summary

NI Holdings, Inc. Chief Financial Officer reports tax-related share withholding in a Form 4 insider transaction. On February 3, 2026, 119 shares of NI Holdings common stock were withheld at a price of $13.57 per share to cover withholding obligations tied to a restricted stock unit vesting.

Following this transaction, the CFO directly beneficially owned 43,082 shares of NI Holdings common stock. The filing reflects an administrative equity compensation and tax-settlement event rather than an open-market trade.

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

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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^*

Maki Matthew James

(Last) (First) (Middle)

1101 FIRST AVENUE NORTH

(Street)

FARGO ND 58102

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/03/2026

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/03/2026		F		119(1)	D	$13.57	43,082	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares withheld to satisfy withholding obligations upon the February 3, 2026 restricted stock unit vesting.

	/s/ Matthew J. Maki	02/05/2026
	** 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).
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FAQ

What insider transaction did NI Holdings (NODK) disclose in this Form 4?

NI Holdings disclosed that its Chief Financial Officer had 119 shares of common stock withheld at $13.57 per share. The shares were withheld on February 3, 2026 to satisfy tax withholding obligations related to a restricted stock unit vesting event.

Who is the insider involved in the latest NI Holdings (NODK) Form 4 filing?

The insider is Matthew James Maki, Chief Financial Officer of NI Holdings, Inc. The filing shows a tax-related share withholding transaction associated with his equity compensation, rather than an open-market purchase or sale of the company’s common stock.

How many NI Holdings (NODK) shares were withheld for taxes in this transaction?

The transaction reports that 119 shares of NI Holdings common stock were withheld. According to the footnote, these shares were used to satisfy withholding obligations arising from a restricted stock unit vesting that occurred on February 3, 2026.

At what price were the withheld NI Holdings (NODK) shares valued in the Form 4?

The withheld 119 shares were valued at $13.57 per share. This price is used in the Form 4 to report the value of the shares applied toward the insider’s tax withholding obligations tied to the vesting restricted stock units.

How many NI Holdings (NODK) shares does the CFO own after the reported transaction?

After the reported transaction, the Chief Financial Officer beneficially owned 43,082 shares of NI Holdings common stock directly. This figure reflects his holdings following the 119-share withholding related to the February 3, 2026 restricted stock unit vesting.

What does transaction code "F" mean in the NI Holdings (NODK) Form 4?

Transaction code "F" indicates shares were withheld to pay taxes upon vesting of equity awards. In this case, 119 shares of NI Holdings common stock were withheld on February 3, 2026 to satisfy the CFO’s withholding obligations on a restricted stock unit vesting.