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. filings document a North Dakota insurance holding company's Nasdaq-listed common stock, operating results, governance, and executive-compensation matters. Recent Form 8-K reports furnish quarterly and annual earnings releases and disclose leadership transitions, director election matters, and compensatory arrangements under Item 5.02.
Proxy materials describe board and shareholder-vote matters, named executive officer compensation, equity award adjustments, and pay-versus-performance disclosures. The filing record also identifies the company's common stock, par value, and exchange listing, while formal disclosures tie financial results to segment underwriting, reserves, and investment-portfolio performance.
NI Holdings, Inc. reported that Chief Information Officer Douglas Alan Duncan acquired 11,100 shares of common stock on March 2, 2026 through a grant or award. Footnotes clarify these shares are represented by restricted stock units with time-based vesting, and his directly owned holdings total 11,100 shares after the award.
NI Holdings, Inc. announced that director Duaine C. Espegard has informed the Board he will not stand for re-election at the company’s 2026 annual meeting of stockholders. The company states that his decision is not due to any disagreement regarding operations, policies, or practices.
Espegard will continue to serve as a director until the end of his current term, which concludes at the 2026 annual meeting. This represents a planned Board transition rather than a dispute-driven departure.
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.
NI Holdings, Inc. Chief Financial Officer Matthew J. Maki reported an insider transaction involving company common stock. On December 1, 2025, 111 shares of common stock were withheld at a price of $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 as total revenues reached $76.6 million. Net premiums earned were $71.9 million, and net investment income was $3.0 million, reflecting steadier portfolio yields. Year to date, the company posted a net loss of $7.3 million on $224.1 million in total revenues.
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.