NI Holdings Reports Director/Officer Changes
Ticker: NODK · Form: 8-K · Filed: Oct 31, 2025 · CIK: 1681206
Sentiment: neutral
Topics: management-change, officer-appointment, director-election
TL;DR
NI Holdings filed an 8-K for director/officer changes and compensation. Details TBD.
AI Summary
NI Holdings, Inc. filed an 8-K on October 31, 2025, reporting events as of October 29, 2025. The filing pertains to the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements for certain officers. Specific details regarding these changes and arrangements are not provided in the excerpt.
Why It Matters
Changes in a company's board of directors or executive officers can signal shifts in strategy, governance, or operational focus.
Risk Assessment
Risk Level: medium — Changes in key personnel and compensation can indicate underlying business issues or strategic shifts that may impact the company's future performance.
Key Players & Entities
- NI Holdings, Inc. (company) — Registrant
- October 29, 2025 (date) — Date of earliest event reported
- October 31, 2025 (date) — Date of report
- North Dakota (location) — State of incorporation
- Fargo, North Dakota (location) — Principal executive offices
FAQ
What specific changes occurred regarding directors or officers?
The filing indicates the departure of directors or certain officers, election of directors, and appointment of certain officers, but the specific names and details are not provided in this excerpt.
What is the nature of the compensatory arrangements mentioned?
The filing states that there are compensatory arrangements of certain officers, but the details of these arrangements are not specified in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on October 29, 2025.
What is the SIC code for NI Holdings, Inc.?
The Standard Industrial Classification (SIC) code for NI Holdings, Inc. is 6331, which corresponds to FIRE, MARINE & CASUALTY INSURANCE.
Where are NI Holdings, Inc.'s principal executive offices located?
NI Holdings, Inc.'s principal executive offices are located at 1101 First Avenue North, Fargo, North Dakota, 58102.
Filing Stats: 643 words · 3 min read · ~2 pages · Grade level 9.9 · Accepted 2025-10-31 16:35:24
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share NODK Nasdaq Capit
- $2,559,947 — itled to receive a severance payment of $2,559,947. The Company will also pay to Mr. Dagge
- $72,968 — o pay to Mr. Daggett an amount equal to $72,968.49, to cover the cost of health coverag
Filing Documents
- form8k-34835_nodk.htm (8-K) — 23KB
- ex10-1.htm (EX-10.1) — 44KB
- 0001174947-25-001316.txt ( ) — 239KB
- nodk-20251029.xsd (EX-101.SCH) — 3KB
- nodk-20251029_lab.xml (EX-101.LAB) — 33KB
- nodk-20251029_pre.xml (EX-101.PRE) — 22KB
- form8k-34835_nodk_htm.xml (XML) — 3KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously disclosed, on October 10, 2025, Seth C. Daggett's employment as President and Chief Executive Officer of NI Holdings, Inc. (the "Company") was terminated without cause. On October 29, 2025, the Company entered into a Separation Agreement with Mr. Daggett memorializing the terms of his departure from the Company (the "Separation Agreement"). The Separation Agreement provides that, in consideration for Mr. Daggett's comprehensive release of claims against the Company and its affiliates and his post-employment covenants set forth in the Separation Agreement, Mr. Daggett will be entitled to receive a severance payment of $2,559,947. The Company will also pay to Mr. Daggett an amount equal to $72,968.49, to cover the cost of health coverage for a period of 24 months. These payments are being made to comply with the terms of Mr. Daggett's employment agreement. Mr. Daggett may revoke the Separation Agreement for a period of seven days after October 29, 2025, the date he executed the Separation Agreement. The Separation Agreement does not become effective or enforceable until the seven-day revocation period has ended. The foregoing summary of the Separation Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Separation Agreement, a copy of which is attached as Exhibit 10.1 to this report and is incorporated by reference herein.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Separation Agreement, dated October 29, 2025, between NI Holdings, Inc. and Seth C. Daggett. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NI Holdings, Inc. Date: October 31, 2025 By: /s/ Matthew J. Maki Matthew J. Maki Chief Financial Officer