{"url_path":"/sec/nodk/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1681206/0001174947-26-000570-index.html","accession_number":"0001174947-26-000570","cik":"0001681206","ticker":"NODK","issuer_name":"NI Holdings, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1681206/0001174947-26-000570-index.html","primary_entity_key":"0001681206","primary_entity_name":"NI Holdings, Inc."},"word_count":438,"has_tables":true,"body_markdown":"Item 2. - Unregistered Sales of Equity Securities\nand Use of Proceeds\n\n \n\nAll dollar amounts included in Item 2 herein, except per share data,\nare in thousands.\n\n \n\nThe Company has not sold any unregistered securities within the past\nthree years.\n\n \n\nFrom time to time, the Company may repurchase its own stock. To date,\nthe Company has used the net proceeds from the IPO to fund these share repurchases.\n\n \n\nOn May 9, 2022, our Board of Directors approved an\nauthorization for the repurchase of up to approximately $10,000 of the Company’s outstanding common stock. During the year ended\nDecember 31, 2022, we completed the repurchase of 54,223 shares of our common stock for $734 under this authorization. During the year\nended December 31, 2023, we repurchased an additional 548,549 shares of our common stock for $7,278, including the effect from applicable\nexcise taxes. During the year ended December 31, 2024, we did not repurchase any shares of our common stock.\n\n \n\nOn August 25, 2025, our Board of Directors approved\nan authorization for the repurchase of up to approximately $5,000 of the Company’s outstanding common stock in addition to the $2,052\nremaining from the May 9, 2022 authorization. During the year ended December 31, 2025, we completed the repurchase of 188,185 shares of\nour common stock for $2,517, including the effects from applicable excise taxes under these authorizations. As of December 31, 2025, these\nshare repurchases closed out the May 9, 2022 authorization, and $4,549 remained available under the August 25, 2025 authorization. At\nMarch 31, 2026, $3,692 remains available under this authorization.\n\n \n\nShare repurchase activity during the three months ended March 31, 2026,\nis presented below:\n\n \n\nPeriod in 2026 \nTotal Number of\nShares\n\nPurchased  \nAverage Price\n\nPaid\nPer Share(3)  \nTotal Number of\n\nShares Purchased\n\nas Part of Publicly\n\nAnnounced Plans\n\nor Programs (1) (2)  \nMaximum Approximate\n\nDollar Value of Shares\n\nThat May Yet Be\n\nPurchased Under the\n\nPlans or Programs (1)(2)(3)\n(in thousands) \n\nJanuary 1 – 31, 2026 \n 11,327  \n$13.30  \n 11,327  \n$4,398 \n\nFebruary 1 – 28, 2026 \n 14,784  \n 13.47  \n 14,784  \n 4,199 \n\nMarch 1 – 31, 2026 \n 38,557  \n 13.15  \n 38,557  \n 3,692 \n\nTotal \n 64,668  \n$13.25  \n 64,668  \n$3,692 \n\n \n\n(1)Shares purchased pursuant to the August 25, 2025 publicly announced share repurchase authorization of up to approximately $5,000 of\nthe Company’s outstanding common stock.\n\n(2)Maximum dollar value of shares that may yet be purchased consist of up to $3,692 under the August 25, 2025, publicly announced share\nrepurchase authorization.\n\n(3)The Inflation Reduction Act of 2022 imposed a 1% excise tax on the net value of certain share repurchases made after December 31,\n2022. All dollar amounts presented exclude such excise taxes, as applicable.\n\n \n\n38"}