Elfstrand Kevin Douglas 4

What Happened

• Kevin Douglas Elfstrand, Chief Accounting Officer of NI Holdings, received a grant/award of 9,300 shares (reported as restricted stock units) on 2026-03-02 (transaction code A, $0.00 per share).
• Prior to that, 1,352 shares were disposed of via withholding to satisfy tax obligations related to vesting: 873 shares on 2026-02-28 for $13.28/share (reported value $11,593) and 479 shares on 2026-03-01 for $13.28/share (reported value $6,361). Total value of shares withheld was about $17,954. These F-coded dispositions are tax withholdings, not open-market sales.

Key Details

• Transaction dates and prices:
  • 2026-02-28: 873 shares withheld @ $13.28 = $11,593 (F)
  • 2026-03-01: 479 shares withheld @ $13.28 = $6,361 (F)
  • 2026-03-02: 9,300-share award @ $0.00 (A) (RSU grant)
• Shares owned after the transaction: not specified in the provided filing.
• Notable footnotes from the filing:
  • F1: Shares withheld to satisfy withholding upon vesting of RSUs.
  • F2: Filing notes inclusion of 802 shares distributed from the Company’s Employee Stock Ownership Plan.
  • F3 / F4: The awarded shares are represented by restricted stock units with time‑based vesting.
• Filing date: Form filed 2026-03-03 reporting activity through 2026-02-28. (No late‑filing flag provided in the data given.)

Context

• These filings show an RSU grant with a routine cashless-like tax withholding at vesting. Withheld/disposed shares to cover taxes are common and are administrative (not open-market sales meant to realize gains). RSU grants are an acquisition (A) but do not involve out‑of‑pocket purchase by the insider.