Maki Matthew James 4

What Happened

• Matthew James Maki, Chief Financial Officer of NI Holdings (NODK), received a grant of 22,700 shares reported as an award (restricted stock units) on 2026-03-02 (acquisition reported at $0.00).
• Prior to that, 2,471 shares were disposed on 2026-02-28 and 1,588 shares on 2026-03-01 to satisfy tax withholding obligations; both disposals were recorded at $13.28 per share for totals of $32,815 and $21,089, respectively (combined withholding value $53,904).
• This transaction is principally an award (acquisition of RSUs); the small disposals were routine tax-withholding, not open-market sales.

Key Details

• Transaction dates and prices:
  • 2026-02-28: 2,471 shares withheld at $13.28 = $32,815 (tax withholding)
  • 2026-03-01: 1,588 shares withheld at $13.28 = $21,089 (tax withholding)
  • 2026-03-02: 22,700 shares granted @ $0.00 (RSU award)
• Shares owned after transaction: Not specified in the excerpt of the filing provided.
• Footnotes: F1 indicates shares were withheld to satisfy tax withholding upon RSU vesting; F2/F3 note these shares are represented by restricted stock units with time-based vesting.
• Filing: Form 4 filed 2026-03-03 (accession 0001174947-26-000269). The filing shows the transactions and contains no late-filing flag in the provided data.

Context

• These entries reflect a standard RSU award and routine tax withholding. RSUs are compensation that typically vest over time (time-based vesting noted in the footnotes); the withheld shares were used to cover tax obligations rather than sold in an open-market transaction. Such awards are common executive compensation and do not necessarily signal a buy or sell market view.