---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-24-001087"
form_type: "8-K"
ticker: "NODK"
cik: "0001681206"
company_name: "NI Holdings, Inc."
filed_at: "2024-09-19T23:59:59+00:00"
generated_at: "2026-05-31T03:39:24.461132+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# NI Holdings finalizes separation agreement with former CEO Michael Alexander for $3.8M severance

## Summary
- Former CEO Michael Alexander terminated without cause Aug 13, 2024; separation agreement signed Sept 16, 2024.
- Severance payment of $3,826,583.01 (three years base salary and avg bonus) paid within 10 days after revocation period.
- Company to pay COBRA premiums for 18 months plus $65,493.07 for additional after-tax health coverage.
- Agreement includes full release of claims, non-disparagement, and 6-month cooperation at $400/hour.

## SEC filing metadata
- accession: 0001174947-24-001087
- form_type: 8-K
- ticker: NODK
- cik: 0001681206
- company_name: NI Holdings, Inc.
- filed_at: 2024-09-19T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1681206/000117494724001087/0001174947-24-001087-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681206/000117494724001087/form8k-32876_nodk.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-24-001087
- JSON: https://secwatch.observer/filing/0001174947-24-001087.json
- Plain text: https://secwatch.observer/filing/0001174947-24-001087.txt

## Key facts
- Executive change
  Michael J. Alexander was terminated as President and Chief Executive Officer at NI Holdings, Inc..
  - Action: terminated
  - Role: President and Chief Executive Officer
  source text: Michael J. Alexander’s employment as President and Chief Executive Officer of NI Holdings, Inc. (the “Company”) was terminated without cause.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681206/000117494724001087/0001174947-24-001087-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.