---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-24-001286"
form_type: "8-K"
ticker: "NODK"
cik: "0001681206"
company_name: "NI Holdings, Inc."
filed_at: "2024-12-03T23:59:59+00:00"
generated_at: "2026-05-29T09:56:03.001910+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# NI Holdings terminates SVP Operations Patrick Duncan without cause; receives $860K severance

## Summary
- Patrick W. Duncan's employment as SVP Operations ended Nov. 20, 2024; separation agreement signed Nov. 27.
- Severance payment of $859,706.39 (two years base salary plus average bonus) plus $35,641.71 for health coverage.
- Company will pay COBRA premiums for 18 months; Duncan retains company-issued cell phone and iPad.
- Duncan has 7-day revocation period; agreement includes non-disparagement and 6-month cooperation clause.
- No acceleration of equity vesting triggered; Duncan not entitled to any short-term incentive bonus.

## SEC filing metadata
- accession: 0001174947-24-001286
- form_type: 8-K
- ticker: NODK
- cik: 0001681206
- company_name: NI Holdings, Inc.
- filed_at: 2024-12-03T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1681206/000117494724001286/0001174947-24-001286-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681206/000117494724001286/form8k-33216_nodk.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-24-001286
- JSON: https://secwatch.observer/filing/0001174947-24-001286.json
- Plain text: https://secwatch.observer/filing/0001174947-24-001286.txt

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