Form 4: NI Holdings Inc. Director Grants Power of Attorney for SEC Filings

NI Holdings, Inc. director William R. Devlin has executed a Power of Attorney authorizing specific individuals to file Section 16 reports and other required documents with the SEC on his behalf.

Summary

• William R. Devlin, a director of NI Holdings, Inc., has granted a Power of Attorney to Cindy L. Launer, Matthew J. Maki, and Kevin Elfstrand.
• This authorization allows the appointed individuals to prepare and execute necessary SEC filings, including Forms 3, 4, and 5, related to Section 16 of the Exchange Act.
• The attorneys-in-fact are also empowered to file Form 144 under the Securities Act of 1933, as amended.
• The Power of Attorney covers actions deemed necessary or desirable by the attorneys-in-fact to complete and file these reports, including obtaining SEC codes and passwords.
• This arrangement remains in effect until Mr. Devlin is no longer required to file these forms, or until he revokes it in writing.
• The filing also includes a Form 4 detailing transactions by William Russell Devlin, reporting the acquisition of 5,015 shares of Common Stock on May 20, 2026, valued at $0.00, bringing his total beneficial ownership to 36,739 shares, which includes restricted stock units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily concerns administrative procedures for regulatory compliance rather than significant financial or strategic developments.

Positives

• Ensures timely and accurate compliance with SEC reporting requirements for director William R. Devlin.
• Streamlines the process of filing necessary ownership and transaction reports (Forms 3, 4, 5, 144).
• Demonstrates proactive management of corporate governance and disclosure obligations.
• William R. Devlin acquired 5,015 shares of Common Stock on May 20, 2026, increasing his beneficial ownership.

Negatives

• The acquisition of 5,015 shares by William R. Devlin was valued at $0.00, which may require further clarification regarding the nature of the transaction (e.g., stock awards, grants).

Risks

• Potential for errors or omissions in filings if the appointed attorneys-in-fact are not diligent.
• The Power of Attorney does not absolve the undersigned (Mr. Devlin) of his ultimate responsibility for compliance with Section 16 of the Exchange Act.

Future Outlook

The Power of Attorney remains in effect until the undersigned is no longer required to file Forms 3, 4, and 5, or until earlier revoked. The Form 4 indicates an acquisition of shares, contributing to the reporting person's beneficial ownership.

Management Comments

• "The undersigned hereby constitutes and appoints each of Cindy L. Launer, Matthew J. Maki, and Kevin Elfstrand, signing singly, the undersigneds true and lawful attorney-in-fact to: 1) prepare, execute in the undersigneds name and on behalf of the undersigned, and submit to the U.S. Securities and Exchange Commission (the SEC) a Form ID..."
• "The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted..."
• "The undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigneds responsibilities to comply with Section 16 of the Exchange Act."

Industry Context

StockSavvy.ai notes that the execution of a Power of Attorney for SEC filings is a standard practice for corporate officers and directors to ensure compliance with reporting obligations under Section 16 of the Securities Exchange Act of 1934, particularly for publicly traded companies like NI Holdings, Inc.

Corporate Governance

Stakeholder Impact

• Shareholders: Increased transparency and assurance of regulatory compliance regarding director ownership and transactions.
• Management: Streamlined process for fulfilling reporting obligations.
• Regulatory Bodies (SEC): Receipt of timely and accurate ownership filings.

Next Steps

• Attorneys-in-fact will continue to prepare and file required Section 16 reports and Form 144 on behalf of William R. Devlin.
• William R. Devlin will remain responsible for ensuring compliance with Section 16 of the Exchange Act, despite the delegation of filing preparation.

Key Dates

Keywords

Power of Attorney, SEC Filings, Section 16, Form 3, Form 4, Form 5, Form 144, NI Holdings, Inc., William R. Devlin, Director, Beneficial Ownership, Securities Exchange Act, Securities Act