Cindy Launer is President and Chief Executive Officer of NI Holdings, Inc. (NODK). The company reported total compensation of $712,516 for fiscal year 2025.
| Salary | $167,614 |
|---|---|
| Bonus | $0 |
| Stock awards | $187,493 |
| Option awards | $0 |
| Non-equity incentive plan | $240,000 |
| Pension and non-qualified deferred compensation | $0 |
| All other compensation | $117,409 |
| Total | $712,516 |
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed, without adjustment.
Cited to the compensation disclosure NI Holdings, Inc. filed April 8, 2026, accession 0002077096-26-000051.
| Fiscal year | Role | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | President and Chief Executive Officer | $167,614 | $0 | $187,493 | $0 | $240,000 | $0 | $117,409 | $712,516 |
| FY2024 | Former Interim President and CEO | $355,730 | $0 | $0 | $0 | $0 | $0 | $105,105 | $460,148 |
Totals as disclosed in each year's own compensation disclosure for NI Holdings, Inc..
| Peer-group chief executive median | $4,187,838 |
|---|---|
| Difference from that median | $-3,475,322 |
| Percentile within the disclosed peer group | 1st |
| Peers with a disclosed figure | 13 |
Medians and percentiles are computed across the peer group NI Holdings, Inc. discloses in its own compensation disclosure.
| Named executive officer | Role | FY2025 total |
|---|---|---|
| Seth Daggett | Former President and Chief Executive Officer | $3,926,153 |
| Matthew Maki | Executive Vice President, Treasurer and Chief Financial Officer | $1,356,790 |
| Cindy Launer this page | President and Chief Executive Officer | $712,516 |
| Kevin Elfstrand | Senior Vice President, Chief Accounting Officer and Secretary | $669,299 |
| Douglas Duncan | Senior Vice President and Chief Information Officer | $442,818 |
The company's named executive officers for fiscal year 2025, and what it reported for each. See the full NI Holdings, Inc. compensation brief.
Cindy Launer's compensation sits inside NI Holdings, Inc.'s full executive and board picture — the peer group, pay against peers, incentive design and the board itself.