Cindy Launer compensation by year
NI Summary Compensation Table · all 2 fiscal years held| Component | FY2024 | FY2025 |
|---|---|---|
| Salary | $355,730 | $167,614 |
| Bonus | $0 | $0 |
| Stock awards | $0 | $187,493 |
| Option awards | $0 | $0 |
| Non-equity incentive | $0 | $240,000 |
| Pension and deferred compensation | $0 | $0 |
| All other | $105,105 | $117,409 |
| Total | $460,148 | $712,516 |
Each year as stated in that year's proxy. A dash means the company reported no figure in that column. Source: NI Holdings, Inc. DEF 14A filed April 8, 2026, accession 0002077096-26-000051, and prior-year filings. Open the filing on EDGAR.
How this page was built: the NI Holdings, Inc. filed document, accession 0002077096-26-000051. Every figure is read from that document and cited to the page and table it appears in. Filed April 8, 2026.
Equity holdings
unvested awards at FY2025 year-end| Type | Unvested units | Value at year-end | Exercise price |
|---|---|---|---|
| RSU | 14,076 | $187,211 | — |
| RSU | 3,924 | $52,189 | — |
Per the Outstanding Equity Awards at Fiscal Year-End table in NI Holdings, Inc.'s FY2025 proxy; value at the fiscal year-end close, as the company printed it.
NI’s named executive officers, FY2025
as the company reported each| 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 |
Board service
NI board · FY2022–FY2025| Fiscal year | Cash fees | Stock awards | Option awards | Other | Total |
|---|---|---|---|---|---|
| FY2025 | $62,575 | $51,718 | — | — | $114,293 |
| FY2024 | $53,085 | $52,020 | — | $355,043 | $460,148 |
| FY2023 | $66,000 | $51,566 | — | $0 | $117,566 |
| FY2022 | $70,000 | $51,212 | $0 | $0 | $121,212 |
Each year as the company reported it in NI's director compensation table. Totals are the company's own disclosed totals.
How this board is paid
Company policy: NI pays directors a $65,000 cash retainer and $50,000 in equity. As stated in NI's FY2025 proxy.
The full NI compensation record
free company briefThis page is one person within NI's record. The company brief lists every named executive, each linking to their own page.
Peer companies
named in the NI proxy · each links to its own free briefCompensation, the day it’s disclosed
The CompBrief Daily Digest lists the newest executive and director compensation disclosures as companies file them. Or order NI's full Executive Compensation Report with peer benchmarking.
How this record is built
Every figure on this page is one figure from a public SEC filing, printed as the filing states it and cited to the document. Compensation totals are NI's own disclosed totals, not summed by Velarion. Insider transactions are read from Form 4 filings and cover every line filed since the most recent proxy. Nothing is estimated by Velarion; where the company does not disclose a value the cell reads "—", and a section appears only where the company discloses the data. Corrections: records@velarion.ai.
Order NODK
Add the email the receipt and the PDF go to, then press the report you want. Each button opens its own card payment on Stripe.