Employee Benefit Plans

12 Months Ended

Dec. 31, 2025

Employee Benefit Plans

Employee Benefit Plans

Employee Benefit Plans

Bonus Plans

Employee Bonus Plan

For the years ended December 31, 2025 and 2024, the Company accrued approximately $2,434,000 and $2,091,000, respectively ("Cash Payments"), related to an employee bonus plan (the "Bonus Plan"), of which $555,000 and $477,000, respectively, is allocated and recorded in loss and LAE, and $1,879,000 and $1,614,000, respectively, is recorded in other underwriting expenses on the accompanying Consolidated Statements of Income and Comprehensive Income. In addition to the Cash Payments, the Bonus Plan also calls for a restricted stock award to the Company's senior leadership team ("SLT") and other members of management if certain performance metrics have been met. The performance metrics for the years ended December 31, 2025 and 2024 have been met, and accordingly, the SLT and other members of management received in March 2026 and March 2025 RSA's for an aggregate of 57,258 shares and 58,755 shares, respectively, of the Company's Common Stock valued at approximately $964,000 and $892,000, respectively. For the years ended December 31, 2025and 2024, the Company accrued approximately $266,000 and $278,000, respectively, of stock-based

compensation recorded in other operating expenses on the accompanying Consolidated Statements of Income and Comprehensive Income.

Executive Bonus Plan

For the years ended December 31, 2025 and 2024, the Company accrued approximately $688,000 and $496,000, respectively, for a bonus pursuant to the Third Amended Golden Employment Agreement and the Second Amended Golden Employment Agreement, respectively, of which $619,000 and $446,000, respectively, is recorded in other underwriting expenses, and $68,000 and $50,000, respectively, is recorded in other operating expenses on the accompanying Consolidated Statements of Income and Comprehensive Income.

401 (k) Plan

The Company maintains a salary reduction plan under Section 401(k) of the Internal Revenue Code (the “401(k) Plan”) for its qualified employees. The Company matches 100% of each participant’s contribution up to 4% of the participant’s eligible contribution. The Company incurred approximately $341,000 and $270,000 of expense for the years ended December 31, 2025 and 2024, respectively, related to the 401(k) Plan, which is recorded in other underwriting expenses on the accompanying Consolidated Statements of Income and Comprehensive Income.

Deferred Compensation Plan

On June 18, 2018, the Company adopted the Kingstone Companies, Inc. Deferred Compensation Plan (the "Deferred Compensation Plan"). Effective December 22, 2022, the Company terminated the Deferred Compensation Plan. The assets of the Deferred Compensation Plan were liquidated in September 2024, by making payments to participants in full satisfaction of their interest in the Deferred Compensation Plan.