Katie A. Lorenson - Feb 3, 2022 Form 4 Insider Report for ALERUS FINANCIAL CORP (ALRS)

Role
President and CEO, Director
Signature
/s/ Scott Fenske, by power of attorney
Stock symbol
ALRS
Transactions as of
Feb 3, 2022
Transactions value $
$0
Form type
4
Date filed
2/7/2022, 11:24 AM
Next filing
Feb 23, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ALRS Restricted Stock Units Award $0 +9.65K $0.00 9.65K Feb 3, 2022 Common Stock 9.65K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Alerus Financial Corporation common stock.
F2 Includes 3,858 restricted stock units that have time-based vesting components. Includes 5,788 restricted stock units that have performance-based vesting components.
F3 The time-based restricted stock units vest on February 3, 2025. The performance-based restricted stock units vest on February 3, 2025, so long as Alerus Financial Corporation meets certain total stockholder return goals.