Jon Hendry - Dec 31, 2023 Form 5 Insider Report for ALERUS FINANCIAL CORP (ALRS)

Role
Chief Technology Officer & EVP
Signature
/s/ Nicholas Brenckman, by power of attorney
Stock symbol
ALRS
Transactions as of
Dec 31, 2023
Transactions value $
$0
Form type
5
Date filed
2/8/2024, 04:04 PM
Previous filing
Feb 22, 2023
Next filing
Feb 20, 2024

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 +4.18K $0.00 4.18K Feb 21, 2023 Common Stock 4.18K 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 1,672 restricted stock units that have time-based vesting components. Includes 2,508 restricted stock units that have performance-based vesting components.
F3 The time-based restricted stock units vest on February 21, 2026. The performance-based restricted stock units vest on February 21, 2026, so long as Alerus Financial Corporation meets certain total stockholder return goals.

Remarks:

Exhibit 24 - Power of Attorney.